On the 25th. January VRE released a bullish quarterly report...

On the 25th. January VRE released a bullish quarterly report including details of Bronzewing operations:

"Operations

Bronzewing:
• 25,406 oz gold produced during the quarter, up 45% from previous quarter

• First +10,000 oz production month in December (10,300 oz)

• Leverage to gold price increases December revenue

• Ore presenting from four sources with grades generally consistent to feasibility study

• Ramp up continues with target 30,000 oz for 1st quarter 2008

• Further cost reductions underway to bring Bronzewing to cashflow positive in early 2008..."

Then just 12 days later VRE released bad news about Bronzewing including:

"The Board of Directors of View Resources Limited met on the site of the Bronzewing mine yesterday to review the January performance and the outlook for the immediate future.

The Company wishes to advise the following:-

• January production was approximately 6,500 ounces compared to an expectation of around 10,000 ounces.

• The tonnes milled were close to budget but the reconciled head-grade was below forecast.

• Management is working to understand and resolve the grade short-fall.

• It is now considered unlikely that the forecast of 30,000 ounces for the first quarter of 2008 will be met."

Question:

In view of what was released to the ASX only 12 days earlier, how is it possible for the situation to change so dramatically?

For example 12 days earlier we were told that:

"Ramp up continues with target 30,000 oz for 1st quarter 2008"

and

"Ore presenting from four sources with grades generally consistent to feasibility study"

VRE has now requested a trading halt, one trading day after yesterday's ASX release.