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Message: Preliminary pit shell..... from Hoov

Hi Mark,

I cannot compete with consultants who do this sort of estimate with sophisticated models and more complete and accurate data, but my shoebox model with some squeezing the data in the shoebox geometry using available from the x-section data indicates some 27 M tonnes of roughly 4-5% for the East pipe. This is a very crude model, but it would give me some indication of the size of the deposit.

Roth settled for 13M which in my view quite conservative. I would trust the numbers cranked out the professionals using the un-constraint model for some "raw" estimates.

It would be useful in an estimate using the constraint pit model to include a discussion on the low grade stuff that could be stockpiled for future processing when the price warrants low grade processing. The consultants/professionals can just plug in new assumptions, including cut-off grades, to crak out new results. They have the computers which can do predictions in a jiffy.

goldhunter

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