Ann: Exploration Update, page-54

What I’m saying is they need more clarity in their announcements. Investors shouldn’t need to trawl back through old announcements to figure out how samples and grades have been arrived at. They publish a “total gold grade” from their smelt and resmelting of the slag but give pretty sparse details in their announcements IMO. ie how much silver is used and how much is lost, etc etc etc.

You are doing a lot of guessing yourself and your guess work is based on a lot of positive biases that lead you to believe what you want to believe.

The JORC code requires that a resource has “reasonable prospects for eventual economic extraction”, see page 11 (section 20) of the code below.

http://www.jorc.org/docs/jorc_code2012.pdf

How did I put it?

“A resource however loosely you want to calculate it implies an expectation that it can be economically exploited based on certain gold price assumptions.”

Not far off the JORC wording.

Esh

and PS

You haven’t got anything right on Da Vinci, it’s a narrow, steeply dipping, patchy and small (and largely closed off) gold deposit that hasn’t yet proven it will make that company any significant income. It is not note worthy in any way.Esh