Ann: Capital Raising Due Diligence, page-9

Thunder, following your reply I emailed Klaus directly and asked him why they took the approach they did. I have his permission to post his reply.

XXXXX,
I guess in summary we are more confident then other comparable explorers, hence we drilled 100m to 200m spacing .The independent consultant was not so confident (as they are now more conservative) and would have assumed 0 in between in certain areas, which would have diluted the resource. He recommended to do the infill drilling to give us a more realistic number.
The difference is also we spend to date 15 mill while other companies spend 3 times and more for their comparable drilling programs. Hope that clarifies it a little bit.

Regards
Klaus