Ann: Operations and Guidance Update, page-24

Yes I am thinking that it is what they are not telling us which is the problem.

Needing to stockpile some ore for subsequent blending is not necessarily such a big deal, the DFS did reference a mine plan that accounted for blending to keep within the arsenic limit.

But why now was MCR seeking extra flexibility from BHP on this? How much needs to be stockpiles? Is there more arsenic than planned for? Is there another reason for not meeting guidance?

I do note however that it was only two weeks ago that the new CEO bought shares (albeit at a low price) and I presume if they thought this was a material issue at the time of the last CR then they would have had to reveal it (or accept potentially serious liabilities).

I am not impressed, but without further information will be doing nothing. Just holding. Dropping my sentiment to HOLD.

EL