Ann: Annual General Meeting Presentation, page-30

Grade is king - project to date against the DFS, it appears that the mined grade is more than 33% down ie 2.21g/t vs 1.47g/t. The Iron ore rock stars run on their massive margins ie(100% - 800%) but the good ole battlers in gold strive for a 30% margins or more. ie(a gold miners profit margin). Obviously there are are a few gold companies who absolutely smash it but the reality is that gold mining success is more ore body derived than management driven, hence the need to get the ore bodies right. Anyway, this company has C grade ore bodies that were over estimated in grade for the DFS and a BOD who appear not keen on getting them redone in despite recent grade performance. I imagine there would be a lot of egg resting on a lot of of faces redoing the ore bodies and getting a lower grade. OBM need to redo their geology ore block models, re-optimise, re-design, re-budget and re-present to the shareholders their new life of mine plan. it might not replicate the previous KPIs spruiked but gold price is up and it may restore confidence in the company somewhat. Its not hard to do and its fairly standard stuff for a professional mining company especially since grade is the #1 driver in mining economics. My 2c.