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Strategies & Market Trends : Ride the Tiger with CD

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To: ogi who wrote (174582)	9/14/2009 11:28:16 AM
From: E. Charters	Read Replies (2) of 314007

There is no IP anomaly on their ground according to the data from Kinross Technical Report. I see that EC has "found" an IP anomaly in their own data. You don't see it in the K map which covers the same ground. There is a SE trending fault cutting off the FDN deposit to the North. hmmmmm.... Condor is low grade despite the fabulous drill holes that seemed to emanate from the Goldmarca news announcements at the time of the FDN news. 1.3 gram gold deposits south of one million ounces, no matter how minable are not interesting to the market. There is a similar gold deposit south of FDN at the time FDN cranked up their explo program. It was not pursued. ARU owned it. Condor is also cut off by the Peruvian border it is admitted. There is a corridor of gold deposits which is fairly wide, about 5 km or so that trend NE-SW from FDN. FDN appears to be on the west side of that corridor, although there are deposits here and there farther west and definitely west of there in Peru. That is where you want to be.. about 5 to 10 km south or north of FDN. If you want to be in Ecuador at all with their present attitude about issuing drill or other permits, which seems to be borrowed from the CDN advanced permitting process. When we are good and ready is the schedule. Tomorrow. Maybe. Condor is also burdened by a 10% carried interest by the military and a 4% smelter return. Couple that with a possible 70% tax which is threatened.. so you cannot discount it, and your profit margin is not that attractive. There are easy mines to be found in friendlier regimes. It is interesting that of the 20 or so gold deposits in the immediate area, none of them have been hammered since FDN. I wonder. Well it is small wonder given the attitude of the Ecuadorian government.. but even back in the FDN disocovery heyday, there was scant action on these other targets. Funny. Were they too small? Probably.. EC<:-}

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