Ann: General Security Agreement, page-752

To be fair on yourself, they never indicated they were using the gold price of $2500 as their base case and based on all other peers out there that have put out their pfs based on similar size resources & production output were determined to be not viable. I always knew the grades were not high but is not too dissimilar to the grades of any other open pit deposit round the sum 1.3 g/t range. My lesson learn't is to stick strictly to my own rules and never invest in small resource prospects again, thought MDI might have been able to overcome the capex problem with their own plant & infrastructure, but i was wrong and it bit me on balls hard. The sandstone project isn't over, but, i'm not banking on any miracle deals to be done in the near term. What just happened would have put many of the smaller explorers on notice. If we couldn't make a small resource work, based on the stated constraints, chances are, many others won't be able to aswell. It may work if there is a M&A and two small Co's work together.

Anyways, it is what it is now. I spoke to them again this morning, they'll go into more detail on the path forward now and what they plan to do next.