Ann: Lorena Gold Mine Update, page-3

The lower than expected grade is a concern as is their difficulty in selectively mining for high grade ore. I am also concerned that their recoveries are lower than expected. The independent review of ore treatment is a positive. If they can lift recovery rates at the current grade, they may be able to stay afloat. I'm not planning to invest more of my hard earned until a clearer picture of costs emerges.

Good news is that ore throughput is going well and they are selling gold. Not so good news is we don't have information on costs at current production parameters.