Ann: Commissioning Underway at Karlawinda, page-3

Cheers for the reports JSS.

I was pleased to see that Cannacord actually discussed how important the recent plant upsizing was to the production profile for CMM.
133k p.a for the first 3 years, is a big boost compared to the DFS.

The update read really well.

The 250k on the ROM pad to date is a great outcome, with it likely further bolstered by the time the first pour occurs (I would prefer to see at least 1 full month of ore on the ROM, so... closer to 400kt). As ramp up will, be a matter of increasing the amount of ore going into the plant, it seems logical, that the ROM will meet my (1 month of ore is what I believe most in the industry view as being a requirement for ensuring that any issues due to weather, equipment etc can be mitigated).

Though to be fair, they have already blasted a further 300kt, so... it could be argued, they have over 7 weeks of ore ready. I guess this is what can happen when you have a proven team developing a project.

What really impressed me, was the in excess of 4mt of ore grade controlled! 1 full year of ore. I don't think I have seen that in any developer to date.



Finally, very pleased to see they have recruited their full workforce (I have no doubt, it was exceedingly challenging to do so).

I fully expect CMM to give Gold Road a run for their money in the coming years.