Ann: Korbel Interim Gold Mineral Resource increases to 3.3Moz, page-232

Looking forward to more drilling to confirm. From the block model it shows clearly the inferences made in Block A, especially around SE11-001 (462m), this clearly needs more granularity from additional drilling. Block B extension to south is probably where more tonnes are most likely. C,D, Cathedral etc is more again (potential), so certainly not disappointed in any way, but I do think reason for not moving stronger on 2.5m announcement, and then this one, relates to confidence one can have from the limited drilling.

This report extends the detail, even more important than the additional oz. This report is adding confidence. The doubts about economics will fade as that confidence grows. Won't be surprised to see re-rating over next month as big investors start to get on board with the risk profile change as a result of this additional work, and again in December. Investment governance committees don't make knee jerk investment decisions, they write reports, submit to committees and make funds allocation decisions.

While I hold all of those roles and can make a knee jerk/super fast decision with my own money (not that I do), this is not a decision making process I can make with others money without due process. Pain in the arse as governance is, Investors are not day traders, and good governance does make for good long term decision making and thus money making. I am in this for the long term and I look forward to welcoming more long term investors over the coming months.