Hi Spec,Sorry it’s took a bit of time to get back to you …...

Hi Spec,

Sorry it’s took a bit of time to get back to you … overthinking it lol.

For me it’s always important to go back over my own estimates when investing … overall I am little disappointed. There were some positives, thou, to me it’s tempered a little by another 3 months passing. There was reasonable explanations offered to be fair.

The processed tonnes at 285,000 t are very good … the 99.7% availability shows great plant reliability, unachievable consistently as the plant ages imo. Seems like plant is finally optimised, great recoveries. Realistically left with grade only now to do the heavy lifting.

The u/g staff shortages continued into Jan so not a lot of contribution from underground imo hence the very low January number ( Jan mill avg feed grade circa 1.67g/t which coincidentally is the same as the open pit milled avg grade for the qtr )

Marchs numbers were much better due to increased stoping ( I had been previously told of increased stoping campaign in March ) hence lifting the overall u/g mined grades this qtr . ( March mill feed grade circa 2.87 g/t )

The open pit process grade consolidated overall was 1.67g/t qtr dragged down by lower grade Green Lantern ore … with the new contractor one hopes this can improve … January may have been a case of less care taken by the exiting contractor ?

The costs were better and improving … like all open pits the money flow will improve as they get closer to the end. June Qtr should produce reasonable cash increase with help of gold price.

Not confident PNR can have 3x March months in the June Qtr … aiming for 22-23 kozs.