From Production05, thanks for the response:

I don't think we will ever go back to mining the Sigma o/p. The pit is too unpredictable for ongoing o/p mining. Even if they are 99.9% sure there are a few solid ore spots that can be efficiently mined via o/p, it's best to just leave it alone. From a market perception standpoint, It would take away from all the great progress being made with the Lamaque u/g.

A better bet is the Sigma II o/p. It's located about 20 kilometers away (in Louvicourt), within trucking distance. In the late 80s (or 90s), Placer Dome mined 155,000 ounces @ 2.67 g/t from Sigma II and trucked it to the Lamaque (Sigma) mill for processing. The deposit is still open at depth. If US$300 gold was good enough for Placer Dome to mine (and truck) Sigma II ore, US$1,180 should be just fine for us in this environment. The 2.67 g/t gold is solid, but most likely the grade will increase with depth. I believe the property is quite large (around 400 hectares?).

Sigma II will need an exploration assessment to test the depth of the deposit and then infill drilling for resource definition purposes prior to deciding whether to initiate a plan to move towards mining it.

G.