upgrade, page-41

"And I feel the upgrade is being delayed UNTIL October becasue previous announcements stated Septemeber"

Hmmmmm well yes Victorious I can confirm that I have found ONE reference to the possibility of the upgrade being expected in September.

If you go to the One2One Investor Presentation of July 22 there on page 12 you will find the comment : ..."Resource upgrade expected in September"

Now the vital word is "expected". Now a lot of things can interfer with something that is "expected". And the "expected" can be disrupted by the "unexpected" or by delays that crop up.

If you look at what was taking place soon after that there were comments about the surface sampling work to this effect.....
From the 14 August announcement : "....The surface sampling programme continues to surprise and shows that
there is still huge potential for more resource at Amayapampa once the orebody is better understood.”

Then a month later - 18 September :
The Directors of Republic Gold Limited (“Republic” or the “Company”) today announce that the Company
has made advances with technical feasibility study work on the Amayapampa Project (“Project”) aimed at
completion of the Bankable Feasibility Study, with the near-completion of the surface sampling programme
that has been ongoing since the start of the year and resurveying of the topography. The conclusion of
both will allow the resource upgrade to be completed."

And in that same announcement was the direct quote from John Kelly that I noted in a previous post :
"The promised resource estimate upgrade is running behind schedule, but with the continued
receipt of high grade trench samples, this sampling programme needs to be completed first. The resource
upgrade just can’t be completed until the surface topography is correct.”

So the "unexpected" had been happening. (a) They had been getting some results from material they had not been expecting and (b) They had discovered that some of the survey details they had been relying on as accurate had been shown as not quite right and needed improvement.

Then we come to the Excellence in Mining Presentation of 22nd September that talks about ....�� Resource upgrade expected in October.

If you compare that page 12 with page 12 in the July Presentation you will see that they are identical apart from the change from September to October.

So probably around mid September the "expectation" was that the upgrade would be available in October. But you also have to accept that that "expectation" is also in the context of a situation that was not solid and stable. There were surprises with sample results and waiting on other authorities to deliver the data they needed to pinpoint details more accuately.

In other words there were certain elements that could still produce the "unexpected" and cause a bit of slippage. Things not exactly in RAU's control. Reliance on other agencies and other people.

Certainly John Kelly's comments on September 18th indicate that things were running behind schedule.

It would be great if the world was so perfect that what you "expected" happened exactly as you "expected".

Let's see what is said in the Quarterly. I'm not getting my knickers in a twist about it.