resources growing quickly

From their November Announcement:

MOTO GOLDMINES ANNOUNCES SIGNIFICANT INCREASE IN GOLD
RESOURCE ESTIMATE
Moto Goldmines Limited is pleased to report that an updated independent resource estimate, completed by
Cube Consulting Pty Ltd, has resulted in a significant increase in resources on the Company’s Moto gold
project in the north east of the Democratic Republic of Congo.

Estimated resources at the Moto gold project
are now:
• Indicated resources - 34.33 million tonnes at 2.5 g/t Au for 2.809 million ounces of gold; and
• Inferred resources - 92.87 million tonnes at 2.7 g/t Au for 8.158 million ounces of gold.

Highlights of the resource estimate include:
• Significant increase of 300% in indicated resources to 34.33 million tonnes at 2.5 g/t Au for
2.809 million ounces of gold.
• Significant conversion (>95%) of resources from inferred to indicated category at Pakaka and
Mengu Hill reflecting the excellent continuity of mineralized zones.


A further resource upgrade is planned for January 2006 based upon analysis of recent infill drilling results
from Gorumbwa and Karagba. These programmes were designed to upgrade the existing resources from
inferred to the indicated category".

+++++++++++++++++++++++++++++

From my post on the NZ Chatsite:
15 Nov 2004: Haywood predicted 10 mill ounces within the next 6 months; he did'nt say that this would be indicated rerserves.

Haywood's Report:

http://www.goldinvest.de/public/count_document.asp?y=5016&doc=901320051110113605.pdf

"Projected annual production: 489k ounces of which MOE would get 308k ounces".

Comment: That is about 63% and it means that for
MOE to get 10 mill ounces of gold, they need to produce 15.88 mill ounces.

They are proving up more gold so quickly:
Indicated and inferred Gold resources in millions of ounces:

6 May 2005: 6.1 mill ounces
9 Aug: 8.3 mill
14 Nov: 11 mill

From 6 May to Nov 14, the resouce estimate increased by 4.9 mill ounces or 178,701 ounces/week. That is phenomenal!


Shares: 224.5 mill;
37.7 mill Options convert at 28 cents on or before 31 May 2006.
10.9 mill unlisted options/warrants.

Subject to audit.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.