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

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To: koan who wrote (35068)	3/6/2007 1:45:14 PM
From: whenitgoesup	Read Replies (2) of 78428

Re: RNG, here is a post on the Yahoo RNO board from a guy who went to the RNG booth at the PDAC conference on the weekend. messages.finance.yahoo.com Ok...my feet are sore as hell. Unfortunately you have to walk everywhere around this city (except for places on the Subway route.) In Kentucky, if I have to walk past my mailbox it's because I'm trying to get exercise. Note to self: next year bring good shoes. And I don't want to even go into how screwed up the airlines were on Friday. I spent a little time at the Rio Narcea booth this afternoon. It was staffed by the IR chick (I've forgotten her name now) from the States and also by the head of exploration (Luis something??) The COO is supposed to show up tomorrow but we will be flying out early in the morning so I won't get to meet him. I didn't take notes on RNO but here is some info I remember: * collar - IR chick says the only questions come from retail investors. Institutions aren't worried about it and are much more interested in future plans. * Aguablanca exploration - Luis believes that the drill results are excellent and they are bringing in another drill. * Tasiast exploration - drilling hasn't started yet but should start sometime in the near future. I believe he said the ore body is open at depth and along strike on both sides (I could be wrong on this after discussing so many different deposits today.) * Tasiast construction - everything is still on schedule. * Salave - Luis hasn't totally given up hope that something will come out of this lawsuit but he also didn't have any good reason to be optimistic. Apparently the problem is very localized to this project (it is closer to the coast??) and is not indicative of Spanish policy in general. * Spanish gold mines - RNO is still responsible for reclaiming their gold mines on these properties that were shut down last year. I was hoping that Kimbauri (sp?) would take over the restoration responsibilities but this is not the case. This was also confirmed by pictures at Kimbauri's booth which showed the gold mine pits with the labels "...being reclaimed by Rio Narcea." * Chariot - The IR chick explained that RNO wanted to do more due diligence prior to making a takeover offer or anything like that. Apparently Chariot is not being helpful in allowing RNO to perform their DD process. For their part, the Chariot guys seemed reasonable in their explanation that they are just trying to make sure that Chariot shareholders are protected. There is a loophole of some sort that would allow RNO to purchase much more than 20% of Chariot's outstanding shares (and presumably short them prior to making an offer) and the recent shareholder rights plan was meant to solve that problem. The Chariot guys said they were planning on developing the mine themself but I get the feeling they had difficulty developing their booth display. * Future Plans/Reinvestment - IR chick says there are several other growth options being looked at besides Chariot which may or may not pan out. * Spinoff - IR chick doesn't know how this will physically take place.

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