The announcements about the third XRT ore sorter and the grade...

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.