Ann: Full Year Statutory Accounts, page-30

Goldnova1 has a point - but let's unpack this.

I know BEZ is building a PILOT Plant and not a commercial one but I am comparing.

BEZ's pilot plant would process 50tonnes per day if I remember correctly - so at 3 grams a tonne -that's 150 grams a day in gold or a touch over 5 ounces a day.

gold is about $3,900 AUD an ounce tonight - so about $19,500 per day less costs

assuming the processing happens 365 days over the year it would be about $7.1m in gold.

now as we know gold mining, processing and refining does not happen in a linear fashion - stuff goes wrong - machines break down so the actual annual number will be much less than the $7.1m.

now as a comparison - de Grey is moving from explorer to a producer - they aim to produce 500,000 ounces of gold per year - the processing plant will process over 10million tonnes of dirt per year - or 27,000 tonnes per day.

here is the crunch - the cost for de Grey to build a commercial plant is AUD$1.3 Billion - all info from from their ASX announcements.

SO - whilst I hold BEZ. - the pathway and cost to get to COMMERCIAL production will be long and very expensive - let's say BEZ wants to produce 100,000 ounces a year - a cost of $200m to $300m for a fully functioning plant will be needed.

with the Quantum issues - not sure where this funding will now come from. it's either large future capital raises or debt or both.