Ann: Update on the Gold Sludge held at the Chatree Gold Mine, page-23

What isn't surprising here is the release of the sludge itself, its the speed at which this is all taking place in the context of what is happening with the arbitration itself and the government's precarious situation locally. This is a very positive development and one can view it as a big sign of good faith from Thailand (or admission of guilt if I am playing devil's advocate / the tribunal's view).

If Thailand was prepared to go down the gauntlet and let an award be handed down, with a view to not paying that award, then they would not have taken this step. It is a big milestone in our journey.

Do not forget that after last quarter's results, many investors here were worried about cash burn and liquidity runway. Putting aside, this gives the company a lot of breathing room on a plan for Nueva Esperanza and could end up creating a significant amount of value with respect to our options there.

Kudos to Ross & Jamie - we have a great team sailing this ship.