Steady there cefa ! I'm a big HAV fan as well, and have been...

Steady there cefa ! I'm a big HAV fan as well, and have been holding since mid 2002, but I think some of your estimates are a little off the mark.

I'd be very surprised if Kalkaroo was upgraded to a 200mt resource at this stage. Further down the track though this is entirely possible. Perhaps even higher, given the current encouraging results from West Kalkaroo...

Also, your figure of 55 grams per metre for Portia is pretty unusual, as gold grades are normally quoted in grams per tonne. Perhaps you meant per cubic metre ? Thus far, only the best washed samples at Portia have returned the spectacular average grades of 55 g/t or more. The overall average would have to be lower (in g/t), although admittedly still excellent. However, your figure of 3 million tonnes for Portia is probably understating the actual resource potential, which could be closer to 7 or 8 million tonnes (based on HAV's previously published reports). Their latest quarterly stated that the bedrock gold at Portia "could extend to significant depths along the prospective contact below the weathered zone to which current drilling is confined"...

Go HAV !! Cheers, W.