Ann: Updated Company Presentation , page-3

Yes SEMS, Peter's banking experience is very relevant which means he should have a very good idea of what will work in the real world.

The $60M reduction in OPEX over the first 3 years (page 4) is encouraging for quicker payback. (compared with original Newmont design) I'm really looking forward to seeing the update PFS.

I figure that sales in each of the first three years should be something like 4,000t of Tin in concentrate - which could bring in over AU$100M of revenue, which should (very conservatively) result in a solid '8 figure sum' of free cash flow per year. When we see the PFS - we should have a much better idea on what is possible/likely. Given that the current market cap is around $5M, we have some serious upside re-rating in both the near and medium term.

Also value of the Silver and Copper has not been taken into account. With a possible total of 4.4MOz of Silver at $20/oz ($88M) and 26,400t of Copper at $7200/t ($190M) these byproducts will be a very useful 'upside' once mining operations are underway.