Ann: Quarterly Activities and Cashflow Report, page-64

Hi Pirate, Re my posts-Unfortunately the market updates re; COYOTE commissioning
have not been clear enough & are therefore ambiguous to many that have understandably little practical understanding operationally-some what like yourself.

I doubt whom ever put the these reports together has a clear understanding
operationally themselves, this has resulted in investor confusion , many have
confused the C.I.P circuit gold with the coyote process plants gravity process side
in circuit locked up gold, clearly the viability/profitability of coyote operations is questionable if this is misinterpreted when numbers are crunched.

Read my most recent post on this subject & then re; read recent quarterly report
eg pasted from cover sheet -Comprising 8,281 ounces sold and 1,732 ounces in circuit?-"this is not locked up gold."
Then continue reading report & refer to bottom,
of page 2, pasted-from this material, 8,281 ounces of gold had been recovered and
a further 1,732 ounces was in the carbon circuit pending stripping, thus indicating
an overall mill-accounted recovered grade of 7.6g/t gold.
This clarifies; the 1,732 oz mentioned is in C.I.P circuit & is not gold locked
up & retained in coyote .

There is no mention of the coyote process total retained/ locked up
retained in process circuit gold that can be estimated @ 4,218oz,
clearly there is a large difference in calculations that determine viability
if this is not taken into account - thus the s/p today.

What a monumental FUK UP!!!!!!!!!!


Thus me trying to relay some understanding of the Coyote process operations.
I am not being apologetic as you put it