Ann: Update on Progress - Appointment of Consultants, page-221

Gold/Gold stocks have taken a little breather after a very strong 4-6weeks.

The next leg up will be to US$1,600/oz perhaps in September, so buckle yourselves in for a fun ending to 2019. AISC after DFS will likely be ~US$850/z once the CAPEX and OPEX have been adjusted by WAVE.

With gold at US$1,600/oz, and AISC at $850/oz, that's a solid US$750/oz profit margin (AUD$1,100/oz+). The IRR and NPV will need to be adjusted in the WAVE DFS to include for a higher gold price.

A very profitable gold mine for stage 1 (70,000/pz), and ramping up for stages 2/3 will be very attracting for a major to TO the stock. Not many gold mines have 2+ decades of ore to process via conventional open pit.