Ann: Feasibility Study - Cerro del Gallo Gold/Sil, page-2

re: Ann: Feasibility Study - Cerro del Gallo ... Looks like Terrier's posts were bang on the money for timing of the release and the financing options. Lets hope they can move forward quickly from here - without dilution to shareholders.

From the release:

? The Company has been in advanced discussions regarding funding alternatives; some alternatives provide construction capital without recourse to issuing additional equity. The Board will consider all funding options but has a preference to minimise issuing equity at current market pricing.

? The Company intends to advance the requisite joint venture partner and financing discussions within the current quarter. A finalised funding and construction commencement pathway will be determined as soon as is achievable in 2012.

Tony McDonald, Managing Director and CEO, said: “We are very pleased with the outcome of the FS for the 7+ year heap leach project. It is independent confirmation of the technical and financial viability of the project – better yet, it illustrates a low cash cost project that we estimate would sit in the 2nd cost quartile for new gold projects currently being developed or under construction globally.”

“The low per ounce production costs of the first stage will lead us into the next stage where, subject to completion of other studies, a carbon-in-leach plant would be added with the objectives of almost doubling the life of the mine to 14 years.”

“We are now in a position to advance joint venture discussions with Goldcorp and to secure funding to enable a start to construction as soon as permitting and land acquisitions are completed.”