Ann: Resource Rising Stars Conference Presentation, page-23

Hi goldtowin,

I believe you're correct in your reference to the cut off grade - I think what Peter was referring to in the presentation is having 1 Moz coming from 21.07 Mt at an average grade of 1.5 g/t or higher (last 3 columns). If we make a direct comparison to De Grey, they were using an average grade of about 1.2 g/t.

We might need to wait and see to find out more about the reference to the 70.17 Mt at an average grade of 0.84 g/t for 1.8 Moz. Peter's saying we'll hear more about this later on. Sounds like they're doing some homework at present.

The reference to this in the presentation starts at 7.00 minutes.



Here's the presentation again to save you hunting around for it (from 7 minutes):



Hope this helps.

My reckoning (on the low side) still has us at 1.6 Moz x $50/oz / 1.9 M shares = 4 cents per share. That share price will come sooner or later.

All just my opinions only.

GLTAH