Ann: ADU Presentation and Invitation to DFS Webinar, page-65

Initial capex is 32M USD. It seems that part of the reason each announcement is tanking the sp is that it shows itself to be a longer term investment than the company had previously put out/estimated. 53koz/pa for shallows is quite low, but not the main problem, which is actually the extremely slow ramp up to get there. The ramp up to get to a production target of only 53koz/pa (that isn't even impressive at all in itself) is 4 entire years. If year 1 isn't even the supposed early mining initiative then I dont even want to know what that is. Seems good for a long hold, but the hype that was once here just isn't there anymore. The best case scenario for near term gains is a good early initiative accompanied by a substantial run up in gold price. Apart from that, this is going to be a real waiting game and I do hope I am proven wrong.