Ann: Challenger Ore Reserve estimate-WPG.AX, page-9

78000 is good. It's another 18 months of economical production.

I was expecting we'd have 20000 ounces and be out of reserves at challenger by next quarter, mining resources on a week by week basis.

Future cash flows.
Challenger 78000/2 * $500 = $19.5M.

Tarcoola 77,000 * $500 = $38.5M

Tunkilla 500000 * $200 = $100M. (discounted, future share holders got to make a buck)