Ann: Australian Gold Conference Presentation - Hemi Gold Project, page-10

Its interesting to make a comparisonwith CHN. But the Chalice scoping study is quite different to the DFS of DEG. We have already been through the SS and DFS stages so there are no nasty surprises expected around the economics and those studies demonstrated that they used realistic and conservative expectations and commodity pricing. Unlike Chalice that used values well in excess of current commodity prices. If their predicted prices dont eventuate the main Chalice mine may only be marginally economical rather than being the outstanding cash machine that the market expected. Likewise they suggested that mining wouldn't start until at least 2029, which also worried short-term holders.. With DEG, it's likely the build costs may go up a bit, but it is likely to be offset by a significant increase in the mining reserve based on all the additional infill drilling in the past year. so hopefully its only onwards and upwards from here? we will find out soon!