Dear GOLDIGER, IMO you are a very shrewd investor. At this point the price of gold will affect virtually any junior mining company regardless of primary mineral. This is due to the fallout that we are still receiving from the likes of Brex, Delgratia etc. This should be a relative short term thing. Long term the outcome will depend on the economics of the project.
Recent studies on this project , by TECH, have indicated an even coarser ore mix could be feasible. This should increase grind rate even further and will increase mill output .
The government of Panama has really layed out the red carpet on this one, with numerous good tax concessions, and an increase in the land tenure to 65 years. The government of Panama wants this project going badly.
The recent 3 million assurance bond to the Govt of Panama, tho small potatoes in comparison to the overall project, is a pledge by partners to Panama. CREDIBILITY is now the issue. TECH effectively "mothballed" this project for one year, by not completing the final feasibility last Dec. The Panamanian Govt. will likely not allow any further slip ups. There are probably at least a half dozen majors that would gladly assume this project at this stage. As I've mentioned before, this project alone will account for nearly 7% of the GNP of Panama. It is World Class in every sense.... Hows that for HYPE.
I gladly await Jan 98 on this one, and predict this one will be a top 10 performer among the juniors in 98.
This one also has 30.00 written all over it,...........then some.
If this one should drop any lower, dont despair- buy more.
30 Mil shares are outstanding, but float is very small right now- PAC MAN has been going on a rampage.
Best wishes
Surething |
