Ann: Maiden JORC Resource for Mayoko-Moussondji , page-9

re: Ann: Maiden JORC Resource for Mayoko-Mous... I've only skimmed through the document so far, but happy with the JORC as a solid start point.

Hopefully it doesn't cost too much to upgrade the ore. From what I've read, the company has been saying that they can use simple processes, jayneen seems to be across it well. I've had a $50p/t OPEX in my head for a while as it's been mentioned in broker reports I've read. We won't know until the Scoping Study though I guess.

So the 100mt will be used as the basis of the Scoping Study, with a recovery ratio of ~60% for the main part. That's plenty of years at 5mtpa (after an initial lower production level), so the NPV & IRR should look impressive. The magnetite underneath will be able to sustain production for many years after the upgradeable DSO is depleted.

SDL is on a different scale with a different product compared to Mayoko. EQX's project at Badondo is probably more comparable to SDL's deposits. As jayneen said though, EQX has a railway and a port, it's the distinguishing factor.