Hartleys site visit, page-13

The key to the reason is in the title DEFINITIVE Feasibility Study. A feasibility cannot be definitive if they haven't defined the resource, it's a big problem we have.... the team keeps drilling, and they keep finding MORE GOLD.

38c will be a long way in the rear view mirror for those in a financial and emotional position to wait.

As an exercise in what this all means, you need only refer to the last DFS, WAF mg't promised an Open Pit DFS, and depsite the shape and very positive geology pointing toward effective UG mining, they went ahead with the OP DFS regardless, at a strip ration of 35:1. Even with that abhorrent ratio they came up with a NPV of $139mill pre-tax. Many looked just at the numbers and not the circumstances, and we went from 0.32 to 0.22.

Sprott et al, looked at teh project, and new drilling results...ignored the OP DFS and climbed on board.

Under these circumstances, delaying the DFS is a positive sign, not a problematic sign.