ann out , page-29

My thoughts:

1. Is more drilling a pre requisite for completion of the DFS? No, however drilling will continue to shore up the numbers on +0.5% Cu in areas that have been sparsely drilled, yet have the potential for higher grades. It is these higher grade areas that will be targeted at the start of production.
2. Will NFC renig on the MOU? Anything is possible but why would they?
3. Is this a bad result? No. It is an EXPECTED result as the numbers move from inferred - indicated - measured.
4. Gold numbers look good.
5. Would Soros and Sentient be disappointed? The grades have not changed for years so I guess they knew what to expect. Why would they go into a project like this knowing the existing grades but blindly hoping for higher? I haven't seen a rush for the exit today so I assume they are still on board.
6. Will the capital raising still be at 25c? I shall have to ask Dean that question.

For all those that were disappointed on not making a quick killing on the announcement, I repeat. This is a LONG term play.

Its all part of the long and exhaustive process of building a mine. Results were as expected and market reaction verifies this. Steady as she goes.

Cheers,

I hold MGO