pedra branca, page-14

Last drilling results announcement: 22 March 2012

- Oustanding Gold Results at Pedra Blanca
- Assays reecived for holes 1 & 2
- Assays pending for holes 3 to 6, which all intersected the PB structure; pulps sent to Belo Horiztone for analysis

Last exploration update announcement: 27 March 2012

- IP Survey Identifies High Priority Drill Targets
- 21 drill holes planned as a result of IP targets generated at Ze Vermelho
- 2 rigs currently dedicated to these holes; mobilising third rig

Last quarterly report: 1 May 2012

- Diamond holes 36 to 40 drilled at ZV; assays due end of May
- IP generated drill targets at ZV yet to be drilled
- 8 holes now drilled at PB; assays received for holes 1 & 2; assays for remaining 6 holes pending
- 5 holes drilled at Jacutinga; assays pending
- 5 hole program commenced at Filao do Meio; first assays expected end of May


Its now been +2 months since any assay results have been announced, with results overdue from PB and ZV, and expected from Jac and FDM. Seems obvious there have been delays turning these results around and releasing them; hence significant drop in share price in a bearish market.

Need to get the overdue results out ASAP, hopefully will see something next week.