Ann: Quarterly Activities Report, page-20

All well and good. However it would be I little difficult to raise money like that as NST does.
I believe NST has been an incredible producer say no more. However as stated EPS has not grown as much the last couple of years and they use resource upgrades or resource purchases to hide this. You still have to dig and produce gold in the meantime.
Brian Dixon tried to use theory and it did not work. (we all know).
I am not saying NST is anywhere near this but they having the law of diminishing returns. Look at the return on equity of NST over the last three years is it improving?