400k upgrade no i don't think so, page-12

There was a lot of drilling and I am hoping for a nice JORC, too. Going by my recent experience with CDU, however, I would coution against excessive expectations, so that the JORC does not disappoint those with big appetites. Much of IGR drilling has been exploration, and this will not produce JORC resources in the immediate future. What will do this is the closely spaced drilling, such as one at Majestic. To prove resources at depth we either need lots of deep holes, or a decline, followed by drilling from underground. It is possible that a desktop study will allow an estimate of some resouirces below current drillings, but I am not sure what to expect.

So, in summary, I am expecting a nice increase. I am only hoping that the market does not develop unrealistic expectations. I would rather be surprised in the nice way by the IGR JORC this Xmas.