Ann: March 2012 Quarterly Activities and Cash Flo, page-5

re: Ann: March 2012 Quarterly Activities and ... heron
they also have 29m lbs currently subject to a PFS
in tanzania - calcrete
plus 14m lbs at thatcher soak Australia - calcrete

total of 49m lbs lets call it at 1.00 in ground

we have 3.33m lbs to date yes plus/minus positive disequilibrium at an average of 1.63 so lets call it 5.5m lbs with at market cap of 10m so think we are doing ok for now

but yes if your point is that what we have is economical
then yes we are as the last report stated on par with Honeymoon and Beverly.

interesting that Beverly have now been mentioned