Ann: Parks Reef Resource upgrade to 1,390,000 ounces, page-11

Parks Reef PGM Horizon

Pt .77/1.52 = 50.65% .5065 x $960.90 = $486.77
Pd .66/1.52 = 43.42% .4342 x $2423.34 = $1052.23
Au .09/1.52 = 5.92% .0592 x $1773 = $104.98

Total 3E PGE vaule = $1643 USD

$1643/$1773 = .9272

1,230koz x .9272 = 1140koz AuEq


Parks Reef base metal - gold horizon

Pt .12/.33 = 36% .36 x $960.90 = $349.41
Pd .08/.33 = 24.3% .24.2 x $2423.34 = $587.47
Au .13/.33 = 39.4% .394 x $1773 = $698.45

Total 3E PGE value = $1635.33 USD

$1635.33/$1773 = .9223

160koz x .9223 = 147.57koz AuEq

Total 3E PGM AuEq = 1287.57koz

Copper credits

53,900t x $7462 USD = $402,201,800

402,201,800/$1773 = 226,848oz AuEq


Total AuEq 1,514,418oz

This was the method i used to derive my AuEq again no rhodium credits have been taken into account