rewards at hand, page-5

Gooch

Spot on with comments

For project costs, best for people to go and have a look at costs being declared in NI 43-101's which are of Mining Companies operating in Burkina Faso...look at IAMGOLD, Endeavour, Cluff....you can see this at www.sedar.com

However it is not that easy to get to the bottom of the real costs, but you can get a more informed basis for determining costs. Total costs can be of the order of $40/tonne....watchout as this is function of some parameters like grade, recovery, strip ratio...but using this and allowing for slop...it is not hard to determine that the Batie project will have a sub 2 year payback, and it may well be very sub....especially if they start on the higher 2.5 plus gpt material....so have a look at the sedar site...the company ASX, TSX reporting is a mess in terms of operating cash flows and unit costs and very hard to determine real costs, which is one reason why gold miners have been trashed....their reporting of real costs is very murky and opaque....I have commented on this in previous post,...

....

As an aside I just caught up with a good friend over some Xmas and New Year beers.... who worked for a few months on the Gorgon Project. He has worked all over the world, in many sensitive and far flung locations, but never in his career of 35 years has he seen the environmental hurdles that the project has in front of it.

Having to

peel certain fruit and veg and wrap it before it leaves Perth.

effectively dim the lights on all sea vessels at night so as not to disturb the marine life at night.

and it goes on for pages and pages. He has quit to go elsewhere. He prides himself on delivering value for the large amounts he earns, but he said it was like trying to run a race with both legs tied together, and his hands as well. A most frustrating affair, .. no wonder there are cost blow outs...

...

Another friend revealed the sad story of having some ground in outback Oz, but after 3 years have still not been able to do any real work...environmental, heritage clearance, in-fighting and squabbling between claimants...thank god for airborne geophysics was one comment...

God luck in the New Year, its got a good feel to it already