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DG4444

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18/07/22

12:51

Post #: 62587784
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Originally posted by Kevo88: ↑

Questions and email response from Bernard:

Hi Kevin,

Apologies for taking a while to get back to you. I was on the road for 6 weeks and then managed to get covid just as I arrived back in Australia. Good and bad timing!

In response to your questions:

Questions & responses
Will management put out an announcement when the new mine plans have been re-submitted and also attach the plans for investors to assess or is this something that will be publicly available once management have done it but will not be reported to investors. Ie we will need to try and find the plans ourselves?
It is not our normal practice to make announcements when we file documents with the government agencies.
With regards to the re-submission management haven’t mentioned anywhere that it will change the resource reserve, is this something that will be impacted by the resubmission and change. Ie if they cant mine where the Buckwheat is, will we then therefore need to re-drill to re-stablish resource base?
Our DFS economics and mine plan are based on our published Reserves (circa 60mt). We have also published a Resource (circa 146mt) which is inclusive of the Reserve. In other words, we have about 86mt of Resource that is currently not included in the Reserve and hence, not included in the DFS economics. We do not need to drill to convert the additional Resource into Reserve – the drilling has already been completed.

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There was a time when management periodically kept us in the loop on the status, let alone the release, of important documentation.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02212654-2A1212504?access_token=83ff96335c2d45a094df02a206a39ff4

What changed ??
INR Price at posting: 44.5¢ Sentiment: Hold Disclosure: Held
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