Ann: Positive results from initial Mulga Bill met test-work, page-25

1. >60% can be recovered easily and cheaply through a physical process / gravity separation technique.
2. Refractory ores are difficult to process, most need a flotation process on the front end, thickening of the concentrate then leaching. This flow sheet is complex and will require higher capital to cater for the multiple unit processes. Operating costs also high due to required reagents/ consumables.

So, today’s announcement is significant as it informs us that if the gold is there, we should be able to recover 90% of it cost effectively.