could be back to 15c soon, page-15

Hi Goldduck,

"As for being able to put 50moz into an inferred resource category - a hell of a lot of drilling has to be done"

I don't think this is correct. Mark Lynch told me if current deep drilling is successful beneath 1200m, the inferred resource can be quickly upgraded thanks to the extensive work already done in getting to 10m oz, i.e. just from this SINGLE hole being drilled right now and intended to intercept several existing reefs at depths not previously drilled to.

However, I do agree with the Doubting Thomases that there is the greater need to convert existing inferred resources into the reserve category. It's exactly what CTO is doing with 10% to be converted this yr and another 10% next yr hopefully.

Rowingboat.