watso has previously speculated, that when the company has a...

watso has previously speculated, that when the company has a closer look at selheim , that there could be a downgrade. previously, there was a largish downgrade of the jacks patch resource. watso refers shareholders to a report issued by mxr, on march 31, 2009. on that date, the company indicated that there was 452,000 bcm, at a grade of .86g/bcm. the present quarterly mentions the possibility of 120,000 bcm per annum, producing 2200 oz of gold, which would indicated a grade of .55gm/bcm (that is a bit different to .86g/bcm)

the downgrade in the jacks patch resource, in the above mentioned report, was based on actual results of the previous mining at jacks patch. perhaps the company had a closer look at the other two areas, and lowered expectations. shareholders would have been better informed, if the company had provided more information

even if the company does proceed, and they make $1m per annum - it will be several years, before they recoup the money that has been spent on the prospect.

anyway, keep a close eye on ero production, and and cash flow - big deal in a way - because $1m per annum, does not pay much more than office admin costs - all that it does, is to make future capital raising's, slightly less frequent