Ann: Quarterly Activities Report, page-7

hi tangs

" there is potential for some investors to expect it all to happen straight away and for some the maiden resource might disappoint ."


hmmm - I would think that anyone serious about having gold explorer investments -- 'serious' meaning - that they have a reasonable sized position --- enough to harm the market if they sold -- wouldn't be the types that expect it to all happen straight away -

that's gold investment Grade 1 stuff.

Tom has talked many times about this being a Tier 1 deposit -- so - plus 5 million ounce.

However, I have not heard one investor think about the maiden JORC being anywhere near that - all I talk to are hoping for over 1 million - (but, that's only hoping - it could be less)

everyone and anyone with any experience knows that an initial JORC is not the end of the game - unless you have a tiny project (gold find) --

and, Goofy and Mr Mcgoo can see that this is not a tiny find - crikey - the first bit is over 2km long - and he is now talking about a hole in the ground over 2km long --- that's half the length of the Superpit ---

I honestly don't think we are getting our heads around just how big this 'probably' is yet - but, if it does become a 2 plus kilometre hole in the ground ----- can one imagine how much gold and how much profit may come out of a hole that size???????

So - would there be many investors with enough of a holding to knock us back if we come up with what seasoned investors would expect?? - I doubt it.

I am not saying that the JORC may or may not disappoint -- but, I just think that no one who has their medication halfway right - would be expecting anywhere near Tier 1 or similar.

I have no idea what it's going to be - but, I would be extremely happy with 1.5 million and very happy over 1 million. If under - well, it depends 'how under' - I would certainly like to see over half a million - that's sure - but, the above are only figures I have in my head - with bugger all reason to back them up - they are just feel good numbers.

My guess is that no matter what the numbers are - I have reckoned for a long time now that when we begin to dig and process this - it's going to give us more than we think - because of how the gold is laying out - we shall see --- 'if' we get that far.

I don't think that Tom puts things over the top often or at all, - so, from what I see - the way he is talking - he must really be thinking that we will have some good grades, easy digging and high margins on an early production plant - otherwise - you just couldn't even think about funding the stuff he is talking about it funding.

And, should it come to pass that we do begin - and the cash flow is as great as we hope - then, really - it has to go on for years - because, I don't care if every miner was a blend of Arnie, Chuck Norris and Jean-Claude Van Damme - you can't dig a hole 2 kilometres long and half a kilometre wide in a hurry - I don't care how big a shovel you have.

Imagine how much dirt is in a hole like that?

Then - we are just finding more gold outside that ------- North, South and now - East -

what's the matter with West -- it's letting the team down

Wow -- and, we have the understatement that drilling is going to go way beyond March -

way beyond?????????? - way bloody beyond alright - do we need reminding that they are still digging up the Superpit - and, it's been about 120 years of digging there -

120 years - and, they are still finding new gold??? - that's difficult to get one's head around.

Here we are at Breaker - 2 years 'two' - down the track and we are taking about a hole in the ground half the length of the superpit

one almost has to pinch oneself to see if it's a dream -- can that really be possible?

Is Tom going over the top with this 2 km hole thingy?

He said this would be big - it is - hasn't missed a beat yet - he said it would go deep - ditto - here we are with deep drills showing good numbers.

I honestly don't know what will happen with the maiden JORC - it's going to be a very interesting Feb and March, that's for sure