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Gold/Mining/Energy : GSS-Gold Star Resources
GSS 3.900+0.3%Jan 27 4:00 PM EST
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To: Richard D who wrote (44)5/11/2006 12:41:43 PM
From: sammaster  Read Replies (2) of 200
 
listened to the cc

seems like the high costs were related to processing the transition ore and also lots of waste ore at bogoso. some pre-mining of sulfide ores in preparation of biox was also included. they anticipate moving to higher grade pit later this year at bogoso when they done with this current pit. lots of stripping at wassa also increased costs and they expect less waste stripping later in year.
biox on schedule for commercial production in 4q 2006.
no more hedging or price protection.
they are going to have feasibility studies done for st jude properties near wassa by end of year and plan trucking ore to wassa by end of 2007.
they are going to have feasibility study done on prestea by end of year with production by year end 2007.

so basically you have a producing company will increase its production by 150% from 2005-2007 with decreasing cash costs as its strips overlying rocks. promising no further hedging. bringing on 2 more properties into production by end 2007(st jude and prestea). and probable huge reserve increases as not only the price of gold increases but also previously unminable sulfide ores get delineated with further drilling.
so what is preventing this from being a $10 stock..
basically the fact that they have overpromised and underaccomplished for the past 2 years, and investors are tired of hearing that "it will get better in a couple of quarters"

i'm fully in now and if price tanks in conjuction with gold price pullback with its recent meteoric rise, then i may add more...
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