laguna reports maiden resource for gold proj., page-5

adm - The Company (I think) was looking at approx. 500,000 ozs au. equiv. (which is what a few posters on HC were thinking also). Unfortunately it was hyped up to 1-2m ozs (at higher grades) which it will probably eventually JORC out, but not for a little while yet. The hype, the expectations and the sell-down by substantial traders really put the skids under this, even far more than I expected. But anyways, that's history now.

So what's in front of us now??? Well, for me it's a slight average down!

The Company resumes drilling (probably in a little over a week's time) to prove up higher grades under the silver ore body and to map these grades. Hopefully we can get our hands on the high grade historical drill results that Anglo doesn't have. The Company also indicated that they won't need any cash for the rest of this year.

So, the things to look forward to:-

No cap raising this year;

Drilling higher grade gold intercepts (5%-10%+ fig.);

Use of International laboratories in Chile for assays; and

The possible release of 3 more good announcements by this year's end.

Personally I think LRC was way oversold yesterday, and I'll be looking for the bounce.

Good luck to all Laguna traders & holders!

Cheers, Pie (: