Ann: Update to Shareholders , page-12

From that article...

"In fact, the reserve, reckoned in more than one million Ounces, would report in annual utilities more than 200 million dollars and the necessary investment to start this project of 150 million dollars", indicated.

Cordova appears to be of the understanding that the reserve is now over 1 million oz's yet at the time of the last report, it was listed as 787k and future drilling (carried out but not released) to increase.

Where did he get this impression from?

In ground value of 1.65 billion....surely they can at get at the very least, $5o bucks a jorc oz....$13 bucks an oz would be 2 bagger from here.

Ray has a huge holding which owes him big time and he's not getting a cent for services rendered....just trying to protect his/our cash.