Dolores Mine - Sierra Madre

A New Mid-Tier Gold & Silver Producer - Mexico

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Message: Full Speed Ahead

Full Speed Ahead

posted on Jul 09, 2008 11:40AM

As we wait for the leaching to start on the ore lets take a look at what we have to look forward to.

MFN still expects to pour approximately 40,000 ounces of gold and 1,000,000 ounces of silver before the end of 2008.

Once the leaching starts it will take about 20 days before the first dore bar can be poured...

Management has already made arrangements to sell the dore bars at the mine so they will not loose any time in having to further refine the gold and silver ...this means that cash flow will commence very soon after the dore bars are produced and sold..

The company should be cash positive by the fourth quarter of 2008 ....being cash positive is a major step for Minefinders since that has only happened before after the issuance of either stock or debt .

With the successful start of production we will see the short interest in this stock drop as the shorts scramble to get out and cover causing increase in trading volume and a rise in the price of MFN...

A little more patience and we will be through the doldrums...

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