Samscout, from memory, I'm pretty sure they were aiming to start...

Samscout, from memory, I'm pretty sure they were aiming to start putting together the maiden JORC at Mayoko in June, which means it will be sometime after that. I think the company has gone a little cautious on this because they only say 'second half of 2012' for the JORC to be released, they don't specify a particular month. I can't remember exactly when they said the next round of drilling results re Mayoko would be released though.

In between now and that JORC being released we are due some more metallurgical results re the bDSO and DSO, and an announcement on the beginning of drilling at Badondo as well. There is also the rock chip samples do be analysed from the new prospecting permits we picked up, so there is plenty to look forward to.

It'd be nice if the Europeans got their houses in order because I think that's what's weighing on us at the moment. With the Europeans in trouble it means the Chinese are exporting less to that area of the World and so Chinese growth slows a little as well. I guess one of the next major Euro dates coming up is the next election in Greece which is mid-June. If the Greeks fail to install a Government that will stick to what has been agreed upon, we will probably see more uncertainty and market jitters.

I like to keep in mind that EQX really should be a low cost producer given where we are situated, meaning even if/when the IO price comes off from those $130's-$150's due to possible falling demand from China, more supply coming online etc, the company should still be very profitable. Once the JORC for Mayoko is released the company will be able to start releasing some information on what our CAPEX/OPEX might look like, and I think that will confirm the quality company we are sitting on here. I assume that they have brought in CDIS to speed up the back-end process of getting the feasibility stuidies in order and liase with the Congolese rail & port authorities, so I'd be expecting prety quick progress after the JORC announcement.