Ann: Outstanding Infill Drilling Results Continue, page-14

I don’t think we should expect too many more ounces in the next MRE. They are clearly focused on upgrading what they’ve got for development studies and permitting. Having said that, it looks like the pit shell can be expanded in a couple of areas and the underground component will grow a bit, but UG will probably just slip into inferred until there’s many more deep holes put down there. Just turning 4.2m into indicated will be huge and if they can add 300k inferred UG, that would be impressive, even though we’ve been planning on 5k per vm. Ultimately though, this will be 5-6m ounces and an outstanding deposit. Then, tremendous upside from any exploration success.