Ann: Exploration UPdate, page-135

Sometimes it's worth posting obvious stuff because it's pretty apparent that it's not always obvious to others. Whatever assayed grade or recovered grades are realised, this is something to take on board:

The polymetallic AuEq grade returned from the pilot plant work and the polymetallic AuEq grade returned from the assays as well as the polymetallic $ value per tonne of ore are all determined by the adding the grades of the 8 metals (normalised to AuEq before adding). The point is that it's an additive process:

Total polymetallic assayed or recovered metal grade (g/t AuEq) =

x g/t Au + x g/t Ag + x g/t Pt + x g/t Pd + x g/t Rh + x g/t Os + x g/t Ru + x g/t Ir

(metal grades converted into AuEq before adding)

We've seen the massive potential that the rhodium grades add to the project. What potential is going to come from adding Ag, Pt, Pd, Os, Ru and Ir on top of that?

If an assumed grade of 5g/t Au gives an exploration target of 26Moz, what is the polymetallic assayed grade going to do for the exploration target?

What is the polymetallic AuEq grade returned from the pilot plant work going to be?

What is the polymetallic $ value per tonne of ore going to be?

Maybe we won't see big assayed or recovered grades for some metals but there's not much evidence of that yet. The point is that we're going to see some very big polymetallic AuEq numbers.

Have a good weekend folks.