Anatolia Minerals Development Ltd fka ANO.U

[Ed Monton]

$1.60 looks like support now. This is copied over from Stockhouse.

The following salient points can be extracted from the Anatolia PDAC presentation:
Çöpler:

Further drilling will start at the end of March to change the resource from an inferred to a proven one. Since drill holes are wide apart, infill drilling and drilling at the perimeter will highly likely increase the total reserve of approximately 4 million ounces.

The program is as follows:
Drilling: upgrade resource to minable reserve
expand known mineralization
Metallurgical: optimize leach circuit recovery
increase sulfide recoveries from 74%
Environmental: continue baseline data collection
social & environmental impact statements
Feasibility study: detailed review of Rio Tinto study
select engineering firm for feasibility study
Management: enhance engineering capability.

Time involved is approximately 1-1.5 year. A production decision will then be made, possibly late spring-early summer 2005.

The current thinking is to start a CIL (carbon-in-leach) process with an annual production of 150,000 to 200,000 ounces of gold. The oxide ore (1.4 million ounces) and part of the sulfide ore (0.5 million ounces) are readily leachable with economic recoveries for an approximate 10 year mine life, based on the current inferred resource.

Anatolia has the in-house capability to kick-start the process to develop Çöpler and bring it to an operating mine. Kinross is apparently very much interested to take part in this process and was given 90 days to submit a proposal, which could be accepted if it adds to shareholder value.

Rio Tinto j.v.:

Tunceli: drilling will start soon at two locations, Kizilviran and Sin. Unfortunately, Kirinti was disappointing and Anatolia did not even bother to publicize the drill values. (you can not win them all, altintash!). I think they have given up on this project.

West Turkey, Bursa: Two properties in this area will be drilled as soon as the season starts.

Apparently, both Rio Tinto and Anatolia have high expectations of Tunceli and Bursa.

Stock price: blocks of shares, like the 4 million shares Kinross bought, are no longer available. Several other companies wanted to buy in but were told the only way to obtain shares were through the stockmarket. This bodes well for the stockprice later this year, especially when positive drill results become available.