Ann: Appointment of Managing Director, page-20

This is where the smart money buys.
When the nashing of teeth is at maximum.
At the low point. $7 mill MC!
Here are the facts. All the $$ spent over the years have now created
multiple opportunities and drivers.
The Collerina project is a Tritton style resource, but from surface.
The Chair has taken the " bull by the horns " and employed Emtech to model the initial starter pit. That is as a mining engineer he is setting the Company up by using this from surface " starter pit " to bring in dollars whilst building the underground system.
A very big advantage. The present drilling, most likely completed,
will determine further resource extentions, plus most importantly show a connection with the Northern ex CRA successful drilling .
If so the starter pit is likely to extend way beyond the present model.
There are also many smaller copper, zinc, gold systems in close proximity to Collerina, so any starter pit scenario has the real potential to bring into play these close proximity resources, close enough to take advantage of a real operating mine. Tritton as an example is finding new extentions continually.
Aurelia has found new copper, gold systems recently and the Bijoux
find is potentially very exciting as it is within this local trend in the weathered, depletion zone. So any copper, gold in a weathered zone does strongly point to major mineralization at depth.
The potential local VMS satellite repeats such as Yathella 7 kms away
also link to a potential local hub in this Cobar region.
The gold systems are also of real interest, and admittedly as @La Tache suggested the relatively unexplored Northern section, now available was not followed up at this time. Would think due to the recent copper price rise Collerina was considered primary at this time.
In my mind this shows a flexibility to move to take advantage and create momentum which has been lacking, considering our excellent acreage.

JMT

GLA

Cheers