Ann: More Wide Gold Intercepts at Mandilla East, page-3

Gold road have always been like that. I prefer it, to be honest. We all want a spike in share price, but I think this is a more sustainable approach. I sense the company is trying to set low expectations for the MRE. They keep telling us how the MRE won't include a lot of drill results, due to lab delays. So, the MRE to start with, I'm expecting will be soft, but they will add to it as the new results come in.

Table 2 is what we need to focus on in this announcement. Noting that this is south of the existing deposit (so a bonus), I like the length, but a lot of it is dirt. What I mean is if you look at hole MDRC334, you have 66m at 1.77 g/t (I like). However, dig into the detail and you find that within this 66m, you have 1m at 63.01 g/t (grade is excellent, but only 1m of it). This skews the result for the other 65m, and makes me think that there is a lot of mining and processing of dirt and very low grade gold, before they extract and process 1m at bonanza grade.

I'm interested to learn from others what this could mean for project economics (noting, of course, this is south of the main deposit, keen to learn of project economics for the main deposit itself, too).