Ann: Brisbane Mining Club Presentation, page-13

Yep - one of the things they may need to do to produce a higher grade con grade is give up a bit on the recovery. There is a trade off between metallurgical recovery and conc grade and perhaps Cathy had assumed they may go down this route (lower recovery, higher con grade to get to 52%).

This does not solve the problem of the high Pb and potentially makes it a bigger problem as Pb grade will also increase. They really need to have a separate Pb con recovery circuit to increase their Zn grade and reduce the Pb in zinc con. How they fund that as well as Stage 2 is going to be the big question.

The risks are stil there - that doesn’t mean that the problems are insurmountable. Still keeping this on my watch.