resourse upgrade, page-25

Don't let the so far weak market response to this upgrade worry you, this is a VERY important announcement. Moving resources over to measured and indicated is the only way to get a strong DFS out. Companies CANNOT use inferred resources for a DFS. I've been stuck with one other stock that has a low level of measured and indicated resources and the delays its caused in getting an economical DFS is quite frustrating to say the least.

So for MYG to now have an approximate 7 year mine life at 50k ounce production rate should paint a good enough picture to move to production. Based on the IRR of 83% (I think) on a 10 year mine life from the scoping study we won't be that high but still should be more than strong enough to proceed when the DFS comes out.

I always said in the current market a resource upgrade may not actually move the price much but if you are long term it's extremely positive and the company just continues on the right path regardless of share price. Boring as it may be the end game is making production and millions in profit, even if production commences Q1 2013 it's really not that far away, doesn't seem that long ago this year was starting.

More confident than ever we're on a winner here, I nearly got a small top up filled at 7.9cents then the buyers started coming in. No matter I'll wait it out could easily retrace anytime and I'll get filled or it could begin its run up, either way I'll be happy this time.