Ann: Jaurdi Gold Project - Lost Dog Update, page-16

Yeah I agree, I probably didn't explain my thoughts on that very well. They will remove the overburden starting in August and continue the process plant storage and ponds, from my understanding the pull apart plant is coming together so they will be doing testing etc while doing ore stockpiling and grade control. The staged approach I believe will then further fund expansion of the plant once they are sure of the processing requirements from the first batching. The first runs won't produce great quality, alot of waste, but they will start making money. I don't think they will be spending a large amount straight up on the plant with the ball mill costing only $600k It will be budget construction until gold flows and more gold reserves are found. Another company I was reading about is spending $90+millIon on design and construct on there plant for a 1mill ounce reserve with a lower grade. I'm just not sure how much they have spent on the plant thus far, the $2.9m should fund the shallow overburden removal and stockpiling. If plant is not ready this crew has many contacts to get it processed and so close to Facilities compared to the Haileys mine (200+km to get ore to processing facilities last time) so I believe they can produce in short term without getting extra funding. They have an agreement in place with council to haul through Coolgardie from minutes of council I read. So yeah it's a timing thing but I just hope they don't rush out and chase the dollar and punish existing shareholders by dilution.