Ann: 2018 PFS Roadshow Presentation, page-78

Everywhere in the world carries risk at some level. Australia is politically stable ( well some may think otherwise sometimes) but our environmental risk is through the roof. God help one if there is an EPVC orchid or the Powerfull Owl living smack bang in the guts of the high grade. Good luck with that mine approval. What about a new coal mine? In Aus? Good luck with that too, assuming you can even get funding. Short of it is there is risk but BGS believe it is manageable. Remember you can't predict everything that may happen in the future.