SMF and AVR opinions please.

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Avion holds 80% of the Tabakoto and Segala gold projects in Mali. Gold production commenced at these projects in 2009 with approximately 51,290 ounces produced. 2010 production was 87,630 ounces of gold.

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Art27

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SMF and AVR opinions please.

posted on Nov 29, 2009 04:11AM

Compare these two. Both are producers in West Africa. SMF $4.50 is currently producing close to 200,000oz at $450 cash cost. Shares outstanding 250mil (similar to AVR)

AVR is following the same path as SMF and plans to produce 200,000oz by 2012 at $450oz cash cost. I think the only difference is SMF's resource estimate ~7mil oz inferred M&I versus AVR ~2mil but we will add more. Ultimately AVR plans to be the consolidator in west africa producing 500,000oz in 5 years time. Also, interesting comparison AVR $0.45 to JIN $2.70.