Ann: Presentation, page-23

Vertigo, I think IK is aiming for a concentrate of 30g/t. From the preso,
'Targeting a high grade concentrate for loading in shipping containers at mine site at > 30 g/t gold'

30g is 1 oz. So lets ignore any silver credits

"If that is the concentrate grade, on average over the mine life rather then the high grade stockpile. Then the ROM grade must be about 5-8g/t."

Yes the <100,000 oz deposit has 7.4 g/t

Again I think IK is targeting 36,000 tpa of ore mined which would give 6-10,000 tpa of concentrate.

If you want to use the lower end 6,000 tpa,
a $100 higher processing costs, from $800 to $900/oz,
a $50/oz lower gold price, at $1300
and a $100 shipping cost vs $50-$70,

you still get around $2m pa

the year to date Mantle spent $660k on admin and wages.

So where do you get?

"Norton will pay for itself and pay the company's admin and wages but not much more."