Ann: 31.12.19 Quarterly Activities & Cashflow Report, page-78

bmwgirl,

Please understand It's not just about overburden btw. Grade and the assemblage value has a lot to do with it.

In Ground Ore Value of Various Min Sand Deposits



Above spreadsheet are my current best guess using available information or peer analogy on like-for-like deposit styles and assemblages.

The Corridor recovered insitu VHM value per tonne may change with drilling and proven resources at a later date. For reference the first Corridor MRQ Release table uses data released by MRQ where $8/t of in situ ore value was quoted to prove it's validity. Otherwise, all tables use updated, current and long term pricing deck (Thunderbird adjusted for haematite entrainment in the Ilm). Corridor MRQ Updated has an upside grade of 6% compared to the MRQ acquisition release plus high commodity prices.

These tables are not to be relied upon as accurate. Grade, assemblage and recoveries may vary in reality of time, although to my best knowledge they are a fair representation of reported data etc etc.