Dr. Michael Stocker joins us on the line from Switzerland is Dr. Michael Stocker from Constitution Mining—, Michael, welcome to the program.

1. When you look at all the possible applications of experience you’ve had, holding a PHD in Economics and an MBA, what is it about the prospect and promise of Precious Metals that caused you to go into the mining business?

2. In the business of Gold mining, give us a sense of the operating economics AND the risk management piece. What might those of us not in the business not be aware of?

3. From the CEO perspective-your fundamental mission is to build shareholder value. What are the key drivers-how do you build shareholder value in the mining business?

4. Talk a little bit about the science of Gold Mining-what does this involve and what are some of the nuances?

5. Many of our listeners may not know w gold gets made in to coins or bullion. What is the physical process look like once your company has discovered and mined Gold in a particular region?

6. Let’s talk about the pricing environment of Gold from a global perspective. What relationships do you tend to pay most attention to?

7. What drives your stock price-where is the market sensitivity. Is it about the efficiency of your processes, ultimately driving EPS, or something different?

8. The Stocker Group offers Risk and Knowledge Management to international clients in the mining business and other industries in 11 countries. Where do your clients need most help when it comes to Risk management, and what is your general approach to assisting them to that end?

9. When you describe an area as “Mining Friendly”-what does that mean?

10. Give us a picture of some of your current projects and a sense of the nuances of challenge and opportunity each one offers….

  • northeastern Peru (Gold Sands project) and
  • Nevada’s Walker Lane gold belt.

They are mining-friendly. Characteristics we seek are:

  • Taxes and sovereign royalties are reasonable, set at levels to attract investment (not discourage it).
  • The legal regime for mineral rights is well-developed, with clear, stable rules and procedures.
  • The permitting system for mine development is rational and efficient, to protect miners from needless delays and uncertainties.
  • The political system is stable, so that there is reasonable confidence that the rules won’t change radically during a mine’s lifetime.