Gold and Silver Juniors, Mid-tiers and Producers Message Board

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

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To: ogi who wrote (57317)	3/6/2008 6:25:42 PM
From: TrueScouse	Read Replies (3) of 78418

ogi: Great update on CKG -- thanks! And of course for the excellent wine on Sunday evening. :^) Sorry I missed the presentation for your 2007 stock pick! Just a quick addition to your CKG comments... I also spoke with Randy and it's clear to me that he sees the project economics of both Phase 1 and Phase 2 improving considerably. It's early days in terms of the feasibility studies on both, but I sensed that Phase 1 cost per ounce could drop below $400 and Phase 2 below $500, which is a far cry from the $600 to $700 figures being used when they first acquired Metates. When I asked Randy about the dilution from the A shares, he admitted that he had been a bit shocked at the speed at which this happened. But he stressed that this was an essential part of the deal to secure Metates, and a $900 POG is far more important to the eventual value of the project than the short term dilution due to the A shares -- especially if the costs of production come in at much less than previously thought. So, especially with the conversion of the A shares, CKG continues to be by far my biggest holding, and I'm even more comfortable with that than I was a week ago. Best regards, Howy

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