Ann: Strategic Acquisition of Zinc-Silver-Lead Project, page-65

Yeah - I'm not so sure that defined resource of 22.5 million tonnes grading 1.8% zinc, 0.5% lead, and 4.6 grams per tonne (g/t) silver at Sandy Creek while Djibitgun has a historical HORC 2004 resource of 20Mt at 16g/t silver and a base metal resource of 6.7Mt @ 1.8% Zn, 0.6% Pb, and 14.0g/t Ag is that compelling, yet.

That's a low-grade resource and sensitive to trucking distances if the idea is to still build the mill near Sorby Hills, I can see the synergies with an all-weather haul road but throw in increasing labour costs in WA and 1.8% Zn even at the surface is a bit marginal unless we see Zn Pb and Ag prices go through the roof. If you had absolutely nothing else to feed a mill and the mill was already there then yes it's better than nothing.

I'm considering it more of an exploration acquisition myself with that ground, which is also poorly explored and the discovery of some higher-grade resources would be my preference. They didn't pay much for the acquisition which is good. The synergies are the all-weather road + the geological understanding and in-house experience = possibility of finding something higher grade that will move the dial on the economics of the area. Its also good in that it adds mine life to Boabs existing projects and as we have all learned about Pb Zn Ag projects, you need to be mining for at least 15 years to have a chance of catching the very rare high price cycles that can be incredibly profitable but short-lived.