Ann: Hera Project Update, Expansion Study and Financial Update, page-14

Even more disturbing on top of all the management, mining, and processing problems is the downgrade in Resource.

From the Resource Statement just released on 21/4/15 until today's new Resource Statement the contained metals have dropped significantly as follows:

From 390k oz Au down to 280k Au
From 3.46m oz Ag down to 2.998m oz Ag
From 113k t Pb down to 91k t Pb
From 148k Zn down to 119k Zn

What else have they stuffed up? What is the new life of mine based on these significant downgrades? Maybe it is academic anyway as I can't see how they are going to survive under current management and likely current entity.

Where is Maurice and Blackburn? Directors' duties and all that jazz! No wonder that GC rep was quick to throw the towel in and do the runner.

I've seen some horrible announcements over the years, but this one is close to the top.

Cheers