Ann: Inside Briefing Interview with Mark Papendie, page-8

re: Ann: Inside Briefing Interview with Mark ... Innocentcarbon, I was looking at Cleveland mining setup, I think our setup would be similar to what they have. They are looking to get there cash cost down to around $400 an Oz with grades below 2 g/t, I know they are using open pit and we will be using a decline, not sure if there will be much difference in actual mining cost as there will be very little waste produced with the decline as compared to open pit. Given our head grade will be at least twice that then our cost will be at least half..... Time will tell of course but 500 to 600 an Oz is extremely high I would think..

If we use a similar plant then we can expect through put of at least 40 tph then 300,000 tpa at 5 gt giving us 46000 Oz so would think this is the what they are looking at with the 40 to 50k oz they are talking about. If the grade is 8 gt then that goes up to 75k oz and margin of $800 an oz then that jumps to $60 Million, so over 50 cents a share. I know that is probably be a bit optimistic but by no means unrealistic. Time will tell but looking very very good.....