Voltalia Ord Shs VLTAF

RE: Question regarding feasibility study

[ALLEN4]

I think we have seen since the pre-feasibility study came out, indications that Volta is looking at a step by step phased in approach to developing the mine.  That seems to be a new trend amongst developers recently.  I think with the feasibility study it will be an entirely different animal with some different options to proceeding.  But my understanding is that usually gold mines will try to recoup as much of capex as they can early on in the game, so that production is often higher in the early years and then decreases later on.  Essakane is in early stages and is a comparable deposit and is now producing 337,000 ounces per year.  The more we produce the more money we make.  I won't complain.