Ann: Revised Kaiser Resource Est Improves Confidence and Grade, page-3

grade not as good as expected and did not make up for the loss of tonnages from the 0.4g/t cut-off grade for the UG component. Also, it seems, they took out some other areas in the shallower parts.

overall ok result and only highlights how right I was for calling for more drilling to be done with focus on the higher grade zones to increase the overall resource and the economics of the project.



got response from Nic earlier regrading the recovery issues at Caloma2. ALK are now doing additional carbon tests at Caloma2 but not at other areas as they haven't seen such issues elsewhere. I pointed out they did not see such issues at Caloma2 either... until it happened. Make of it what you want.

I also asked him how many holes they are drilling at Boda2/3 (around 108 and 094) and his answer was.. from memory around 2-3. My understanding is they planned 3 holes.