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Re: early_retirement2 post# 134

Thursday, 04/19/2012 2:53:36 PM

Thursday, April 19, 2012 2:53:36 PM

Post# of 150
My best guess would be a bigger player would want to buy them or JV/merge with them. I would agree that they buying someone or something themselves would seem very unlikely at this point or at least until the turnaround is completed.

Someone made the good point over on the SH board that many of the miners in the area where these guys are have heap leach doing a big part of the gold recovery and now that they have the plant winterized they can do that also. Now with the plant up and running, they have additional capacity and if they choose can farm out work from other mines in the area. They have the roaster as a big plus too. I think they probably have had some interest from some bigger player/players and they want to explore those opportunities. I see the shares going much higher in the next couple of quarters anyway, especially when they hit that 150K oz. per year stride, which should be by the next full quarter. That maybe the better outcome for us as longer-term holders anyway.

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