Ann: 2023 AGM CEO Presentation, page-79

Scott G6Ms debt of $60m and growing should be considered in any MC and NPV comparison right? Also with their third mine plan change since the latest NPV figure, the many capital raisings and increased Opex I think the $252 million figure is well and truly irrelevant. I also think you will find the majority of G6Ms NPV figure is gained from the underground mine not their OC. They haven't raised the money for the underground yet so I still struggle to see what they even base the NPV figures on, I have to assume the plan and calculation was done based on free cash flow from the open cut. Given they are losing money every day, are not likely to turn a profit any time soon and the underground may turn out unviable when they can afford to progress it there are huge questions outstanding for G6M. Apparently an update regarding Dolphin and the future plan of it is expected to be released soon.