Ann: Investor Presentation, page-17

Thanks for this colour Escalol.....I think Zeta is the key player here.....They obviously want to maximise their return and most likely believe that HRN is the jewel in the Gum Creek/Gidgee crown and want their just return.

The deal will happen once GML can prove up their increased resource and thus bring more value to the table.

Once this is done they can attract the capital to make an offer to Zeta that could potentially get them interested.

If not HRN are prepared via their plan B to start producing via a cap-ex lite tolling deal with a local mill.

So much value to be unlocked in both of these entities over the next 12-24mths.

GLTAH DYOR