What happened to all the resources? From the previous operators (SAS) estimate, the numbers are substantially lower. For example, these figures are pulled from SAS on Nov 2006:

Reserve/Resource Estimate from former operator: St. Andrews Goldfields-SAS (Nov10/06):

Proven: 51,500 ( 47k tonnes @ 34.05 g/t)

Probable: 82,230 (137k tonnes @ 18.6)

Total P & P: 133,730

Measured: 27,700 ( 23k t @ 36.8)

Indicated: 87,700 (126k t @ 21.6)

Inferred: 46,300 ( 93k t @ 15.5)

Total MII: 161,700

Total P&P+MII= 295,430

Tailings: 30,000 (160k t @ 7.6 g/t, 83% recovery)

Note that these estimates are before the 2007 and 2008 drilling which looked so impressive. In fact, even with gold prices up substantially, they seem to have lowered the estimate.

In addition, FAU had a previous estimate in an older presentation that was similar (sorry, don't have the date). Here are the estimates from that presentation:

Resource Potential from FAU presentation:

Potential above:113,000 ( 84k t @ 43 g/t)

In the Mine: 188,000 (233k t @ 25 g/t)

Tailings: 30,000 (160k t @ 7.6 g/t, 83% recovery)