The headline sounds positive enough but buried in the press release:

The previous resource at TI deposit was contained in a NI 43-101 report published in September 2009 and included a total of 3,245,000 tonnes grading 8.56 gpt (892,700 ounces) in the Indicated category and 894,000 tonnes, grading 5.74 gpt (164,900 ounces) in the Inferred category. Based on a sensitivity analysis using a 3.0 gpt cut-grade, the cut off used for the previous resource estimate, the total average grade of the updated resource is 7.56 gpt, within 5% of the previous estimate. The reduction in total ounces from the previous estimate reflects depletion of 90,000 ounces from mining activities since September 2009, as well as the removal of ounces in some areas, mainly in the Vein and Footwall zones of the upper part of the Mine, where drilling to date has not verified grade and continuity to the level required under the Company's current criteria for resource estimation. Further drilling in these areas may lead to ounces being added back to the resource.

The market doesn't like reading that the resource is less than previoulsy thought. As one would expect, LSG is experiencing selling pressure on high volume today. If it weren't for the bad news, we wouldn't have any news at all! It's going to be an extended wait for us longs I'm afraid.