Ann: Issue of Performance Rights and Unlisted Options, page-56

Always a tough call @Arnobay , you could bail and get what you can, then jump back in on a good announcement or not.. Or keep holding and see if management can sort the mine out.

For what it is worth, I think management sending ore to a third party CIL plant to get a definitive answer in regards to the plant performance, is a big step in the right direction. By all accounts the gold is, and has always been there, getting dilution under control, getting costs under control and extracting ALL of the gold have been the focus of new management.

From my site visit, I can tell you that they have significantly decreased dilution and measures are being put in place to further improve the dilution, such as separating mining and development. Cost have been slashed, I think ~400 oz a month will cover all costs at the moment with further savings planed. The final step is sorting out the plant, Richard has been trying to produce gold with one hand tied behind his back and the other hand in his pocket. There has been no money for him to make the changes he wants to, the hammer mills where a stop gap at a good price, but are not enough.

They will have the CIL results by now for sure and putting a plan together for the market as a path forward. I expect the next announcement to be a good one, IMO we are not recovering anything like 70 to 80 percent, more like 50 to 60 percent. Opting for a VSI and not a ball mill as the original plans called for was a huge mistake IMO, and we have been paying for it ever since..