Ann: Robust Phase 2 Scoping Study for the Estelle Gold Project, page-97

What actually happens is there are gold buyers out there that buy gold in the ground which is called hedging so 5% discount is a fair earning for investors that believe that gold will go up. You can sell gold in the ground at today’s prices and deliver it tomorrow if you have the means to mine it. Investors pay the money up front and the mine is constructed with the money and the agreed amount of gold is given to the investors. There are big players in the gold only section. Macquarie Bank do I hat in Australia. So NVA has no choice but to commit a lot of their drilling to prove that what they say is under the ground is really under the ground. The more that they prove the more probable the loan to start up.
Its looking excellent as of today but could be fantastic further down the road depending on how much more they find that is not in the probable category at the moment.