Yes, as an explorationist, I believe there is potential for...

Yes, as an explorationist, I believe there is potential for >5Moz Au in the project, possibly a lot more

How much of that becomes an economic resource or reserve is another matter - depends on how well constructed a continued exploration and resource strategy is, the grade of any further mineralisation, the continuity of the high grade reefs, and the presumption (based on data) that other mineralised centres within the project have the capacity to yield significant mineralisation

To me, a target >10Moz is a long term tenure wide target based on the known mineralisation styles, etc.

Unfortunately the terms Exploration Potential often get confused with Exploration Target. I've never publically stated an 'Exploration Target', only what I believe to be the potential

When I do this, it's not to convince others of how great a project is, it is to establish within my own psyche and that of the company that the potential scale of the project is large enough to start drilling deep holes.

I am and always have been happy to make bold statements about what I think the exploration potential of a project is - and I do this on the condition that I am also the first to discredit my own view on the matter.

Is there potential (based on geology, mineralisation styles, etc) for >50Moz of gold endowment? Yes. How much of that is economic? Don't know until it all gets drilled. Maybe none. Don't know until it all gets drilled.

Its easy for you to say the potential/target is not there - intrinsically, the chance are always extremely low that there will be, so arguing against the stated potential is no difficult feat and may eventually be proven correct. It is an easy stance to take, and something that most people do.

The problem with the industry at the moment is a major gap in the understanding of mineral systems and the risks in delineating them by the explorer, versus the majority of investors and speculators. The JORC compliance sets out to eliminate the disparity, but it also inhibits a company being able to broadcast what they intuitively feel about a project. You get shot to flames and racked over the coals for doing this, all so that you don't purposefully go out and try to manipulate mindsets and convince speculators who don't have a full technical understanding that something may exist when it doesn't. News for you - without the ability to generate concepts and determine potential, and discuss that openly with potential investors, there is no full disclosure without having a conduit to discuss these thoughts without being thought of as a spin doctor.


In terms of comparing deposit styles and concepts to other regional systems, etc - I'm not really one to compare what 'we have' with what others have. I don't really operate that way and generally stay focussed on building and refining conceptual and resource models based on the latest information at hand.

If I state how great a project is, it's generally because I'm passionate about it and believe in it. Not because I care whether any one else is.

As to why I'm not currently involved in the project - I like to keep my brain active and skills sharp or they start to decay, so I've moved on to other exciting things.

Cheers