Ann: Funding and Operations Update, page-6

Yil & Man. And then there is BNR & State royalty, trucking costs, recovery <100% and the usual unexpected costs. So as you say how will they pay off debt? Which will continue to increase as SMS is still on site.

What is odd is that they entered into a toll arrangement at 2.75g/t when the reserve grade is 1.7g/t. As you say there is a long list... But this board seemed to be experienced, at least so far as the prospectus went. Don't like the prognosis, was thinking of entering off further weakness but the risk is they lose the entire project.