Ann: Adelong Goldfield Strategic Review Update, page-101

Forgot to say I calculated this math with the average amount of 180.000t ( 160kt-200kt ). When we average also the known grades for the mullocks (1,6gpt historic and 3,3gpt recent) so 2,45gpt - we get ~ 14700oz. While that's roughly 39m$ aud worth I wouldn't expect to get too much from that, because a toll treatment deal will favoritise more the plant owner, imo. That's where our management needs to step up to get a good deal done. Recently cnb sold their 12500oz mullocks for $6m so I think we could get the same or bit more for our "waste" . So it depends on how much ounces we definitely have but I think $5m to 7,5m AUD seems realistic. So I hope. With that we could drill like crazy, update our plant and would reach production imo.