disappointing, page-46

Havent had much time to post today.

Took a fair chunk out of my portfolio today and like the rest of you Im disapointed but still have a longterm view as I want to see Fekola drilled and added to the resource.

My take on the situation after looking at the drill results is that we have lost the Oz's in FMZ inherited resource of 650K Oz at 3.17g/t.

FMZ now stands at 306 763 Oz at 2.69gt. That is a loss of approx 244 000 Ozs and a reduction in grade. Whoever did the resource calcs for the original resource was considerably more generous than Snowdens.

FSE and FNE added 520 000 Ozs at lower grading that would have seen us go to 1 100 070 ozs if the inherited resource stood up to Snowdens scrutiny.

Due dilligence could have been better in the original deal but it may have been the result of the further geo information obtained by PIR drilling out more of FMZ and the conservative nature of Snowdens.

Fekola is the key eithier way, much wider mineralisation and longer strike which should add considerable ozs and there is no more old data to be reinterpreted.

Retrac