Ann: Boorara Ore Reserve Supports Development, page-4

Yes they have based the $19 million cashflow off $3300aud gold. It’s obviously much higher than that at the moment (around $3700) and should only rise with these global financial and geopolitical issues escalating.

It is nice to see the economics stack up, it’s a short life, just over a year of production but it should pay off the disasterous $5mil loan management entered into, and it should fund more drilling and development related workflow of other projects - projects with longer mine life’s and better economics.

Yes, it seems all very positive on paper and nice to see but management have not kept their word now for 4 plus years so until we are actually seeing gold coming out of the plant, then the jury is still out. What I want to see most of all right now, is management buying BIG on market, putting their salary to good use and showing confidence in their own words. If I see that, I will start to be a lot more positive.