Ann: March 2012 Quarterly Activities and Cashflow, page-6

re: Ann: March 2012 Quarterly Activities and ... I sold out - the main reason, this just doesnt look the big bargain at cas hcosts of $1000 to me.


With their grade, i was expecting a much lower cost, to me the Feasability Study was dissapointing.

30000 oz a year at profits(at the moment) of around $600 an ounce - that equals arounds 18mil a season over a mine life of 2.5 years - capital costs of $24million, this just looks a weak FS to me, with these high cash costs, it just make it look as strong, i was personally looking for around $1000 margins.


To me, there are better bargains out there.