AGM PRESENTATION TODAY Check the AGM presentation , slide 14 states as follows:
A Natural Resource Holdings 2012 study highlights the declining grade of new discoveries and highlights the scarcity of high-grade deposits globally:
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439 identified deposits (189 producing, 250 under development) have more than 1mm oz of gold:
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Average gold grade of producing deposits is 1.06 g/t, and 0.66 g/t for undeveloped deposits;
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Less than 20% of the projects identified had grades above 5 g/t;
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only 10 undeveloped projects above 5 g/t had more than 5mm identified oz;
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The Vetas Gold Project has shown the potential to be a high-grade deposit – while also being close to existing infrastructure.
This is where we are, high grade deposit with a 5 million ounces potential..