Some observations derived from the web site (estimations) about developing Uzboy, getting past the heap leach process:  (written in support of the kid)

Uzboy sulphide measured resources grade is 1.41g (see web site)

no stripping ratio to put into production (oxide layer removed already, see web site)  saves them big money

carbon in leach processing implies est Uzboy cash costs of $555 and average all-in costs sustaining costs of  approximately $825, est. ? initial capital costs of only $125 million to $140 million to generate about 100,000 ozs per year (looks like a 9 year mine life initially), 93% recovery (kinross recovery), to generate an estimated rate of return of well in excess of 20% as long as the gold price is over $1350. 

(The Kinross (KGC) study for Tassiast shows that they have an expensive up front cost of $2.7 billion! that can generate a measily 11% rate of return assuming approximately $1200 gold).   They bought gold resource inventory of what appears to be estimated at 10 million oz, and they turned around and wrote down the asset by $5 billion.  Can you imagine flushing $5 billion down the drain just like that?  No wonder Kinross  has lost $12 billion in market value over the past few years. 

In doing some dd, checking back, it looks like Alhambra has a few good areas to see unfold that could each develop into multi million ounce deposits because they are located along a gold trend (Charsk gold belt Kazakstan) that has proven in the vicinity about 70 million ozs by others. The shirotnaia landscape is looking likely at 40 km length through the dumbraly area and is located 10km north of a multi million ounce aksu deposit and operations, and there is another area right beside a (north east) mine called vasilkovkoe too.  The shirotnaia  might be quite large and might look a lot like Tassiast with enough time and drilling (potential for 10mln to 15mln ounces).

The problem looks to be very simple.  It takes money to make money, and in this case, Alhambra looks like it has been penalized for a remarkably cold and snowy winter, and doesn't seem to have enough current capital to do diddly until they find a white knight backer that will turn the focus from a pilot plant into a $90 million a year profitable printing press with the obvious potential for very large deposit additions.    It doesn't help that ALH accounting is late, its a real slap to the company especially if they get nailed with a trading suspension - (however, when you look back at Kinross and see that they had their own accounting problems with filing, late filing and re filing during 2005 to 2007 and they managed to get through that pathetic hideous bungle) but the market cap value of ALH right now is $12 milion, imagine that, the market value price is $12 million (they have debt too) - representing gold resources of over 2 million ozs, 32,000 ozs being recovered (thx kid) <based on approximately 60% to 65% recovery factor> (revenue is a notably scarce benefit in the gold junior mining sector no matter where you get it).

So, when we look at the value destruction in Kinross, it's astounding that a gold mining company like Kinross could have conceivably bought over 1000 golden Alhambra co's with what was equal to the losses of their market value shrinkage.  Alhambra, having a remarkable 2.4 million acres of property and an emerging world class interwoven gold laced inventory, it appears that there is a profound extraordinary bargain at hand.   The only question now is how low will it go before the price is done going down and lets hope they get their financial woes mended sooner than later.

Thanks Kid for the vibe and push to look at this one.