Regarding Road Map this is what I understandTheir environmental...

Regarding Road Map this is what I understand

Their environmental impact study is taking longer than initially anticipated as they needed to take base case observations (count number of animals per sq mile, quality of water etc) over a longer observation period. This report which is needed to be submitted with their mining application is apparently now due by end of q1 2012.

Because this is the bottleneck until this time the company is doing as much drilling as they can so that they are able to get an up to date jorc just prior to their mining application.

I would anticipate further drilling results out over the coming months and a jorc upgrade in q4 2011 in time for them to start work on their mining application which will be submitted as soon as the consultants finish the environmental study early next year.

I understand that the mining application process and consultation time takes approx 6 mths. As this area is extensively mined there should be no issues with this so by the end of 2012 this company should be in a position to start pulling significant amounts of gold out of the ground.

Their current cash in bank should easily get the company through to mine application stage. The company has already stated an extraction cost of roughly $600 per ounce (these figures will be updated closer to mine application date) so if we assume 60,000 onces of gold per annum (which with a jorc >1mm ounces BEFORE upgrade seems reasonable) with $1500 gold we are talking positive cash flow of >$50m per year which will easily repay the capital expenditure required to generate these figures within the first couple of years.

And this is before we even start talking about the potential gold sitting in the new prospects the company has been acquiring.

All very impressive for a company with a current mkt cap <$30m.

As always do your own research.