The management sounded comfortable.

They stressed that 1000 tonnes of cons were transferred to Q2.  Value appr 7.8M

D.Dimitrov also said that 2000 ounces of gold dore´in the circuit also was transferred to Q2

Value appr 3.5M.    Means total of more than 10 MUSD.

Means that Q2 will be better than Q4.

Only one analyst was there : Doulis.

BUT his concern about working capital is important.

D.D. answered that : 

- there will be no more draw downs / appreciation of Fabulosa loan. Instead pay backs, as BW said.

- Short term loans at Bolivian banks will decrease from appr. 10M to 7M in 2013

- Short term loan from Anglo Pacific of 3.5M will be paid off in June.

D.D.  :  We will start to accumulate cash during 2013.

AND Doulis was satisfied . So am I.

Copperwood : final permit is expected shortly.