Up in the States down in Australia ????, page-20

Partly right, I think. I wouldn't dismiss 3,000,000 of structural gold as being worthless, if it eventuates, but the analysis of the economics as they stand right now are pretty solid.

The PFS will be at least 739,000 ounces, all of which is measured and indicated, and should convert very well to a reserve. If they are able to convert some of inferred, we might see closer to 1,000,000 ounces and a 10 year mine life.



If a 3,000,000 ounce resource was delivered, that could easily accommodate a reserve of 2,000,000 ounces, which is 20 years of mine life, or 10 years if they were to reinvest in doubling the plant's capacity. That would go a long way to enhancing the economics.

I wouldn't get hopes up about trial mining the conglomerates in the next 5 months, unless you're talking about Novo. De Grey will still be bulk sampling by the rate things are moving, trial mining will be a whole other kettle of fish.

But you're right, the conglomerates is what could really get it there in terms of economics. I wonder when the next update about that will be. Almost a month since the last one.

Cheers