Hi ExcelsiorI note your recent post, which estimates future...

Hi Excelsior

I note your recent post, which estimates future annual gold production at 65000 oz, producing net cash flow of something like $25m/annum. This is very different to the scoping study details announced in April, however, I sense that the scoping study was very conservative. It used a 5g/t cut-off, assumed mining of only 250000t/annum (plant capacity 300000t/annum), gold at $780A and copper at $6600A/t, and cash costs of $450/oz, after copper credits. The scoping study concluded annual production of just 55000 Au Eq. am I right in assuming that scoping studies of this kind, would err very much to the conservative?? Can we expect the BFS to be similarly conservative???