tony, page-8

Great results for long term holders again obviously. However, because Calidus has not yet got a resource that's technically feasible in terms of ounces, it will struggle to go up until it reaches at least 1 million ounces indicated. 1.5 million and beyond and things should get interesting. Those results were generally amazing so had this been any other stock with a decent already proofed up resource you would of seen the price rise a fair bit perhaps. This is a major box ticked in my opinion. The company stated that they are looking to get the resource to 1 million and above to justify being able to afford the mill ect. Multi million ounce potential here but until they prove it ( at least 1.2m ounces) the price will most likely hover. That's is only thing holding them back. Early stage of exploration moving on to development is always this case. Be mindful of the amount of shares they have, how new they are to the market, and that there could be a dilution is the air but not until next year.