Re: AGM

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rationalnational

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Re: AGM

in response to

Re: AGM

NorthLion

posted on Dec 02, 2007 08:43AM

Lion,

I believe that gold in process is indicative of the amount of production for the Q. What is interesting here is:

June 30 2007:

Gold in Process: $3,298,095 (4398 oz @750)

Revenue from operations: $6,073,887 (8000 oz @750)

Total: 12398 oz

Sept 30 2007:

Gold in Process: $3,790,878 (5054 oz @750)

Revenue from operations:$5,573,997 (7432 oz @750)

Total: 12486 oz

So, small increase in GOP ($492,783), with a drop in revenue ($499,890). Seems odd to me, basically saying that @ $750/oz CDN over the quarter (estimate) they added 666 oz to GOP in Q3 and revenues declined slightly. These are obviously superficial numbers that may not be representative of the full picture, but I just don't have time to reverse engineer the financial statements. This is definately an issue of transparency at the present time. It would be good to ask the question @ the AGM about changes to gold in process over the last few quarters as compared to revenue to see what explanation they give. I won't be there..have a good time to those of you who are going.