Updates have been posted on the MDMN and CDCH websites. Neither say a whole lot and I have some thoughts on the reasons why, and why we are in really good shape IMHO.
First the update from CDCH;
November 18 , 2006
Dear Shareholders,
Cerro Dorado's associate, Juan José Quijano Fernández, has returned to Santiago, Chile following a series of meetings in Peru.
Negotiations are continuing with several interested “Joint Venture” participants for the Alto de Lipangue project and surrounding properties.
We understand the concerns of shareholders as we proceed through this process and assure you, management is working diligently on behalf of all shareholders.
The Company’s mandate is to optimize the opportunity for the benefit of Cerro Dorado’s future.
The Board of Directors
Now some thoughts:
Majors wanted everything absolutely quiet until the JV is done. Too many leaks in the past which rocks the boat. IMO this is all they could say at this time.
Think about it everyone... if this were a pump so they could dump, we would be getting updates talking about the big boys in great detail to get everyone excited. This announcement was just the opposite. JJ going to Peru would seem to say the majors are done looking or needing to be on the property, they want to get the JV done.Thus multiple meetings in Peru and ? It also said "several" not just two or one. Draw from that what you want lots of options.
The fact they are not trying to dress up a PR to look exciting shows they got confidence in what they will soon announce. The PR is nothing more than what some have asked for in the past. A couple of lines saying things are happening and they are aware of our concerns as shareholders!
Seems to me things are alive and heating up! The property is good enough to NEGOTIATE not just take the first offer thrown at us! It is also a known fact that the bigger the resources found on a property the more likely it is for majors to join together in a consortium. This allows them to spead the cash outlay to develop the property and spread the risks so not just one company is taking all the risks themselves. I am not saying we have a consortium. I just know the in the past they have talked about Hochschild and Sumitomo. I also know that at the AGM they said because Hochschild had put an offer on the table this has caused other majors to want to do the same. This latest update as I have pointed out says "several" not just one or two referring to majors.
This is a very good sign. IMHO
Holding strong and willing to buy on any dips! Very much expecting at least a 5 bagger on its way. IMHO
Good luck to all, if anyone would like to know more just send my your email privately.
GLTA
David
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