AUMN: Furthermore, according to Clevenger...

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Silverbull50

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AUMN: Furthermore, according to Clevenger...

posted on Jan 18, 2013 03:46PM

I just spoke to Clevenger and he added the following points:

1. They are doing everything possible to become "Cash Flow Positive" as soon as possible! Cash flow is their main focus and he stressed the desire/goal to improve quarter/quarter throughout the year. There will be much more discussed on this issue in the Q4 '12 (mid-Feb) Financial Statement.

2. After extensive testing, he believes they will have answers on the gold/metallurgical problem indentified. It won't be corrected yet, but the technical problem will be identified with which they can make the necessary adjustments.

3. We can expect to hear more regarding drilling at El Quevar. He also believes that it will be prudent to conduct some additional drilling at another former ECU property where grades are assumed to be very attractive.

I continue to believe that we will hear more in the Q4 '12 Financials regarding asset sales, joint ventures, etc.