Ann: Global Resource at Korbel Main Grows to 4.7Moz Gold, page-122

Well,i must say as the results show i been more optimistic than i should have. The resource upgrade came in more than 1Moz lower than i thought (its proven to be pretty though to (g)estimate half blind without ~half of the drill results announced..;D).

The lowered cut off grade(to 0.15g/t) came trough as i expected which i see as a positive,the 3+Moz at 0.45-0.5g/t also didnt came trough,instead we got 3Moz at 0.4g/t,and 1.8Moz at 0.5g/t which i think would underpin good economics for the scoping study even without oresorting but with ore sorting it will deliver even better.

I also think that the lesson is clear for me,a more conservative approach would have been helpful from my and from our management side as well.

Before the resource upgrade already compelling value was proposed by the market to us and for my opinion this value only increased with todays announcement althought the dissapointment might blur many peoples glasses for now a few will see right away that regardless of ones disspointment the company value indeed increased significantly not decreased, and so the value proposition compared to last week only have grown. I do expect eventually stabilizing and growing share prices in the near future.

Have a great day everyone!