Ann: 3D Modelling Indicates Large Scale Porphyry System, page-44

Thanks for that great summary.

It makes sense to give the El Pilar oxide deposit priority status. The mineralization is high grade, close to surface and it's a flat area, so it should be easy to dig up and process the ore on site.

15 Mio USD capex either via a gold loan or via proceeds from the arbitration case sounds good to me. If all ducks line up nicely in the coming six months, we could have our first cashflow from copper/gold concentrate in 2024 and then self fund expansion organically via building La Demajagua and drilling out El Pilar porphyry.

It's a matter of getting one mine up and running, then the rest will fall into place as we will have positive cashflow to grow and expand our operations.

2023 will be an exciting year.... AAU could become a ten bagger if all things fall into place nicely. All imho.