My own personal belief is that while reasonable, the results did not live up to the general expectations brought about by prior results and possibly forward looking statements.

By prior results I mean the results from BH 2, 3, and 6.

I.E. The Santa Fe outlook report on page 7 says, " targeting Large Lower Grade System with higher Grade Zones (similar to Cove). Given the previous results at SF this may have raised expectations to unreasonable levels.

Also, Mr McConnell sometime in July made the comment in a presentation about SF to the effect that, (I quote) " we may have a tiger by the tail."

I guess what you say can sometimes come back to bite you.

SF is still in it's very early stages despite mention of a 43-101, whether it will ever prove economical is a decision that is a long way down the road.

Dublin Gulch and Cove is where its at big time. The exciting results at Dublin's Shamrock and the new area reported at Cove, Windy Point.

This is all just my humble and inexperienced opinion.