re: Ann: Technical and Corporate Presentation... We should keep...

re: Ann: Technical and Corporate Presentation... We should keep in mind that Darren said that the 50koz at GH was what the analyst’s had calculated and not any official estimate.
I.e. the jorc estimate might not be 50koz.
I used what was provided officially in today’s quarterly to compare to my own earlier estimate and to the 50koz.
We were provided with a figure today of 230gram metres as the average intersection at a >1g/t cut-off.
Looking at previously released drill results, cross sections, surface sampling strike, etc, I calculated the following;
70ms long by 50ms deep by 2.65 SG by 230grmtrs by around 0.75 for true width and divided by 31 for oz’s would give me an estimate of around 51,000oz.
This would vary depending on how deep the resource is estimated to, strike length used etc, but down to 50ms is where most of the data extends so should be close on the initial number for GH.
Based on this the 50koz estimate by analysts looks about right.
It wouldn’t take much extra depth to get to 60koz.
As I mentioned earlier, at very high grades, good widths and starting from surface, mining and processing costs should be very low.
At 50-60koz’s and $1600 gold, if assume $1100 margin after allowing for royalties, cash margin from GH to 50-60ms should be around $55-66mill.
Very impressive over a 3 month period.