Roy Lloyd Mine

In April 2011, the Roy Lloyd mine produced 6,516 tonnes ore at a grade of 16.21 g/t gold.

There's a clear difference between what's being mined, stockpiled and processed. 14.15/16.21 is an 87% rate of recovery.

Non-GAAP Financial Measures

Total Cash Costs per Ounce of Gold

The Company has included a non-GAAP performance measure, total cash cost per ounce, in this report. In the gold mining industry, this is a common performance measure but does not have any standardized meaning, and is a non-GAAP measure. The Company believes that, in addition to conventional measures prepared in accordance with GAAP, certain investors use this information to evaluate the Company’s performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Total cash costs per gold ounce are derived from amounts included in the statement of earnings, and include mine site operating costs, processing and administration, but excludes amortization, reclamation costs, financing costs and capital development costs. The costs included in the calculation of total cash costs per ounce of gold are divided by gold ounces produced.

They're saying that they don't want their shareholders to really get a handle on how the company is performing just yet. So they throw everything and the kitchen sink into the mix. But they don't break it down at all.

AND they went out of their way to avoid releasing any news, it was just casually posted to stockhouse. It didn't appear on SEDAR.

Its blatantly obvious that they don't want ppl. to know what's going on.

-F6