Ann: March 2024 Quarterly Activities Report and Guidance Update, page-31

Here is the link to the conference call: https://www.rameliusresources.com.au/audio-visual-main/march-2024-quarterlyteleconference/

Mark Zeptner said if they started the cut back now it would be 18 months till production and that a gap in overall production is unavoidable. Though he did say that he has hopes that the Mt Magnet hub will cover for much of that missing production from Edna May. Very laid back approach from the Zep as when asked about hitting the button for stage 3 he said the teams are just wrapping up other work and will now turn their attention to EM3 but that it was "too early" to speculate what they will do there. Bloody hell, panic merchants like me have been pleading with them for a couple of years to be decisive about whether to do Stage 3. The Zep said he expects it will only cost the company about $1m a year to keep the EM mill on care and maintenance. Must be on island time as he seems in no rush at all.