Ann: Diggers n Dealers Investor Presentation, page-7

I will be interested to see what remains to be done to produce a DFS, given the work which has preceded the PFS. I am hoping that what remains is largely writing tender specifications and getting actual quotes from contractors which will pin costs down exactly in the DFS and have contracts more or less ready for signing on decision to mine.

I am not convinced that having the exploration team working on exploration has slowed the preparation of the PFS. It could happen in parallel, and it doesn't look as if they have spent all that much on exploration. Soil sampling and review of historical data ... the drilling has been mostly infill / resource definition I think.

It is a long road from exploration to production - working on future discoveries seems like good practice to me. Personally I hope we have funds for some exploration drilling during the DFS / building phase, partly because newsflow could be good for the SP, and partly because of the potential to turn the project from a 7 year mine to something longer term.

I notice they seem to have settled on gas to run the generators. I want to bet on the future price of gold. I don't want to bet on the future price of diesel. With a gas supply on hand even if diesel goes through the roof, and future underground is made more difficulty by possible bans on underground diesel, there are a lot more options. Some of the gas generation could be replaced with wind/solar/battery and heavy machinery run on gas. It might not come to that, but personally I would rather gas was in the mix.

The board changes looked to me like financial support in exchange for board representation. Three large, apparently separate, holders, each with a board position looked safe to me ... not some kind of loss of control, but the test was going to be, in my mind, who the board elected chair. Joe's election was reassuring to me that the board changes were as they appeared, and not a sign of something else.

Apart from POG considerations - the whole Kin resource is now in the money, which means every $100 increase in the POG is worth potentially nearly 90 million, or well over twice the market cap - I haven't forgotten the hints which have been dropped about annual production levels and likely reserve. My fingers are crossed for something that will get some attention.

Good luck.