Ann: Half Year December 2019 Results, page-5

The share price at close yesterday was 56.5c - correct???. Giving a market capitalisation of $117.4M (in Australian dollars). Yesterday.

What has changed since the 31st December.

The gold price has increased? Yes or No? Productivity is back on track and slated to achieve guidance and cost for the rest of the new? Correct? Infrastructure projects have been announced - which will be a capitalised expense - adding value to the mine infrastructure and to Medusas asset holding (less depreciation of course). Medusa has eluded to Gold assets which have not yet been quantified. Correct?

It is noted that the following figures appeared in the statutory accounts for the half year ended 31 December 2019. These accounts need to be accurate as they need to audited and supplied to both shareholders and various regulatory authorities.

The following issues are relevant in the context of yesterdays share price:

Total Shareholders equity as at 31st December 2019 was $147.210M US - the exchange rate at 31 December was $0.7006 giving us a Total Shareholders Equity of $210.12M in Australian dollars. Given that the gold price has increased ...infrastructure programs have been flagged ….additional potential reserves have been flagged ….and guidance is on track ….there is a massive difference between the real value of the company and the so called trading market value ie $210.12M statutory figure vs ASX Market cap of $117.4M. Very undervalued in my opinion.

There are 207,794.301 shares on issue. The total shareholders equity would fairly value shares as at 31 December 2019 at or above 1.01. Correct?????

Do your own research.. .