Ann: Bellevue Resource More than 1 Million Ounces of Gold, page-15

@blooreeler

"I assume a lot of this gold will be taken from extensions
of the old underground drives.?????"

I can not say since I am not a geologist. My background is in economics/accounting. I have been speculating in mining shares since 2005.

@hashtagwinning

"My take away from what your saying Loki, is Steve marketed a poor asset taking its SP up 30 X before reality hit the market."

I am saying one needs to be careful with this guy. He is no Bob Vassie (who under promises/over delivers) . This time could be different, I just do not know if it will be. He did not care much about shareholders at GRY, spent the big cash holding during the gold price downturn instead of conserving the company for better times, and was issued with lots of options along the way. I felt better about my poor speculative decisions watching him suck in fundies one of whom kept averaging down over an extended period as the share price tanked.

One of Parsons' promotional features of GRY was that drilling had been relatively limited to nearer surface across its tenements compared with drilling by other successful gold companies - implying lots more gold to be found as deeper drilling progressed. GRY did have a reasonable sized JORC reserve/resource but the NPV of its DFS was unattractive, especially in the light of the number of shares on issue.

As a non-geologist I am attracted to the grades mentioned in BGL's press release. BGL could turn out to be the best thing since sliced bread was invented, but I will only buy on a major pullback if I feel secure about the size of the reserve. It takes a lot of money to prove up a substantial reserve.

loki