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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (188768)	6/18/2010 1:24:33 PM
From: Claude Cormier	3 Recommendations Read Replies (3) \| Respond to of 313481

May have said $50 was long term target if all developments goes as expected. That would have been a market cap of $1.5B which was in line with a production of 300,000 oz per year. This was a reasonable target given their assets some two years ago. But thing have changed. They issued additional shares..have not yet been able to produce decent gold at Zaruma...Ecuador played that dirty trick...etc So far, developments not going according to previous plans. We have to wait and see if they will meet Step 1 of the plan which is Zaruma producing 100,000 oz per year at $300+/oz. But I still own the shares hoping.