A comparison between EQR and G6M, page-116

The announcements about the third XRT ore sorter and the grade from infill drilling both had an uplift from previous figures.

XRT sorter 90% recovery to 95% recovery

Grade Control Drilling .48%wo3 to .65%wo3(very small area)

July is expected to have 40,000+t of ore from the mine so lets run the numbers with 40,000t.

OLD

XRT sorter 90% recovery

Grade Control Drilling .48%wo3

40000 tonnes

40000*.0048=192t / 19200Mtu

19200*.9=17280Mtu -XRT sorting

80% plant recovery

17280*.8=13824Mtu

Convert to 50% concentrate x2 - 27648Mtu 50% Concentrate

NEW

XRT sorter 95% recovery

Grade Control Drilling .65%wo3

40000 tonnes

40000*.0065=260t, 26000Mtu

26000*.95=24700

80% plant recovery

24700*.8=19760Mtu

Convert to 50% concentrate x2 - 39520Mtu 50% Concentrate

50% concentrate sold for $167/cmtu

Old Revenue: $4.62m
New Revenue: $6.6m

If costs were $3m
Profit would be $1.62m vs $3.6m

It is surprising how much of a difference these small positive changes can make. Let me know if anything is off.