Ann: Korbel Gold Project Starter Pit Scoping Study, page-379

No worries@Harg the main thing that management has done wrong consistently is the way they communicate about announcements/changes. Whether the CR, the delays, the SS announcement and other things. They are not the best in their communication and seem to lack a solid comms strategy and comms people. I don't feel it is unwillingness or being dodgy, but just too focused on the technical details and bigger picture and too little on playing the psychology of the market and holders.

These guys are in it for the long haul and that is what they have been saying all along. Up to you whether you believe that.

My reasons to stay despite the mediocre communication:

- management is big holder and have continuously bought right from the start till now
- their resource strategy is still on track;
- there is minable gold and a starter pit is viable (even without resource deepening and resource increase and RPM addition)
- higher grade areas in Korbel still to come online
- potential bonanza field in RPM still to be expanded
- more Korbel resource to Indicated soon
- LITM puts a floor under the SP in my opinion

Each to their own. I can't see POG going down soon and RPM will come on line, so I reckon we should be good for the two variables that will determine NPV:

- Gold Price
- Higher grades

Each to their own. I am comfy holding for the future.

DYOR