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9/19/13

Continental Gold (CNL.to)

So I was reading through the Continental Gold (CNL.to) update NR this morning, like you do, when the thought suddenly struck that hey, what's all this about a PFS for 2014? They were supposed to be going into production in 2014, weren't they? As CNL is a company I follow but not closely I wasn't too sure, so it was off to see that nice mister google immediately and sure enough, in September 2011 when the company offered up its first 43-101 compliant resource number...
Continental's CEO, Ari Sussman, commented "The strength of the Continental Gold team is the desire and effort to always achieve more. This initial resource is a reflection of their dedication and puts the company on track to achieve its goal of commercial gold production in 2014.
A litte extra searching even found Ari Sussman promising production in 2014: 
Buriticá will be producing between 200,000 and 300,000 ounces of gold a year by the end of 2014, Sussman promises.
Promises promises, this is mining, sold to you suckah. That was two years ago, so what happened to the timeline and do you think that this delay may have contributed to the 50% drop in the share price of CNL.to since then? Yeah maybe, but fortunately we have no reason whatsoever to doubt that CNL will be able to deliver its pre-feas in 2014 and move to a slated production start-up (no promises any more) at the end of 2016, as it now calls. And of course, all that talk about being "on track" in the latest NR, that's beyond reproach.