Gravscan,Have to be honest that I'm out of Carrick at the...

Gravscan,

Have to be honest that I'm out of Carrick at the moment. They keep on finding good grades along strike but nothing of good thickness or a parallel structure. The issue is they have a steep dipping, good grade (not excellent grade) deposit. If it was flatter or had similar mineralised parallel structures then the stripping ratio would be lower. Same issue as two years ago. Want to see an economic pit shell with grades and stripping ratios. Maybe the New Discovery at Lindsays will tip the balance.

It's a pity they're not closer to SLR's Lakewood facility. I'd recommend an all scrip offer from SLR - SLR then utilises the capital to upgrade lakewood and truck the ore in. Plus SLR have the skills to efficiently mine narrow vein underground. At 3g/t and 98% recovery you'll get US$100 revenue per tonne or US$270 per BCM. The other trouble with this is that SLR have got plenty of alternative places to get ounces from.

What we need is someone with a mill and short of tonnes to put through it.

Note: I haven't been through all the announcements so might have missed something. Happy to have a more knowledgeable gold bug put me straight.

Stu