Avocet Mining 2005 – towards 300,000oz gold production in 2006.

Not "well positioned", AVM is the single best mining stock at these prices. Over a 5 year time frame no one offers better value except some explorers and that is a game too risky for me.

Back in 2003 I wondered why stocks like GSS were valued at insanely high price levels.. here you have it, -74%. Yet, GSS has fully diluted 168 mio shares before the latest offer and before the takeover of St. Jude. After St. Jude it's 206 mio and after the offer 237.6 mio shares. At the time I looked at GSS a few days ago the share price was US$2.5, so a US$600 market cap for 4 mio oz in reserves and ca. 200,000 oz in current production and 500,000 oz production in the near future (2 years). That's US$150/oz of reserves and US$1200/oz of production.

Hey, GSS managed to loose 74% and AVM is still way cheaper at US$920/oz of current production and US$577/oz of "near future" (4 years) production including Taror/Chore.

Lower cash costs, too.

GSS -74%, AVM +70% and still cheaper 50%. Buying AVM now is like paying US$1.20 for GSS which traded at 8.50 two years ago.