i read it as 1,260,000 ounces now.
The Company refers to its Prospectus dated 20 December 2005, wherein the Resource Inventory for the South Laverton Project was stated as 760,000 ounces of gold. Of the 15 or more deposits/stockpiles making up that figure, a review of the Resource Estimates on four gold deposits within the sphere of the Carosue Dam Operations has been undertaken. As a result, revised Mineral Resource Estimates have been completed at Whirling Dervish, Elliott’s Lode, Enterprise and Porphyry, which accounted for around 150,000 ounces in the previously stated inventory. The revised estimate of 650,000 ounces, as detailed below, represents a significant increase. It will form the basis of a Resource Inventory, enabling the deposits to be reevaluated economically.
760,000 minus 150,000 plus the new 650,000 = 1,260,000 in total.
I agree the announcement is badly worded.
SAR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held