Ann: Board Restructure, page-47

I agree with you whole heartedly on this subject SF2TH. The BFS is not really an issue. Let's use AVZ as one example of defining the resource.
The large resource is proven with a competent drilling program of known resource size. We know there is likely to be a lot more REO in tenement TN03424. Is there need to spend extra money on a large drilling program on TN03424? Or just outline the potential with an inferred resource/indicated and concentrate the BFS on the first drilled resource of RL1693 and EL1766 where you can get Measured and Proven. West African Resources(WAF) just carried out a similar program. They started production once the plant was built and now drilling further down to prove up a greater resource size while generating income from production.

TN03425 is likely just for infrastructure as it doesn't sit in the resource belt. Note from the presentation that the 132kV power lines run through TN03425 and from where the electricity is generated.




NOTE: These new tenements will likely stop others from encroaching on to the boundary of IXR and leaves IXR unhindered in setting up a plant and processing area.