Quarterly Report, page-10

It looks like that this is very currently an increasing general problem for the miners. The current gold price uptrend seems to stall out with the next upside starting end of June at latest. Miners seem to react first. For example a former canadian investment that published today a very good PEA with Internal Rate of Return of 36% after-tax and production start this year for an av. of 102Koz at AISC 740 USD or so.
This top evaluated share crashed today 14% after the good data. I sold the last week my last shares assuming that market trend might switch infavorable. Another still owned investment had to lower its private placement price-wise. although less worrisome as they might raise more as expected and we might see this year whether or not 3 Moz Gold at a MK Cap far lower as Matsa might be feasible with visible gold on surface.
So in the end we just have to wait for Matsa to start well at Red October in first quarter and continue with the smaller addons.