gold price very high in aud, page-22

MM

check out the jorc resource announcement on 30 july, 2008. especially check on the Grade Factor stuff. 910,000 ounces @ 11.2g/t Au........plus grade factor.

on page 11 there is table 3. it shows the grade factor for different reefs. as an example :

example 1. Campbells reef (level 7 central): average drillcore assay grade = 2.38g/t. yet the grade factor is 900% = historic production grade of 22g/t - 67g/t.

now go to page 13 : tonnage mined between 1934 - 9 : 18057t
tonnage remaining intact 63822t

in-other-words, there remains 3 & a half times more ore to process compared to how much was extracted 60 years ago.

example 2. Whitelaws reef (7 sub-level - northern aspect of dyke) : average drillcore assay grade = 1.97g/t. the grade factor when mined between 1934 - 39 = 1100%, or production grade of 22g/t - 67g/t.

historically 176868 tonnes were mined. yet 149483t remains with the reef open in all directions - the eastern contact is where the highest grades are being discovered in the 2008 drilling campaign.

actually, the Grade Factor for Burns reef is even higher at 1200%.

so while MCO has a jorc resource of 910,000 ounces at 11.2g/t Au (non-grade factor), you can see that when in production the true grade is revealed to be anywhere up to 1200% higher.

i suppose that is why we are pretty keen to see the Maxwell production grade, just to see what multiplying effect of a grade factor we have above the co's published note of maxwells project likely to be exceeding12g/t Au.