AKO General Discussion, page-152

It is PR of old data..

Refer to page 17 of "Ann: North American Conference Presentation" from 22/06/22.

The thing about this data, which you may have missed, is the grades are the same as HIO who have ~$300m market cap.

HIO have a recovery rate of about 15%

We have a recovery rate that is about 35%.

HIO need to process almost 7 tonnes of ore to produce 1 tonne of concentrate.

We have to process 3 tonnes of ore to produce 1 tonne

HIO have to grind down to about 30 microns.

We have to process to about 75 microns.

HIO have to pay their staff about $150k per year.

We have to pay our staff about $20k per year.

The impact on the commercials of each operation is more than significant.