re: Ann: Quarterly Activities Report and Cash... Hi...

re: Ann: Quarterly Activities Report and Cash... Hi Reichman,

while I'll reply to your post, pls don't get the impression that I'm defending anyone becuase some of what you say makes perfect sense & I've been screaming about for ages!!

1. QRTRLY Report shows POST 31st of March & also post:

- I have actually noticed that "bahaviour" from AAR in probably all qrtrlies released for last 1.5 - 2.0 years & that they do tend to include in the qrtrly info related to the month AFTER the qrtrly period!!

- That could be becuase some info that are released in April may make the "spendings" on last quarter worthwhile! so in other words, this could be a try to "SWEATEN" the spendings by showing that "look, we spend money but got results" type of thing!!

2. your question is asking to how much do the new tenemants/drilling add to current resource?

Extensions/defenitions of resources must come from an independant contractor that gives JORC or equivalent measure based on test drill holes results.

That contractor is NOT cheap & they take thier time, therefore for any estimate or measure of resrouce to take place, there must be a "complete" area with full boundaries of presence of gold available.

At this stage the qrtrly tells us that even ROGAN JOSH has extra 50m that was just found, therefore, we haven't defined the boundaries of ROGAN JOSH as yet!!, which will mean that even we stop here & ask a contractor to give an estimate of amount of gold in Rogan Josh or continue to drill to see if that extra 50m could lead us to finding another 50m!! that's the directors' call!!!!

To answer your question: the upgrade of resource must come from a new evaluation of resource thru the independant contractor & that process doesn't happen every time a new hole is drilled or a new result come back from lab. that process only happens when a cerain area has defined boundaries & is up to mining!

3. Short term funding:

I'm worried about it as well but not to the extent that I would lose sleep over it!

Rogan Josh is ready & my feeling is that it's delayed for a reason but again I don't think it's too long.

my good guess is that cash from Feysville will come into our bank account in the last quarter (KEEP THAT SENTENCE IN YOUR REFERENCE BOOK RM - I'LL REFER BACK TO IT IN FUTURE) LOL

4. Issuing shares at these low prices:

Angus is the largest single shareholder, he would be shooting himself in the foot if that happens & I do believe no logical businessman would dare to do anything like that!!

I would be extremely surprised & annoyed if anyone would suggest a fund raiser anytime before Feysville starts!!

5. Money to start feysville:

I wouldn't think we need any cash (in a mentionable amounts) at all!! we need earthmovers to come & put the mud on trucks & send to a third party processing plant & get cash for it immediately!!

I'm optomistic by nature RM & the moment that I turn pesimistic I'll be selling my shares & moving on!!

Feysville & KP are winners & if ever personally I would feel that there's any fundemental increase in Risk then I would sell immediatly & move on!!

when I sell, I'll let you & everyone know that I sold & will tell you why I sold as well!!

so far, I think we are on track & I'm optomistic because the goods weighs more than the bads!!

there are bads & I don't deny them but I think (IMO) the goods are much more than the bads!!

cheers,