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NASDAQ : GORO / Low operating costs and producing high returns on capital.

Message: NR 2011 summary...still no 43-101, avg cost $136

From the GORO annual report conference call today (March 1, 2012):

  1. The 3rd drill that arrived at Arista is a $0.5M machine that can "easily handle 3 stopes".
  2. Arista Level 9.5 is where a "rose silver" formation has been found... 12m width, red in color.
  3. Life of Arista mine is projected to be 20 years at currently known resource extent.
  4. NI-43-101 for Arista is expected at the end of March 2012 or at the beginning of Aprtil 2012.
  5. After the NI 43-101 October 31, 2011 cutoff date, the drills that were dedicated to requred infill sampling were immediately re-deployed towards further exploration, and those drills subsequently showed really good (visual) results that will be posted as soon as assays become available.
  6. Geologists are working at or near capacity and the company is seeking more experienced geos to expand that capacity (logging core, etc.).
  7. Relations with local communities is very good and the company will continue to work with them to maintain the good relationship.
  8. Las Margaritas property appears never to have been drilled. Extensive surveys by GORO geologists turned up no bore holes.
  9. Company is actively seeking a CFO, looking for the right candidate who is currently working as a CFO, which makes timing critical/challenging.
  10. Company is looking for its next "grassroots" mining opportunity.
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