forming a base at 3.7c, page-6

As per August 22 Announcement:

"To determine the feasibility of pre-resource production by refurbishing some of the existing old adits to access the mineralised zone identified at shallow depth by the recent drilling success in the northern extension of the Glen Wills area."

Two points:
- Pre-resource production
- Shallow Depth

I'm no mining engineer, but if the gold is at very shallow depths it wouldn't cost/take as long to drill a large number of smaller holes???

Why would a company have the intention of spending capital on pre-resource production, if all they had was 55,000oz.

I feel that given the amount of money raised (at the time of a smashed market, and AT A PREMIUM TO THE SHARE PRICE) indicates there is some upside to this stock.

Even if such a rumoured gold resource in the long term was uneconomical to mine/justify the current share price, the upside of the SP in the short term of in the case of an increased gold resource is still there.

Thats why these gold mining minnows are for speculators not investors!


Cheers