Ann: Exploration, Development & Corporate Update, page-272

Yeh if they dont get a favourable outcome out off the CNs for sp support then I will say they have f it up...as long as they have conversion at 3.5c i.e. 5% for previous 12 months development than I will say there in a great position to take advantage of granville over the next 2 years and onwards...negating dilution until T2....cost = 5% dilution vs gain in tin sales 2019, 20 and sentiment. I cant see a reason why they wouldnt want this to happen.

They do need to have the results flow to give any more detailed guidance, need a quarter of G2 full capacity data to do that...

I find confidence in the fact the trial shipment confirming >60% concentrate was despatched prior to the installation of spiral technical which is designed to increase recoveries especially of the finer fractions.....the recoveries theyve achieve from processing tailings also points to more favourable recoveries once combining with stockpiled and mined high grade ore.

They have also released some data on recoveries achieved at Granville to date...so there is some supporting evidence that the feasibility is conservative or will be at worst accurate.

Plenty upside there imo