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veritas2

03/07/11 12:37 PM

#12485 RE: cjstocksup #12478

Those highlights just reinforce the fact that SUGO does not have any "reserves" at all and it will take a boatload of money to even attempt to establish the less significant "resources".

From your so-called highlights:

"It is clear that Conglomerate Mesa warrants significant additional expenditures to move targets forward and develop NI 43-101 resources."

In fact, throughout his 87 page report Moore repeatedly notes that the property does not have established NI 43-101 compliant resources.

For example, from page 27:

The following sections are designed to review and summarize the work of Newmont, BHP, Mobil, Asamera, and Timberline. None of this past work was completed under the current Canadian NI 43-101 regulations and thus cannot be used as 43-101 compliant materials.

And from page 32:

Newmont, BHP, Asamera, and Mobil generated an extensive amount of data through geologic mapping, geophysical surveys, rock chip, soil and stream sediment sampling and drilling. Very little of this data is available in digital format, with adequate back-up, and thus unavailable for confirmation that would satisfy NI-43-101 reporting requirements.

And from page 52:

All of the reported results from Asamera, Mobil, Newmont ,and BHP were generated prior to 43-101 requirements and the Author has no knowledge as to how samples were collected or handled.