Ann: Quarterly Activities Report - December 2019, page-18

@LibertyS makes for a compelling case

When you add $8m in the bank the price drops to $15 oz. You can barely find it for that.

The ROM pad actually increased A$11m (19000 oz x $600) in the past year and is worth 19000 oz @ $2375 = $45,000,000

Since January 2018 GP has moved up US$250 vs A$700
Here's a little table showing the impact of GP in A$ when GP is US$1600

	SAUD/USD	GP $A	Increase GP	1.7m oz
1			every 5c A$ drop
2
3	100	1600		$2,720,000,000
4	95	1684	$84	$2,862,800,000
5	90	1777	$93	$3,020,900,000
6	85	1882	$105	$3,199,400,000
7	80	2000	$118	$3,400,000,000
8	75	2133	$133	$3,626,100,000
9	70	2285	$152	$3,884,500,000
10	65	2461	$176	$4,183,700,000
11	60	2666	$205	$4,532,200,000
12	55	2910	$244	$4,947,000,000
13	50	3200	$290	$5,440,000,000

May 2019 total resource value approximately $3b
A resource upgrade to 2.1m oz increases value to $5b.