Ann: Alexander River Maiden Mineral Resource Estimate, page-4

Guess this is where I say told you so... One free gold jewellery box flyer intersection (hole 84) doesn;t make a high grade gold mine, let alone a Fosterville. Seems they ran up against an honest enough resource geo who just had to use a responsible top-grade cut as is right. Need a lot more hole 84's to turn that top-cut and the geological reality around imo.


Meanwhile, nothing looks economic here in what has to be very high cost and high risk mining development geology. Skinny shoots, pinch and swell, faulting and orientation changes in the lodes, very broken ground conditions, some resources too close to rugged surface for ug mining, no size or scale for modern mining etc.



131k Oz @ 4.1g/t looks way under interesting before trying to convert the more robust shoots into a recoverable mining reserve. Outside the McVicar shoot resources are insignificant, and the McVicar shoot only has 50k Oz to play with. Need a lot more success at depth, like a step change success, before this looks bankable imo.

Good luck