Prior to the September 08 JORC upgrade, the resource at Juno was...

Prior to the September 08 JORC upgrade, the resource at Juno was 952,000 tonnes @ 10.5 g/t for an indicated resource of 321,415 ounces.

The upgrade at Juno in September 08 in the indicated category went to 1.1 million tonnes @ 18.68 g/t for 661,488 ounces, based on remodelling the Normandy database and supposedly correcting inconsistencies. Historic drillcores were sourced and checked to confirm the data work at the time.

Due to the Juno verification work we now know that there were errors in this remodelling, in particular "stope models, spatial orientation and various typographical and transformation errors". A major blunder back in 2008 to release those updated figures without better verification other than checking some historic drillcores.

If the indicated resource at Juno was increased by 340,073 ounces by this process, we can perhaps hope that maybe half of that increase is still valid, ie maybe we lose only 170,000 ounces. I have no reason to base this guess, just seems a reasonable figure to hope for. As bitzer points out, the updip additions along with other extensions to Juno (most likely in the inferred category) will hopefully offset the downgrade.

We can at least be thankful that the new team led by TL actively undertook the recent verification drilling and study at Juno, even though it has left a new reason to undermine confidence of EXM. It will take a lot of work now to restore that confidence.