re: end of day whoosh, page-16

re: unbelievable issues to deal with

costs of production - cost blowouts in WA

WA labour policy - will be discounted till it is formalised

time till production - will impact any valuation, enviro approvals, native title

Where he has pulled the figure from - any new intercepts, drilling? Drill results are still a few months off to prove this estimate

Historical intercepts - were non jorc and they were low intercept - only 1-5m width at fairly average grades. Usually world class deposit need about 5-20m intersection width at good grades.

Production rate- how big or small

basically needs drilling to prove it up. 44mil pounds sounds a bit suss without authority