AKO General Discussion, page-186

@NonPolar

Yeah, good point about the inferred resource providing opaque numbers with relation to the financials.

I would imagine the initial results of 65% could be used as they were independently verified by the ALS lab in Perth, and there were a few holes that were drilled in this area that would provide indicative figures, and these would be validated by the M&I drilling that's just been completed and is being processed.

The grade will absolutely impact the margins and financial studies, but again the caveat of what is already known.

That said, there would be a number of studies that wouldn't be greatly influenced by grade.

- the DSO mining prices will be the same irrespective of whether grade was 69%, 65%, 62% or 58% (dig, crush, screen, ship)
- mining equipment will still be the same to produce 2Mt of ore irrespective of grade
- transporting 2Mt of ore per year will still be the same (if the grade was lower, margins would be impacted, but we still need to build the same amount of all weather road and perform any other upgrades)
- port and shipping would be the same for loading 2Mt of ore per year
- community and environment would be impacted the same irrespective of grade
- power consumption for DSO mining will be the same irrespective of grade (it's the same process)

Today is the 9th, after tomorrow we enter "mid November".

Exciting times, this is the first time I've been involved in this process from such an early stage.