Bandera Gold Ltd (fka BGL)

[I-Glow]

You are missing the point - Bandera isn't trying to fleece investors by doing a PUMP and DUMP.

Actually, if you had taken the time to do your own research and DD you would have found that in 2006 Tumi Resources abandoned Cinco Minas because of unacceptable mining conditions. Tumi wrote off $3 million in acquisition and exploration costs just to get out of the Cinco Minas money pit.

So Bandera is doing the prudent thing in not throwing good money after bad by wasting shareholder money on a dead mine.

Cinco Minas
After a thorough technical evaluation, including three separate drill programs and a comprehensive economic review
of the Cinco Minas property, the Company has decided to withdraw from the option agreement with Minera San Jorge
S.A. de C.V. Although a resource was established for Cinco Minas, the results of a scoping study previously
undertaken by Behre Dolbear indicated a very high strip ratio for an open pit mining operation, such indication having
been confirmed by in-house studies performed by the Company’s technical consultants. Additionally, a review of an
underground high-grade mining option gave resource numbers too low to be of interest to the Company, particularly
when having to deal with a large number of historic open stopes. In summary, a combination of a very high strip ratio
for an open pit, underground open stopes, and an option to earn only a 60% interest with high underlying holdings
costs, make the Cinco Minas property unattractive to the Company from an economic prospective. To meet the
Company’s exploration goals, a project must also be able to reach “advanced project status” quickly and cost
effectively. Neither the open pit nor the underground options meet the standard for operational size and economic
potential. Accordingly, the Company wrote-off $2,903,371 in acquisition and exploration costs.

Real DD is a beautiful thing.

IG