Sorry it's LONG - some answers...hi board - long time no post: i have been busy digging. here's
what i found:
i can gauge the frustration creeping in and it's understandable.
but my take is that the gbu management ARE delivering the
goods and methodically too, in gradually knocking down the
hurdles. before we start, i think most of you out there knew what
these hurdles were/are as there's been discussion about these
for some years on this board. if you were ignorant of them,
perhaps you shouldn't own this issue.
so - management got the updated resettlement and relocation
plan (rrp) out this week and it's posted on
www.rosiamontanagoldcorp.com for all to see. we're back on
track. this now enables purchase agreements already made
with property owners to be finalised and for the rest of the
program to be kick started. i have it on good authority that this
new rrp (unchanged from the former, by the way) will instil a
certain momentum back into the town and it's residents. it's
going to add to the ground swell already there, to move. this
town will have jobs for 30 years to come and they are not stupid
as one recent poster also cleverly noted. no - several dozen
signed up last week alone and the urgency will pick up again.
this will build rapidly. it was also pointed out to me that much of
the ownership paperwork is now in good order. this had been a
real dampner because old town council title deeds etc all have to
be proven as genuine. gbu needs legal certainty that who they
give a house to, or money to, are rightfully entitled to same. the
rrp has also now received key archaeological clearances for all
of gabriel's new construction sites from the government. another
example of management's slow, deliberate & real progress. an
update has been promised within days.
someone mentioned cheques going out? well they start this
monday morning. also someone asked about "what to do with
those that don't move?" it's called expropriation and the law will
allow gbu to proceed regardless. this is why it's taken so long.
the rrp deal is designed for all eventualities and expropriation is
one. the rrp must be fair in any event - even in one of final resort.
europe's been doing it for 50 years to build roads and
motorways and bridges and the like. tough titties. here's your
money; here's the court order. here's your new house. here's
the moving truck. now kindly vacate.
we have all known for ages that the village and the permitting are
the key
milestones to unlock value. what i don't understand is why the
whining? as far as i can tell, and i have substantial long interest
at stake, nothing has changed and i don't see why everyone is
panicking? gold's going to come back to $340 anyway within 6
weeks and gbu won't move down as it didn't move up. it's not a
producer. it's a mine under construction. the seniors continue to
monitor progress (one has been out there within the previous
month - 2nd tier) and they simply won't make a move until gbu
have these permits in place. now that's going to take time. my
source puts the time frame at this year for the environmental and
construction permits; and yes it will take this year to
sort the village out too. patience is the key, this is not a stock for
the faint hearted and where there is risk there is normally great
reward.
gbu management know what they are doing and this team is by
far the strongest in new mine construction anywhere. challenge
me to name a better crowd? they also have one of strongest
crews working the environmental & clearance issues. this
crowd have built many mines around the world. gabriel isn't just
some small-time exploration play like it was in 1996/7, it's now a
proven world class ore deposit which is a very rare asset in the
gold mining world.
undoubtedly many of the majors would simply love to get their
hands on this asset - but ONLY when they can see a clear
construction path. 2003 is all about clearing that path. you tell
me how much a +10 million ounce deposit is worth in this gold
market? my bet is that it's worth at least $80 per oz (US) if
packaged properly. that works out to US$640m or C$1bn and
we've not even included my "BIG HOLE BABY!" reference asset
now being drilled - the NEW rosia montana look-alike at Rodu
Frasin.
if you want to trade - this ain't it. if you want to invest (like in the
old days) this IS IT. just hang tight.
topdop