We believe there is significant potential to upgrade the inferred resource of the

hornfels and skarn deposits to the measured and indicated category following

completion of the extensive 2011 drill program.

Following positive results from the 2011 drill program, management has stated that they

intend to commence an expansion program at CSH. Our discussion with management

confirms that the actual amount of expansion will depend on the updated resource


After discussions with management, we believe that the new

estimate could potentially double the existing measured and indicated resource to

around 10 million ounces of gold (inclusive of reserves) based on the exploration work

done on the project since the last estimate (discussed later in this report).

The expansion could see a potential 100% increase from the current production rate of

30,000 tpd to 60,000!...Lets hope Jiama matches  CSH in reserves it will be a market Cap changer!