Ann: Trading Halt, page-135

Thanks for that.

I recognise its early for them, so can understand those numbers.

Just my quick thought.
The project will have little debt (if any), it's a genuine high grade deposit with a ton of infrastructure already in place, metallurgical results are coming through with strong numbers and a management team that have built plants before. The plant size will probably be half of what it was and the workforce numbers won't be like the previous business, and they are finding new ounces via the drill bit cheaply.

Simon said in his latest interview, we have more than 50 stopes with over 10,000oz and that's an enormous amount of gold.

There are only 2 levers in gold mining to improve AISC.
- Keep your costs down
- Get your ounces up.

We will have a heap of sunk costs (including a ball mill and a new paste plant) and the ounces could be real big with those sorts of stopes.

So could this AISC be something this market hasn't seen for a long time? The grade has certainly ticked that box.

P