Ann: Response to ASX price query , page-3

I guess one is more surprising than the other?
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AKM is normally conservative in its language so, 'significantly extend ... Ore Reserves ...' is hopefully, significant. After the flack they got from the reduction in the resource estimate a couple of years ago, I hope they wouldn't have used that word without having good reason to do so.

I imagine that a significant increase in the Reserve number should improve the Bankable Feasibility Study later on (longer mine life, and/or higher pa tonnages; an even higher NPV and better economics for Northern Rail, which keeps the line until the mine runs out). It should also offer longer/better returns for potential investors, and our friends at Noble of course.

And that's still having drilled only about 20% of the Basin.

Interesting that AKM thought that the remodelling was the reason for the price increase (or wanted us to think that anyway).

GL