my responce from cc, page-9

"This higher grade material will be blended with the medium-grade stockpile to provide an average grade of circa 2.5 to 3 g/t for the remainder of Phase 1 production."

... which from the 1 Mt plant and 94% recovery implies annual production of 75k to 91k ounces until the current reserves are depleted.

Then to maintain production levels from 2014/15 current projections are that most ore will be sourced from the Majestic open pit, Maxwells underground, Cock-eyed Bob underground and Santa underground.

We know at this stage that Majestic has an inferred resource of 260,000 oz but lower 2.1 g/t than the above. But the longevity of the company, in my mind at least, is the following statement by CC regarding the UG potential.

"Then there is the underground production which we will trial mine later this year. This has the potential to add circa 500kt per year of ~5g/t mill feed."

The results of the trial mining are what I need to see... the ball-park development costs for the underground sources and how profitable mining 5 g/t ore will be, which can be rather marginal. I need to see UG resource statements too.

Rowingboat