Ann: Update on Gold Production from Agate Creek Gold Project, page-61

BMA ( BHP/Mitsi Alliance) , SMR, TER etc have all re-opened coal mines over the past year because of coal's increase in FOB Aus price & the depreciation of the AUD vs the USD. Coal is priced in USD.
For example in 2012 when Coking coal was $140 USD/ton it was also $140 AUD /ton because our Peso was par with the greenback
Today highest quality HCC is on average $180 USD/ton ( $260 AUD) ( 69c USD/AUD)

This price makes all the difference and negates extra mining/transport costs such as those anticipated by LNY, IMO.

500K ton/p/a is a small operation by Australian standards and the only worry, IMO, is can HCC prices remain high as they are now in AUD
(not USD) LNY needs to sponsor a definitive bankable study on Ashford to give us a better understanding what costs may be, timeframe &
inferred risk re forward product price

IMO, the RBA's negative comments on Monday on the Aussie economy has driven the AUD down ( not the election) which bodes well
for Gold & coal exporters, both of which will benefit LNY, IMO. If the RBA reduces interest by a quarter of a % in June, then, IMO,
our Peso will cop a dusting.( So much for the Lib's spruik on economic management!)