financing the project, page-23

Forged et al,

In my view the JORC announcement released this morning is ambiguous in respect of the DFS statement.

It is either in hand now or the following quote applies " for the Mount Peake DFS which will commence later this year".

My opinion is that the preliminary work for the DFS is well in hand but that the formal compilation of the Study has not yet commenced.

Either way it should not have much effect on the the delivery of the Completed DFS.

The JORC announcement makes very good reading and should strengthen the SP in the short term.