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Gold/Mining/Energy : Andina Minerals

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From: james flannigan	10/15/2008 9:02:18 AM
	of 106

I spoke to the company yesterday. I will provide an update. They are going to slow down the exploration to conserve cash.($21) million.No need for more money for 18 months. They will focus on improving the infill quality of the resources instead of trying to find a lot more ore. A scoping study will be done in 09. They have multiple major mining companies doing DD as I write this. Conclusion: It is my view that with this depressed share price and some majors looking to pick up reserves in the destruction in the Jr resource space,they will get a bid if the credit market should improve over the next month or so. Barrick has a big deposit 40km away they bought from Arizona Star take over for $800 million. There is no way Kinross operating a mine beside Volcan can let this 14 million + oz deposit slip away to Barrick.This deposit is in the heart of elephant country.Barrick and Kinross like long life bulk tonnage mines with water rights. ADM fits the bill.The company is ripe for take over. James

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