Ann: Gold Sales for 2024 Exceed A$18M. Toll Milling Continues., page-6

Agree

I think the gold price introduces a new risk to our projects and success, which is that of obtaining and retaining the throughput for processing, with other low / non profitable assets slowly starting to trickle online as a result of the now-possible margins.

However, my personal view on this risk is that it is low. Munda's grades are incredible, in the range of ~9-25g/t over many meters, with the clear potential for some nuggets in there, such as the 1m @ 321g/t. Grades like that are very hard to queue jump, so I think we'll have Munda rolling on pretty happily.

Caution there, in that I've not mapped out the competitors in the local region, but I do know that the number of companies that have readied there assets for mining is always going to be smaller than the number of prospects, so I'm happy with the level of risk I've taken