Yes, as has been discussed previously, if most of resource is...

Yes, as has been discussed previously, if most of resource is converted to reserves then mine life at 100,000 oz pa could be 9 years, but who knows what lies deeper. So if the earnings can keep up- we've had two good months- then company is clearly undervalued.

In the recent resource announcement I noticed something that I missed previously. Most of the increases were in the M2 shoot and partly this was due to recent drills and partly due to extending the reserve down a bit. However, recent new drills for the M1 shoot, with good high grades, were not used in the new resource and reserve. The announcement adds that: "There is potential to upgrade the resources and reserves within the M1 shoot if there are more positive results". So there's a reasonable possibility of some of the M1 shoot (where most of the 'loss' occurred) reserve being reinstated.