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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: John McCarthy who wrote (23765)	10/28/2006 10:54:09 PM
From: AuBug	Read Replies (2) of 78408

John, thanks. a, my guess is a PR saying they've poured 5,000 oz will come by 2/1/07, assuming they start off at their projected production rate of 20,000 oz/yr and have the leach pads loaded by early November. b, NI 43-101 seems like a pain but we can thank that Bre-X crook living in The Cayman Islands on the millions he bilked investors out of. The trustworthy professional geologists one should invest in probably know a lot more than they can say. I wish there was a way I could plug their reported drill results into a program and come up with a reasonable ball park number. I just don't know how long it might take to get an updated NI 43-101 issued and you may be right considering how often one hears about the shortage of experienced geologists. I don't think an entry level new college graduate qualifies as a "qualified person." Maybe it's time to give them a call next week and ask their IR guy if they've hired someone and pose the question to him. I like Aurogin Resources (AUQ.v) because they're really going to produce gold, not just a drill play and not just a claim bank. My next thought is that when a major decides they really do have a > 5 million oz deposit or maybe a mid-tier producer sees a > 1 million deposit they'll buy them out. That's not what I want to see since they'd get AUQ.v at a fraction of its reasonable future value, in my opinion. I just took a look at their updated presentation and it's definitely worth a look. I forgot to take into account the private partner's equity interest so shave 30% off what I said. Also, they're projecting production costs at only us$177/oz. They do a comparison to the market value of 8 gold producers and come up with a c$3.60 price for AUQ.v based on 600,000 equity oz gold. auroginresources.com Also photos and videos on: auroginresources.com I'd enjoy hearing your thoughts.

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