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Bobwins

10/30/06 9:11 PM

#285 RE: avandalay05 #283

raven, columbia and GSML only have the Tara jt venture projects right now. lateegra has some other projects. I think it's riskier to invest in these startups vs Tara.

They have to raise millions by diluting PP's and then make the property payments and do the exploration drilling. If they hit it big, Tara will have their shares of stock in their portfolio as well as 20 to 45% of the projects. I like my chances with Tara. Much lower risk of dilution and multiple chances to gain positive cashflow.

Paramount is the only jt venture partner with substantial assets besides the Tara jt venture property. That would be the only one that I think would give you additional upside. However their other properties are in Peru and represent country risk higher than San Miguel.

So I think investing in the jt venture partners is unnecessary double dipping. I think Tara is the best play and would recommend finding other unrelated plays with good potential rather than buying the jt venture partners.

Bobwins