Mining PRs and the Ottotrans™, Part 58

Our occasional series turns its gaze upon Extorre (XG) (XG.to) and its NR from this morning. It was a long one, with drill numbers and suchlike further down, so we'll zoom in on the bullet points XG offered at the start of the fun for the sake of brevity and focus.

This is what they said:

VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/16/12)- Extorre Gold Mines Limited (XG.TO)(XG)(E1R.F) ("Extorre" or the "Company") releases high grade drilling results from Cerro Moro and comments on current market conditions as follows:

--  Extorre is of the view that the current market for the Company's shares
    does not reflect the underlying value of its high quality asset at Cerro
    Moro.

--  Extorre is evaluating the potential for a staged mine development to
    take advantage of the substantial cash flows which would be generated
    from the very high grade mineralization accessible by open pit mining.     

The Company would then fund the balance of the capital expenditure
    reported in PEA-3 through operating cash flow.

--  This initiative is advancing rapidly as the Company is particularly
    sensitive to shareholder dilution. The financing alternatives being
    pursued will be those that are the least dilutive to shareholders.

--  A public announcement on the parameters for the proposed staged
    development initiative is expected before month end.

Continues here

And this is what it means

VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/16/12)- Extorre Gold Mines Limited (XG.TO)(XG)(E1R.F) ("Extorre" or the "Company") releases high grade drilling results from Cerro Moro and comments on current market conditions as follows:

--  Look, it's just not jolly well fair, ok? Stop selling our shares, will you?

--  Right then. If you're going to be bastards about this and not buy us out,  

we'll build the blinking mine ourselves. Hah!

--  After all, we have $30m in cash. Can't cost that much to build a mine, right?

--  And the fact that we already burn our treasury at $10m/qtr is beside the point, ok?