Ann: Riley DSO Project Update, page-43

Agree plans for Riley have been disrupted, however had we been at production right now it would have been a costly disruption due to having to sell the ore at a lower price. Given that we are not in production, the cost is to time only and we have the luxury to be able to wait a while for a better return. As I see it the delay to Riley does not materially effect the timeline for the main effort which is Lindsay, which is still as far as I am aware moving forward with EPA. Tin and Tg prices are generally holding and generally expected to rise with the growing demand for those resources.

I agree the Tin grade is not "outstanding", Tin grades never are, but they are certainly to a level that makes the Lindsay project more than viable. There is also much more to be defined.

Yes we have a wait ahead, but it is the same waiting time it has always been, these appeals have delayed Riley but not Lindsey.

And the point most people are missing with this stock is that even at today's prices the DSO in the ground is worth somewhere between 20c and 30c per share clear profit. And I believe that is a conservative estimate.