Ann: Karouni Gold Project Update, page-47

Good reserves did run out a long time ago. We all have been here. Hicks 4 turned out lower grade than anticipated, no way to change that, "Better" approach using more drilling would have indicated lower grade from the beginning, but no difference in the outcome. Spearpoint mined, Goldstar done to the best possible.

Note that Goldstar still has more ounces and maybe could be mined for maybe 3-6 months albeit at a loss at current prices.

Maybe less exploration at Gem Creek and more fixing at Ohio Creek.

Nonetheless the value here is from Smarts u/g, do pfs is what is important.