POD vs. GAL, page-11

Thanks Kevin. I believe you (and the market) are underestimating highly predicable homogeneous vertical mineral systems. The current macro environment and energy crises (high hydrocarbon fuel costs) actually makes UG deposits increasingly more attractive. There's less "work" involved to mine UG. The biggest hit to AISC for UG operations is not the actual work required to mine but the unpredictability of the resource, high resource definition costs and hence high risk of unplanned waste rock and low grade being mined. POD does not have this issue.

The GAL and POD market cap performance has very little to do with deposits imo. You are suggesting it does but have not provided any info to back this up except a very casual comment about mineral geometry.

You say the market knows which deposit it would prefer and one can infer that you hold the same position as the market. yes?

If you were to extrapolate GAL's 3 hole mineral system to something like 15km by 15km with the same mineral width of 1m + 6m of PGEs at the below grades, do you think this is a minable and profitable open-pit project? Lets take it it further and more extreme, what if we were to extrapolate it to 100km northing and 100km easting (same width and grade)? what would be the basket price and estimated ASIC? You think its possible to make a profit at current pricing with GAL's hits?