Ann: Mt Cattlin Update, page-23

Seems that we are now firmly on a monthly shipping schedule having booked in mid July, early August and September

Production continues to surprise to the upside with many days above 100% capacity

Recoveries at 61% also higher than expected of 55%

And the higher recovery was in conjunction with high grades of 5.7% as per last shipment. These two variables have an inverse relationship which means the refining circuit has been upgraded properly and improved. Throughput has also improved with higher crushing rates which is crucial for faster refining

Higher pricing is now expected for 2018 after Gangfeng increases pricing to Mt Marion production