Ann: Response to ASX Aware Letter, page-106

Just an addition to my post above. Using the total LOMP with the total 37.4m tonnes of ore to be mined and processed, and the waste of ~276m Tonnes, with mining costs to be 29% higher like they are with 'processing cost', (around $US3.65/tonne instead of the $US2.83 in LOMP), then C1 costs run at about $US1,442/oz and AISC at about $US1684/oz. (assuming recovery stays the same as present 84%)

Even the site administration costs are running at $US25.23m/yr. In the LOMP general and administration costs are meant to be $US3.50/t ore. At 4m tonnes of ore per annum the current costs are over $US6.25/t ore for 4m tonnes of ore/yr (on current per tonne of ore the cost is $US11.19 for 2022!!! ) (equally disturbing is this works out at $US521/oz of Gold produced in 2022 so far!!)

AISC are not total company costs, so even if mining costs were only 29% above LOMP, and I think they are way higher from what's provided in the quarterly, then the mine's future is marginal at best and I wouldn't expect anyone to fund it.