Ann: Corporate Update, page-20

And going underground would have meant royalty rate decreasing from 8 to 5%.

Really disappointeddisappointed in Barrick exploration which really was Troy 2.0 while they had the means to do it right i. e. diamond core drilling.

Troy duds were not in exploration but modeling and then grades turning out lower. And that modeling was done outsourced by the typical names in the industry.

Going underground would alter the input to modeling just in the right way.

But Troy as operator of Karouni is probably burnt. Stop of care and maintenance means a huge immediate problem that could lead to the GoG stepping in to keep the asset alive and find a new investor.

Troy could end up with a royalty on Karouni then.