Ann: Dalgaranga Gold Project - Mineral Resource Estimate Update, page-67

Not sure it's approaching 'Tier 1' just yet but does it have to?.......a 'Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve'. That said it could produce close to half the definition of Tier 1ounces (if the numbers keep coming) however in the lowest decile of cash costs per ounce which would push its overall profitability closer to a defined Tier 1 asset which would possibly make it sought after even for larger producers that would ordinarily overlook a resource just delineated by SPR albeit still growing, and fast.

Last week I mentioned I thought SPR was getting away from a deal that would make sense for RMS and be attractive to SPR. Today's release has I think confirmed that. I think you're right, SPR's potential suitors now extend to international producers looking for raw high returns not predicated just on a labelled minimal resource size but on a meaningful project capable of delivering very high IRR's for over 10 years. I'd think on any approaches an advisory firm appointed by SPR would be marketing this to a larger suite of potential suitors than those just domiciled on the ASX.