Ann: Presentation - NWR Virtual Small Cap Resource Conference, page-37

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1934

06/05/20

19:38

Post #: 44473090
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Originally posted by SpecFourTwoSix ↑

After listening to Richard speak this morning i think it is in their best interest to wait and take this slow, at least until more underground ore is added to processing. The ball is in their court, they have time to test the mill bit by bit. The underground ore was never going to be ready for processing straight away(they never said it would be sooner or later than Q3 2020) the build was most likely going to be completed before schedule and as the months went by this was becoming more and more obvious. There is seriously no point in announcing commercial production just for the sake of it and trusting that they will achieve guidance without the underground coming into processing until 1-2 months after it is announced. Best bet is to be safe and continue to delivering on your promises to shareholders.

They are new to producing so whilst they previously said second half 2020 commercial gold production i think its best they keep that goal. M1 South is the most important part of sanbrado to achieve that 300k ounces in the first year.

They are new to this, some experienced already of course but this team needs to find its own culture and grow together. Richard mentioned that they want to be a company with more than one producing mine eventually. They now have until the end of June to create the foundations for that culture.

My example is jundee for NST, Jundee didn't perform that well in the march quarter but last year when jundee was pumping i remember hearing the site/personnel pushing to get to that 300,000 ounce mark for the financial year. Even throwing personal jewellery in ( i call BS though). Doing everything they could to reach their target.

Let them get comfortable with their surroundings, Let the new employee's learn from the experienced ones and let them form a bond with each other so they can create an atmosphere which will focus on hard work and dedication to the job.

The board make the decisions and call the shots but the workers are now just as much the ones creating value for us share holders.

As for numbers and production guidance, any speculation would be almost pointless as M1 south probably will add substantial changes to anything we predict now. I highly expect those changes to be to the upside in this case.

Grade is king

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what is your definition of commercial production ?

WAF Price at posting: 81.5¢ Sentiment: Hold Disclosure: Held
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Ann: Presentation - NWR Virtual Small Cap Resource Conference, page-37

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Ann: Presentation - NWR Virtual Small Cap Resource Conference, page-37

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