Ann: Half Year Accounts, page-28

In todays announcement on Juan Carlos, in JP's quote he says "...especiallywith the planned mineral reserve/resource estimate and the DFS slated for completion in the comingweeks."

I view "the coming weeks" as end Q1, given there are 2 weeks left in March, which is as previously communicated. I do however personally believe that end Q1 is when it will be completed by the contractor for final issue to GLN so Board will likely need a couple of weeks to properly digest the DFS and turn into an ASX announcement and associated investor presentation. I therefore expect to see the DFS released to the market mid to late April, but "completed" by the contract end Q1.

Either way, we are very soon to have a DFS that shows we have a re-risked project with an NPV >10x our current MC!!!! Only way from there for share price is UP!! No chance a company with a de-risked DFS level project can remain trading at 10% of the NPV, should be trading at ~20-30% NPV at least on DFS and then higher once offtake and funding sorted and announced. FYI - I'm expecting a HMW NPV of >US$3B!!