Well, since this didn't cause any excitement, the only cause for the reversal of the downward trend is a possible sell-off in long term treasuries - not necessarily anything that happens within the company. Its been like this forever, you can check this chart for the data of the last 20 years on that subject. This is why I favour dividends.

Note that in 2002 news about EP results caused a significant rise of the stock price out of the doldrums. (in blue) We are in the new year and publishing results of EP zone mining. This development has been ten years in the making.

Share price appreciation is not a given with this company due to the atrocious dilution of the float and the chronic arbitrage (jitney trade in the stock) in the share price to the great disadvantage of the shareholders.

You might be right that ~4000oz./month might come out of EP/Riddle. 2000oz./month might be much too low. The tonnage is sufficient to last 10 months, but the historical record says there's much more than that.

350tpd * 12.77g/t = 4469.5 gm/day

4469.5/31.1 = 143.71 oz./day

143.7 * 365 days = 52, 454oz./y EP/Riddle production

Roy Lloyd production 45000oz/y + EP/Riddle production = 97,454.15oz./y

Of course, this does not take into account rate of recovery, or dilution of the grade.

Company says 100,000t of ore, (EP + Riddle) but the historical record from 2002 says more than 500,000t of ore.

The one glaring omission in the news release is the tonnage rate being passed through the mill. Is the mill being fully utilized? We just don't know. These calculations are based on the full utilization of the mill to 700tpd.

With the planned addition to the mill of approx. 300tpd., and the ore from the EP Zone expended, they can move on to Komis and Golden Heart, which will keep the production rate steady. 100k production is not completely out of the question here.

Shouldn't this all be publicly clarified in no uncertain terms? You have to wonder.

-F6