Reason Brazilian Gold project cost does not show up in Dec-2010 qtr report is that it did not happen until post 31-Dec-2010.
The 18-Jan-2011 announcement says IGS will expend $2m in exploration to acquire a 35% interest in the project. You would expect to see some of this expenditure come through in the Mar-2011 qtr report.
latin gold project, page-2
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