FR: I’m happy and have a few questions for the board….
Yes, the amount of gold recovered was disappointing and when I first read it, it just sounded like a bunch of worn out excuses…. But then I took some time to think it out and to read lots of opinions from those on this board that I have come to respect…. And I’m happy with it.
First of all I have to take John and Doug at their word. This always has been a “trust me” operation and it will continue to be that way. There IS a fuel shortage in SL, and I’m sure they have had equipment problems too. So I’ll accept that we only produced 48 oz. of gold. The comment of “in spite of gold grades being significantly improved” was encouraging. I wish they would have told us how much black sands we have stockpiled so far.
I’m very happy to know why they had to dilute more, and at THIS time of the season. Our production isn’t going to pay for everything, AND we purchased a tractor AND a fuel bowser. I have no idea what the price of fuel is in SL, but at $5 a gallon it would take $25,000 just to fill it up. SO that takes care of my dilution concerns.
Then there are the very encouraging comments about the Carbon Credit Project! “While the carbon credit market has softened due to worldwide economic issues, Sierra Gold has continued moving forward with project.” My question is this (and TOSCA, maybe you have read about this more than anyone!) If we are currently growing trees, then aren’t we generating carbon credits right now? Can we hold onto these credits and sell them later when we ‘forward sell’ the rest of the project? And if so, then don’t these credits have value and could be counted as an asset to the company right now? Do we know how many acres of trees we currently have planted? Approximately how much is the lumber from each tree worth when we harvest and sell it? Quote: “we will harvest the trees for sale in the Asian markets where Kiri (Palaumia) lumber has high value for its intrinsic designing value.
So overall I’m happy. And I’m disappointed that some on this board who are respected leaders with great experience turned out to be miss-guiding us, telling us that the information has stopped because of hurt feelings.. Glad they are wrong and John and Doug ARE still communicating with us!
Charlie
