Wednesday, March 01, 2006 6:13:01 PM
This is my first post on this board, or any iHUB board for that matter, though I have been reading nearly every post since I bought in soon after they closed the first acquisition in December.
One thing I'd like to bring up in regards to recent posts... drawing correlations to other mine companies are basically meaningless, in my opinion. There are no hard recovering costs, and the company freely admits that the little machinery it does have for recovery is outdated. It is terrific that the company has 7.1 million ounces in the ground, but that doesn't mean a whole lot if it costs $1,000 per ounce to get each ounce out. At the supposed 20-30 g/t estimated for the easiest 3 million or so, I doubt this is the case, but the facts are we don't know yet.
I am not trying to bash this stock. That would be a dumb thing to do since I am long. I am just trying to bring new issues to discuss on the board.
For the tally, I have 90K shares. This may be nothing to some of you on this board, but it is a lot for me.
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