Ann: December 2011 Quarterly Activities Report , page-3

re: Ann: December 2011 Quarterly Activities R... The remaining two holes for Hollandaire were lower grade but that should not be a big surprise especially to the big holders because the supergene zone was always going to give the best grades.
We still have the other conductors to hopefully add more higher grade copper (through other potential supergene zones) and we are still open at Hollandaire.

In any case as I have always said, for me this is a gold stock and the results there were better than expected with ounces above guidance and better still cash costs took a 29% dive thanks to higher grades and higher production.
The higher grades at Haoma should help keep the costs down and further increases in production will provide further downward pressure on costs.