The Company will be reporting under International Financial Reporting Standards (“IFRS”) effective January 1,

2011. Under IFRS an entity is required to assess at each reporting date any indication that a previously

recognized impairment loss no longer exists or has decreased. If there is an indication, the entity is required to

estimate the recoverable amount and determine whether an impairment reversal is appropriate. The Company will

carefully asses the alternative accounting policies available under IFRS and will definitely consider a reversal of

the write down of the carrying value of the Company’s interest in Las Cristinas and possibility restore the carrying

value to its original value, based on the facts and circumstances at the time of adoption of IFRS, such as the

receipt of the Permit.