big question, page-4

The Brazil assets were written down to zero on 31/12/11

The institutional placement for $3m was done at a discount to the value of Torrecillas - already producing 600oz pm from high grade - growing to 1800oz pm by end of year. Plenty of further expansion options.

$1m per month in gold revenue already on high margins and growing fast vs. $14m market cap?

Share price is still in 4s only because some people just have to sell when a long suspension is lifted.