north

North is the direction I see the stock price with further drilling of Antas North. With the grades in the sulphide ore averaging 1.89 %CU it is a nice high grade number.

Half the drilling that has been put into Antas South has been done on Antas North and the North has delivered nearly 60% of the Copper resource.

That means 60% of the Copper Resource has come from 33% of the drilling. If you are a shareholder in a mining exploration company and you want bang for your buck where would you like the fine gentleman at AVB to continue to drill.

That's why we will see more value added to this stock in 2012 than we did in 2008, 2009, 2010 and 2011. That's all with Aqua Boa and Serra Verde on the sidelines.

The information in the picture was compiled by a bloke in Canada in Corebox. He put this together with information I provided him after trawling through every drilling announcement I could find. There may be omitions. It may be an incomplete data set. Best I could do. Hope you like it.

The previous statement by Tony about incremental updates in the JORC make a lot of sense to me now. We should see bigger increments with less drilling if the grade and continuity of the orebody at Antas North continues.