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Gold/Mining/Energy : Canadian Rocket Red's Picks

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To: CashWhore who wrote (9533)	10/28/2006 4:01:36 PM
From: AuBug	of 19697

With their El Sastre mine complete and running I think the only thing holding Aurogin Resources (AUQ.v) back is that they hired the geologist (Neil Gow) that was doing their revised resource estimate and have to get a new geologist to do it. Their NI 43-101 currently says they have 49,251 oz gold indicated and 635,265 oz au inferred for a total of 684,516 oz au in El Sastre and Lupita. They already know they have more in the Bridge zone and it should not be a stretch for them to identify over 1 million oz au by xmas. The rub is getting a "qualified person" to issue an NI 43-101 report saying so. Neil Gow did the last NI 43-101: auroginresources.com Then they hired him 2 months later, "Aurogin Appoints Vice President – Exploration": auroginresources.com Anyone heard if they have a new qualified person working on a updated resource report? In general everything seems to be going exactly as planned. At 20,000 ounces/yr x $400/oz = $8 million profit/yr within the first year with the production rate scaling up each year. With 49,645,721 shares out and a P/E = 20 this implies a stock price of us$3.22. Assumes $600/oz market price for gold and a cost of production of $200/oz. Mr Market stills thinks this is a c$0.31 stock but that'll change when they start pouring gold soon. They could easily ramp up to 100,000 oz/yr within 5 years. They also have the very prospective claims in the Cortez Trend in Nevada Elephant Country.

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