Ann: Tarcoola updated Feasibility Study and Ore Reserve Estimate-WPG.AX, page-4

The WPG valuation is just getting silly now.

So 2 year mine life (let's not account for mine life extensions) for an additional 40,000 ounces. 20,000 ounces yearly. Let's just value Tarcoola off that.

Capital expenditure - 4 million.

AISC - 916 aud an ounce

Okay jeez let's use 1000 aud an ounce for AISC.

Margin..let's use 1700 gold price..so margin is 700 aud

Let's be conservative.

40000 X 700 aud = 28 million cashflow

Minus the 4 million expenditure

Tarcoola is worth 24 million using conservative AISC and gold prices with capital expenditure included. Just ridiculous that the stock has fallen under an enterprise value of 50 million.