Ann: Rothsay DFS Confirms Low Capex High Margin Operation, page-29

Yes there was a bit of a dummy spit today by some holders (although more than half the selling came from one person). I am not sure what anyone was expecting from the DFS as it is near identical to the PFS in NPV when using the same discount rate and gold price. EGA will have no problem funding the mine and we are now less than 12 months from the first pour.

I think that many miss that the DFS is the minimum case needed to build the mine, not the value of the project. EGA could have spent the next two years and $25 million diamond drilling to convert all the inferred resource into reserves and then put out a DFS with a 12 year mine life, but this would have been totally stupid. You want to spend the minimum you need to get the mine funded and then drill out underground to support the mine plan as needed. If you want to work out the value of Rothsay you need to look beyond the DFS and try to estimate how much gold it will produce at what price. When you do this the current SP looks very cheap.