Easy, let me explain.Firstly, regrading Class A performance...

Easy, let me explain.

Firstly, regrading Class A performance shares, before the expiry date, an output from the resource model, endorsed by Cube Consulting, will generate a MRE in a table of Cutout Grades, should the the cutoff grade at 1g/t + demonstrate a resource of 250Koz +, conditions precedent for the achieved of the performance shares are rights are satisfied.

Secondly, you are confusing the difference between a preliminary feasibility and bankable feasibility study and are mixing the purchase option agreement and Class D of the performance rights. The purchase option agreement states a feasibility study not BFS. With respect to timing, there is NO CHANCE of the feasibility study being at a BFS level and at best it'd be at the preliminary FS stage. The most logical reason why a FS needed to be accompanied is to form a basis to negotiated the purchase of the final 20%. It isn't all about the resource but the cost to mine the resource which value is ultimately determined.

Thirdly, Regarding the delivery of the FS by 2022, it was only a condition precedent to acquiring the final 20%, since the original purchase option agreement is now terminated. Yes, safe to assume the near term focus of the FS is being pushed back, but it doesn't change anything, because the work that is currently being done for the scoping study is completely transferable to the future FS.

Lastly, regarding the 12 month plan head. It is Clearly Highlighted in In the investor presentation that was released on 12th Feb 2020, the day after the JV shareholder meeting, it CLEARLY OUTLINES the plan for the year ahead. I provided a snapshot in my previous post, here it is again. I have highlighted in bold and blue, where it states the work we are doing to transition into PFS. You must have missed it.




Zeff is presenting this week Brisbane Mining Conference this week and there will be an investor presentation update released to the market. you should attend.