Ann: Helikon 4 shaping up to materially extend Phase 1 life, page-65

The DFS discussed the mine strip ratios, and that mine waste would increase in Year 9 to maintain concentrate production (p17).

An upgrade to the MRE that will result from from the Helikon 4 drill campaign will likely push out the projected mine waste increase by 4 or 5 years. This will have a significant impact on the estimated operating costs for the project life, further improving the business case.



Profits made at Karibib must be shared with the 20% co-owner. If the costs are lower, but the margin remains unchanged, then a higher proportion of the total margin (Karibib + KIZAD) will flow to LPD.