Ann: FY2022 Production and Cost Guidance, page-17

Medusa is pretty well debt free. As we continue going forward capital will flow to the decline - in turn reducing the decline construction risk. Even if Medusa does go slightly over budget it will have funds available to complete. Current ASIC is in the 1250-1300 range. The Philippines is 4x larger than Australia in terms of population. I am of the opinion that jurisdiction risk is very low as there are many other companies on the Philippine Stock Exchange. The reality is that Medusa is very profitable and has accumulated sufficient cash to pay for the decline. All the subsidiary services around the mine have already been completed. DYOR