Ann: HPA PFS Update, page-15

Best case and worst case scenario's are pretty hard to define. Each has different values that people would react to. One persons worst case may well not be anothers. Similar with best case scenarios.

Myself without adding in any potential JV, funding, cornerstone Investor etc and just based on CAPEX, Revenue & payback period I think the following would be reasonable.

BEST CASE - Capex of $200 Mil -$250 Mil
- Revenue of $350 + Mil
- Opex of $125 Mil ??? or even less? [unknown factor]

NETT - $225 + Mil

WORST CASE - Capex of $400 Mil
- Revenue of $250 Mil
- Opex of $150 Mil ???

NETT - $100 Mil

Of course without the PFS being released these are just assumed numbers but I am prepared to use them for myself in my own decision making exercise for now.

Its important to note that ..........a worst case scenario for KRR PFS would be............a very good case scenario for most "other" small mining companies starting out.
There really is no "negitive" PFS possible for us its just about how good it with end up being. ie: Good, Very Good, Excellent, Brilliant , Outstanding.

My opinions only posted above. [hope I am not wrong]
DYOR

Yak52