Member Info for AndrewFfoulkes

Funny how we can look at the same information and take a diametrically opposing view.

I still maintain only weeks to permits, I'd thought 8-12 of them at beginning of this month, so now down to within 8-10. Gulp....now that is sticking my neck on the block.

dustmite

Do I, well I suppose I am.

Long, long before October!!!

B what I was trying to ask (perhaps badly) was are you suggesting that the artisanal mining from La India is currently supplying 90 odd processors. If that is the case then surely the CNR numbers for artisanal production must be grossly underestimated as 90 processors suggests industrial scale production of ore. From recollection CNR were projecting around 10koz pa were they not? If it�s significantly more than that we will, I assume make significant profit just from artisanal processing work.

B are you suggesting that 90 processors will be affected by the pickings of artisanal miners at La India? That would suggest the present haul is on an almost industrial scale and CNR have got their numbers wrong about artisanal production.

tester123, based on the amount of work undertaken by our company prior to formally submitting these amendments I strongly believe that it will be weeks rather than months. Don't ask me to guess at an exact timeframe and I appreciate that Nicaragua can move at its own pace but I'm hopeful that we will see swift action in regard to a decision on these amendments.As has been suggested, we will need a PC but I believe that'll be more of a formality rather than something to be concerned about.

Going to stick my neck out here and suggest weeks rather than months to PC and Permits.

"The Company does not expect that the changes to the La India Project as detailed in the amended ESIA will materially change the mineral reserves, mineral resources and the production rate disclosed in the Technical Report"

That's pretty difficult to achieve these days, scantily clad women used to be a good way to attract the 'blokes' but I suspect even PDAC probably wont like that now. Seriously though does our exploration and asset not speak for themselves to the serious and discerning investor. I'm not sure what else we can do apart from talk bullsh*t about our prospects.

"one of the highest grade undeveloped gold districts out there" "close to a breakthrough on permits"

The trend suggested a buy, there is almost zero chance it was a sell and our price rose. Trend is the determinant here, not trade price..

??

I would reply 'nothing to see here', it's not unusual for CNR to see low volume days, we will most likely see something later.

I tend to agree with your interpretation tester123, My gut suggests that Mark is probably talking to a funder who may well be a potential 'partner' to take this asset forwards to BFS and beyond. Permits are probably a given on the basis of a no resettlement option and may well come earlier than we'd hope.

Yes, he's circulated to everyone on his email list I assume. He obviously wanted to make these facts crystal clear to all shareholders, seems to be a bit of negative bullshit taking place and this is his opinion, which I regard as somewhat more credible than anyone on these boards. I'm quite sure if you email him for an original copy he will oblige!

Shareholders, Last night I gave a presentation which was not recorded. This was a public forum of around 100 people at a Proactive Investor evening. Attached is the powerpoint presentation. My comments below are a repeat of comments I made during the presentation, are therefore in the public domain and I wish to share with other shareholders. Slide 9, is a new slide. It shows the main resource of 1.3M oz gold at 3.5g/t gold including the open pit resource of 904,000 oz gold and reserve of 675,000 oz gold at 3.0g/t gold. The point I made is that there is no village on the photo. The village of 330 houses or 1,000 people is off to the far left of the photo. The village is not located in the middle of an open pit it is outside the pit. Slide 8. Permitting. As everyone knows the 18 month delay on permits is due to the resettlement. The delay has had a very negative impact on the share price. The Government has dithered over permitting a mine which involves resettlement yet repeatedly said they will permit the mine. I made the point that no stone is being left unturned to obtained permits. Quote: "I have not been twiddling my thumbs waiting for permits, which the Government has said they will issue. I have assessed options of progressing with the construction and operation of a mine without resettlement." It is technically feasible and economically viable to progress the mine without resettlement with an open pit approximately the same size as the PFS pit which has an economic reserve of 675,000 oz gold at 3.0g/t gold, with production of circa 80k oz gold per annum. This was a reply given to the moderator. Note that the reserve pit contains inferred material which is excluded. In other words, the recovered gold to the ROM pad is over 700,000 oz gold. We are studying how fast this can be mined. We are permitting 35% of the gold which can easily add 1M oz gold. We was to mine the starter pit quickly as there is so much gold that can be added laster to a mine plan. Slide 16, the target is to expand to 3M oz gold in the core area. I commented this would be 2M oz recovery gold over the life of mine or approximately 200,000 oz gold per annum production. I met the following people in Nicaragua last week, more senior people than during the previous 18 months Minster Mansell, the Minster of Energy and Mines President�s son Director General Department of Mines Director of Inward Investment Agency Governor of Department of Leon (the mine is in his department) Local Mayor Local Priest Head of Chamber of Mines Why? Because significant progress has been made on permitting the mine. The mine will get permitted and there is a clear path to a substantial 200k oz gold producer.

Plan B with maybe 700k oz of recoverable gold and a probable additional 3 feeder zones is still a very attractive proposition.

My own view is the market is probably bored with the story, that's a very difficult situation to change. Mark has been telling us for many years now, only positive things and been unable to convince the small PI's who buy this type of investment story. The TSX is the last throw of the dice. He has however convinced some very serious investors to buy in, so it is perfectly possible that we are one of those rare things were fortunes can be made whilst PI's sleep at the wheel. Time will of course tell and this is probably that year!