Ann: Carrapateena Pre-Feasibility Study Presentation, page-7

Nordesmic, would you be able to guess how much extra reserves at Carapateena would be required to get to say 15% IRR. The capital costs of the project don't change hugely in that scenario of increased throughput or extra mine life. Would a full BFS possibly include Khamsin and Freo Doc tonnages - what if the scale was the same but the process plant life was 50 years+ or if scale was double and life remained 25 years? I think that at this early stage it would have been good to do an investor presentation and speculate on a range of possible scenarios moving forward on the regional project possibilities and look at IRR in each scenario.