Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-5

I have corresponded recently with management .I guess not a lot to add other than the company is
currently looking at 3 mill options. If everything comes together it is anticipated that production will
be initially first yr around 180000t/for about 20,000 ozs of gold.{ plus bonus silver ?}

Clearly ,even at say Oz$2900/ounce and with an " an all in costs" basis at perhaps lower end 50% of t/o this
will be more than enough to fund an extensive exploration campaign to prove up more shallow grade targets etc...
on an ongoing basis..thus potentially improving company valuation as we go...

Perhaps, at the start some capital raising will be appropriate but should be self funding plus some once in production !

My opinion only of course...

Cheers....