ann coming ?, page-80

PP,
Charlie123 is correct to suggest JORC rules will require some of the super-hot Cu hits to be 'cooled' a little. I'm not sure about being eliminated altogether (although that's a common practise when RoM sampling to arrive at a truer picture of grade). There is sometimes a system of weighted averages employed to determine the relevance to the whole of a hot assay result. The method employed will be determined by the hole spacing which will also go some way to determining whether JORC resources are indicated/inferred/implied (subtle differences there). Also the type of deposit is factored in too but that isn't really my area of expertise to comment on. I'll ask a good pal (Exploration manager of a gold outfit) over the weekend how it's done and report back.

Trial Mining

PP, from the Ann, the purpose of the Trial Mining licence application isn't to acquire a bulk sample for the purpose of assessing grades: it's to start mining (albeit on a limited scale)! Bulk sampling for grade assessment is usually done where the nugget effect is so great (eg alluvial gold or, more usually, diamonds) that you can't assess the grade of a deposit until you've mined and processed the lot! A 5000 tonne parcel would deliver precious little extra grade info about the rest of the orebody that even a few shallow drill holes wouldn't achieve at a trillionth of the cost. I would suspect they are going to dig up a parcel (to a limit specified in the TML) of oxide ore with a view to testing it's amenability to heap leaching. If so, this represents a big step towards production: more importantly though it reinforces the management's credentials and intent to bring this mine into production rather than just remain a speculative exploration play. The further down this road they go the harder it is to turn back. Also, once in 'production' it will make future capital raisings so much more easy. Someone posted earlier that this could be something of a red herring but I'm not so sure.. it certainly ups the ante in respect of Take-Over talk too..

Am I holding shares? I have been in and out of this stock for the last 12 months and my fingers are mostly burnt! Currently I'm out though my caution is more towards Europe than what's happening on the ground in Brazil.

Hope this helps...