Alhambra last report on the uzboy gold deposit looks like this which is posted on the web site:

The information on the mineral resources for the Uzboy gold deposit as of December 15, 2009 is set out below. For additional details, please see the "Technical Reports" section of this website.

The resource estimate was completed by ACA Howe International Ltd. using a 0.4 grams per tonne ("g/t") minimum cut-off for the East and West zones of the Uzboy gold deposit.


Resource Category Tonnes Grade (g/t) Ounces
Measured 14,317,200 1.52 700,000
Indicated 7,009,500 1.22 275,500
Measured + Indicated 21,326,700 1.42 975,500
Inferred 11,258,200 1.17 421,700

If the last report was dated December 15, 2009, my question is, what has been done since then?  Havn't they done more exploration on uzboy over the past two and half years or so?

So either uzboy is worth a lot more than this previous report suggests or the company has been coasting.  Maybe they need to improve how long it takes to get their new reports out to the market to give us not only some idea of how much gold is there but also how committed they are to moving forward more effectively.  It looks like the stock is severely underpriced but with all these differing points of view of how long things are likely to take, maybe it makes sense that the stock is trading at half the price of the gold on the heap, let alone what 2.4 million resource ounces and 10,000 ozs production per year might be worth.  Maybe if the company was in Red Lake Ontario, the value would be about 25 times more.  Location location location is probably affecting the differing points of view, for now.