Ann: Triumph Project - Gold System Continues to Expand, page-11

Hi All,

The old saying of 'Rome wasn't built in a day' is very applicable here. YES there is huge potential for MBK and to date I think the story is slowly gaining traction. However, we need to be very careful not to build too much expectation into the development story too quickly.

If you want to see an example of where too much expectation was built into a stock, take a look at BRB. I'm a big believer in BRB and their Lake Roe gold project and the results to date have been very good. BRB share price took off and reached 70c but the expectation from investors that the initial JORC resource would be in the order of 1M ounces which meant there was way too much expectation at that early stage. Their initial resource released was 624,000 oz which is nothing to be sneezed at and is only limited by amount of resource drilling to date. It will continue to grow and they have continued to release good results since then. However, the share price took a significant dive when the initial resource was released and is currently sitting at around 25-27c. This is exceptional buying at present and this is proven through BRB management purchasing significant quantities of shares through on-market purchases. BRB has and continues to develop a significant gold project but unfortunately the good news meant investors built too much expectation into the share price too soon.

Anyway, my point is that there is a process and a resource takes time to drill out and determine and we need to keep this mind and not expect too much too soon. I think this will be very important for MBK also.