Levon Resources Ltd (New) V.LVN

RE:RE:RE:RE:RE:RE:Levon Catalysts in the short term - Potential Fireworks

[dc12]

I talked to IR yesterday; he was very sure the new resource estimate would come out first week to 10 days in September (even though he realized there has been talk of it coming in August), definitely before the AGM on the 18th.  Of course, he could still be wrong about the August release, but he did sound quite certain - mentioned again the complexity of the new calculations required.  No revised PEA until a number of months later.

Very confident about a 1B ton resource.  Stressed (in response to the obvious issue of low grade and relatively little gold - compared, for instance, to Penasquito) that grade increases at depth (as at Penasquito), and gold is visible from recent drill cores - so perhaps we'll be surprised by the new gold resource; very confident about silver prices increasing and the grade not being problematic for open pit down to 1000m (but of course he would need to be!) - stressed how much interest there was at 30.00 silver a few years back

He confirmed there is no evidence for (really) high grade on the property (e.g., mantos that could be mined early), but stressed that some of the other areas were drilled to only 300m and capped, and will eventually be drilled deeper, so there may well be higher grade there as in the main Cordero resource

4 companies have current confidentialilty agreements - admitted that one is obvious; 2 others have returned a number of times (to the data room or site, not sure which), they are extremely interested.

No plans for Levon to mine the resource, and he didn't focus on the possibililty of a JV.  Mentioned again that they weren't interested in selling at 4.00 before, when they had a smaller resource, so it does sound as if 5.00+ is realistic (if silver prices cooperate, of course)

Most of this just confirms what others have shared, of course