Ann: Amanda Resource Potential Increases, page-12

As usual spec, you raise some great points.
Like anyone else, I never like to see reckless dilution.
The year is planned with the exploration ramping up for both ug scoping and the pfs, both to be done in tandem.
I trust that not only deg management are mindful of plant size and grade which I am confident in an upcoming increase.
One of the many possible surprises will be conglomerate exploration which is well underway now and updates will be getting very close including those bulk samples from novo as well as our own beginning this month.
I would also expect that deg will have results at a much more realistic time frame than novo.
Having two cornerstone investors such as KL and dgo, gives some sense of security to access for funding and some restriction to dilution given that we have ongoing exploration success.
I guess Top Drill taking equity for drilling is an endorsement to any doubt there may be.
That brings attention to the plant size- Grade will have an large impact and will be affected by the current ramp up in exploration especially and conglomerate surprises with possibly much higher grades.


The settlement for Indee was extended as follows, ref ann Feb 12 2018.
Keep in mind that the Jan 24 settlement date can be extended to July 24 with a payment of $700,000 that is then deducted from the final settlement amount.

All payments contemplated above will reduce the final settlement figure of $14.9M – for example, if the transaction settles on 24 July 2019, it would be settled at that point through the payment of $9.7M in cash and the issue of $3M in shares.

I have hoped that funding for construction, working capital and the final settlement for Indee would be done in one as debt with the possibility to upgrade the plant for higher production once we are commissioned and making money.
This will fall into the time for funding and construction.
Andy has told me that he wants to be in construction in 2019.

Below is the updated Schedule without the 2019 component.
The next few months will have a significant effect on the overall metrics for plans and outcomes prior to completion of this schedule.
Kind regards, Wack.