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Friday, February 17, 2006 10:24:43 AM
My understanding is they are doing a re-audit of field assets. With a confirmation of the 5.2 mil gold and 30 mil silver, at current prices, they will be north of $4 billion in assets. (also gold and silver up again for the second day, the downward and short-lived correction may be over) With that many assets you can borrow a lot of money or find a partner real easy IMO.
I think you are spot on with the firm making the loan. If they are reputable and have name value, we go up big. An unknown with a spurious history will not help and may hurt.
I think you’re way low on the loan amount required. Just one 150 ton truck is about a half a million bucks. They will need about 10 or so, then dredging gear, cranes, perhaps crushers, smelter equip. This is going to cost some major dollars to do right. Here is an article about a Barrick joint project and a $160 million price tag to produce less gold than AURC. This area is key to AURUS success in reaching their goal of 384,000 oz annually. It is going to take some time to acquire a loan, build the infrastructure and get production going. But I believe it will be well worth it.
IMHO
Airdale
This post is an opinion and should not be considered reason to buy or sell any security, or to besmirch, belittle or berate any person, religion, cult, creed, race, sex, political party, company or company representative of any age or appearance.
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