posted by oldstock

There is lots of time for those in the area to take in the resource show.
Capital structure as of early April.
Shares outstanding..................127,902,818
Options outstanding...................12,720,000
Warrants outstanding.................22,614,931
______________
Fully diluted........................... 168,372,419
David feels the 8 million shares from the Dec financing are in good hands. He does not see them bailing out just for the sake of raising cash. One can only hope.
Ramp will reach the Bracemac mine by Dec of this year. They will then build the interior ramp up and through Bracemac.
At some point in 2013 / 14 the ramp will be completed to the McLeod zone. The interior ramping will start up and at some time in mid 2014 drilling of the lower and deep Mcleod will start up. They have some high hopes as to how it will all play out. It should be mentioned that the Bracemac zone is not fully developed .and it is likely there will be some additional tonnage. Perhaps not huge but 100,000 tonnes here and there is nice.
The 727,000 shares were disposed of in a Private trade that the Institutions use. It sounded like the buyer wanted to remain under the radar.
David said there was about 6.5 million in the kitty. He also said that most of the 25 cent warrants have been dealt with. The numbers don't jive but it would not surprise me that the ones still on the books as not being exercised, will be, and the stock put away. Nest issue is the 30 and 35 cent warrants.
The PD1 will come into play as extra mill feed to bring production up to 3000 tonnes per day. It really helps out economically as it is cheap to get and fully utilizes the mill. A scoping study is being done on the lower section of the PD 1 and it is anticipated that they will ramp into it once the open pit is full tapped out. A huge win in saving money and making it economically feasible. There is also realistic hopes that very close to the PD 1 they will find additional stacked zones. Orchan West has a deposit at approx 1000 meters. Small deposit that has not been tested in any real way and could be much bigger. Also high grade. They hope to have 2 - 4 drills on site this summer and the focus appears to be Radiore 2. Drilling will resume end of May ish. Spring breakup is currently stopping the process.
All old mine sites are on the radar. It is felt that most of these mines did not fully check out the areas around the small deposits they found. This is in fact a high priority.
Commodity prices will be what they are when the time comes. Most people I have talked to and read thir articles are predicting higher prices. Who knows for sure. I think it is a safe bet.
There was an analysts report that was due to come out a few months ago and the guy involved changed firms and it died on the vine. A lot of time and effort had been put into it. I believe there was a case made for a $ 0.60 value per share.
All costs for mining are stated in US $. There could be a 10 % saving right there. IMHO
Three weeks ish till the chunk of warrants are exercised or not. The share price went up 5 - 7 cents with very little resistance. That was nice to see.
I had a long chat with Adair and Patterson and some shorter ones with Andrea and Catherine the IR girls. The atmosphere is very contagious. They truly believe, as do I, this could be very big. Time will tell.
GLTA