upgrade to mansounia gold resource, page-4

Yes,your right about the inhouse knowledge Welkin.

CIG (CASPIAN) orginally had 15 percent of Mansounia.
On a BFS study their interest would drop to eight percent and BYR would pay CIG $500,000.

A quick look at the BYR December quarterly says

"The results from Mansounia provide support for committing to a study of development options"

It doesnt say what sort of study.

Maybe Im splitting hairs,but a look at the CIG quarterly,says their interest in Mansounia is now eight percent.

At the AGM I asked what study would be required for CIGs holding at Mansounia to drop from 15 percent to eight and,the answer I got from Susmit Shah and Ron Gajewski was a BFS study.

Will be interesting to see what the Mansounia study is called.

From CIGs 2010 annual report
Burey can earn an interest in the project by competing a feasibility study with at least 200,000 oz gold reserves,at which time Caspians equity would reduce to 7 percent and Caspian would be intitled to a US$500,000 cash payment.

Please note the discrepancy ,which is it seven or eight?

Raider