Ann: Maiden Blue Spec Reserve underpins expansion for Warrawoona, page-7

I'm not sure where you got $78m from. Page 11, $34m in the breakdown of pre-production CAPEX. Around 75% higher projected costs than at the time of acquisition, no doubt taking recent global and post pandemic economic circumstances in to account. No doubt part of the reason for the delay.

Limited/negligible concern from me on the size of the maiden resource. It's conservative precisely as Warrawoona's pre-feas was. Plenty of upside potential on top of that cited in the study, including open pit potential and no mention of processing the old tailings, that, if memory serves, were felt could hold sufficient residual gold to offset a sizable chunk of the initial acquisition cost.

A decent, necessary stepping stone forward.