Ann: Ausgold Considers Larger Scale Development Options for KGP, page-3

Good news, but in the current market it likely won’t move us. Even though any talk of a 6mtpa mine should move us a lot higher than 5c.

 Focus on a larger gold operation is underpinned by ongoing exploration success, identification of new targets and optimisation activities associated with existing study work.
 A number of workstreams have commenced to support new development options, including:
– Scoping Study which will consider a range of scenarios for up to a 6Mtpa operation, with thestudy to run in parallel with the existing 3Mtpa Definitive Feasibility Study;
– Strategic Business Review to assess optimal size of operations, funding options, and enhancement of executive team; and
– Argonaut PCF appointed as corporate advisor.