Trelawney Mining and Exploration Inc TWNNF

Analysis of results

[beachman]

I don't own shares but would have bought in today if the results released today were better.  IMHO the main problems as far a share holders are concerned, which explains the neutral reaction of the markets today, are as follows:

1) the low grades relative to section 93+00E - markets were expecting grades 5 times better

2) the fact the mineralization narrows and becomes lower grade up plunge/dip

3) Holes 10 and 11 from section 93+00E were not reported on
4) No mention of results from section 92+00 E which suggests they missed entirely on this section which is 100m west of section 93+00E which was reported on last month.

Bottom line is that this hole did not add big ounces to a potential resource:

Section 94+00E ounces gold =  150m(width) x 200m(depth) x 100m(length) x 2.7 (sg factor) x .03 (oz/t) = 243,000 oz

I used 1 gram/tonne avg, because the grades reported were uncut and there were narrow intervals of very high grades in holes 9 and 10 that skewed average grade up.