Ann: Kalgoorlie North Gold Project Mineral Resource Update, page-4

I guess it is saying, according to my Xcel spreadsheet that there is 825,000 ounces of gold available form the various resources.

At $1750 AUD/ounce that values it or Excelsior Gold at $1.443 billion dollars approximately.
At $1850 $1.526 billion.

So again using my spreadsheet if average cost of production was $1100 /ounce then and gold was at $1750, then profit or gross profit would be in the order of $536,000,000.

IF costs average out to $1500/ounce then profit falls to $206,000,000...over what ever period the Directors maybe talking about.

Anyway do your own numbers...I'm probably wrong!!

I guess they are not saying much... there is no blowing of trumpets...but I think that period is in the future.

Are they saying we are on to something big?
But lets qualify it first?

Thoughts anyone??????