looks good punters, page-21

The fall in the share price may have something to do with TKG selling, but I expect that they are not the only ones. Instead, IMO, it may have something to do with the poor resource numbers that have been reported in the announcement, and the general selling as a result.

I note that no-one has raised the following, and it makes me wonder why:

This is a significant reduction in resource within 8 months.

I would love comments on this. I note from the announcement that the change from the April 2012 resource has been explained as:

- changing from a large scale open pit to smaller open pit with underground bulk mining (maybe by if MNC is extracting less ore in a smaller pit it should be more targeted thus raising the average grade - this is not apparent in the comparison);

- the April 2012 resource did not use hard boundaries (this may explain the difference. That is, marginal profitability so the proposed mine has been reduced)