The Suurikuusikko project is located some 900 kilometres north of Helsinki, Finland, on a 8,500-hectare property. Geology in the region is similar to that of the Cadillac-Bousquet belt in which the LaRonde mine operates.

We first became actively involved in the project in 2004, through our equity position and representation on the Board of Directors of Riddarhyttan. Buoyed by the results of an extensive exploration program, we made a successful $130-million bid for the remaining shares of Riddarhyttan in 2005.

Numerous drills are operating on the property aimed at testing the deposit at depth and converting gold resources to reserves.

As of year-end, probable reserves are 2.3 million ounces of gold, from 13.8 million tonnes grading 5.3 grams per tonne. The measured and indicated resource contains 1.9 million tonnes grading 4.2 grams per tonne, or 252,000 ounces of gold. The inferred resource contains 6.7 million tonnes grading 4.3 grams per tonne, or 934,000 ounces of gold.

As the exploration program continues, we are particularly encouraged by the potential along strike – while the known strike length of mineralization is 15 kilometres, only 5 kilometres have been drilled to date.

Construction of a mine at Suurikuusikko could begin in late 2006, pending completion of a final feasibility study. The study envisages open-pit and underground mining, and a 3,000 tonne per day processing facility. Capital expenditures are estimated to be approximately $170 million.