news out

BLUE FUNNEL ORE PROCESSING ON SCHEDULE
TO DELIVER +A$3 MILLION FOR PHOENIX
HIGHLIGHTS
? Mining at the Blue Funnel gold project on schedule and on budget
? Six to eight week ore processing campaign has now commenced at FMR’s Greenfield’s Mill
? Project to deliver net cash in excess of A$3 million at a A$1,350 gold price1
? Stage 1 delivers 86,000 tonnes at 3.5 g/t at a total cash cost of A$980 per ounce1
? Toll milling to produce over 9,000 ounces at 93% recovery1
? Blue Funnel Stage 1 is the second in a series of cash generating mines for Phoenix

Should generate closer to A$5M with current POG!