Ann: Mt Thirsty Potentially World's 4th Large, page-5

re: Ann: BAR: Mt Thirsty Potentially World... From the BAR ann today-

Mt Thirsty a potential world “Top Five”
As previously announced in January this year, initial studies have identified the potential for Mt Thirsty to be
catapulted into the world’s top five cobalt producers within its first few years of production.
An independent study by Perth-based metallurgical and engineering consultancy, Simulus, found that the cobaltnickel-
manganese deposit, 20 kilometres northwest of Norseman, could readily produce 3,700 tonnes of cobalt,
10,300 tonnes of nickel and 27,000 tonnes of manganese per annum in its first three years.
This would immediately rank it the fourth largest cobalt producer in the world.
The findings of the Simulus study are part of current pre-feasibility studies by the joint venture into Mt Thirsty’s
potential.
The study defined a likely capital cost for the mine of US$400 million on current day values, with potential net
cashflow over the 17 year life of the mine of A$1.65 billion.
Mt Thirsty has a current JORC Inferred Resource of 14,800,000 tonnes at 0.14% cobalt, 0.59% nickel and 0.99%
manganese and a JORC Indicated Resource of 14,230,000 tonnes at 0.11% cobalt, 0.52% nickel and 0.77%
manganese at a 0.06% cobalt cut-off over an apparent strike of 1.3 kilometres and 800 metres width.