With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
"Expect to see an operations update first followed by the El Q resource update including many of the recent drill results."
I found the following message on Yahoo. FWIW, it confirms that the el Quevar update is somewhat delayed.
"We all know the El Quevar updated resource estimate was planned for the end of the year. Attached you may not know...info I received in a conversation with Investor relations at AUMN last week. Hope it helps you stay the course while the shorts continue to cover over the next few days/weeks: (Note: AUMN is the most heavily shorted Gold/Silver producer we follow, with a massive 25.9% SHORT. That equates to 8.52 DAYS TO COVER. Its book value of $10.24/sh vs price of $7.33/sh is also a glaring difference from the other miners we own.)
"An independent engineering firm is doing the new estimate, and is currently working on their report. In addition, we have recently asked them to include assays for 23 additional drill holes that we now have, which could delay the report a couple of weeks. However, it is important to have as much available date included as possible. The firm has not given us a firm date for the final report, but in a meeting with them (during week of 1/2/12), we were assured that they are diligently working on it."