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Message: Great news...on a day where gold is up $25!!

Great news...on a day where gold is up $25!!

posted on Jan 04, 2010 09:31AM

This company came back from the brink of bankcruptcy to aspirations of becoming a mid tier gold producing company within 1 year! Congrats to Marguerite for organising all this!!

No more roalties as per the NR is very good news as well.

Only 3% of reserves and P&P resources at Lamaque are hedged and promised to Deutche bank for the $33M loan.

$60M in equity and loan financing in a company that was already cash flow positive will give us the flexibility to really develop our resources.

I think this company will have an excellent 6-12 months and beyond.

Glorieux

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