gold,gold,glorious gold

The following gold production figures are strictly taken from the quarterly and annual JRV announcements

From the first quarter of 2003/4 until the final quarter of 2008/9 inclusive,9787ozs.of gold was recovered at a cost of $15,791,898.00 ($1613.56 oz.)

The gold was sold for $7,546,715 ($771.10 oz)

*******During one infamous period concerning the last two quarters of 2005/6, 97 ozs. of gold was recovered at a cost of $1,057,758.00 ($10,904.72 oz.)(there was no increase in yield in the following quarter ???)*******

ON 25 JUNE 2002, PURCELL ANNOUNCED THAT GOLD WOULD BE RECOVERED FOR $286.00 PER OZ..THIS IS CONSIDERED A REALISTIC FIGURE FOR HEAP LEACHING)

If you DOUBLED the estimated cost of production to $572.00 per oz., (and allowed the virtual non return for two quarters at full outlay shown above),the expenditure of $15,791,898.00 would have produced 27,608 ozs. As the shown sale price received over the entire period perused was $771.10 the 27,608 ozs would have roughly returned $21,288,528.00, A PROFIT of $5,496,630.00, NOT A LOSS of $8,245,183.00

REMEMBER,THIS IS DOUBLING THE JRV STATED AND ACCEPTED COSTING FOR HEAP LEACHING, IF IT WAS DONE FOR SAY $350 OZ.THE PROFIT WOULD HAVE BEEN $18,999,362.00

It is not drawing a long bow to say the figures declared by JRV are clearly difficult to believe

What eventuated when things were starting to be heard, with the rushed fire sale of JRV's gold assets to another junior, junior miner (to be generous) who immeadiately onsold to an overseas third party is curious at best, and may well give grounds for further investigation by the Authorities to clear the concerns of JRV shareholders