Ann: High-Grade Drill Results Confirm Extension of Paddys Lodes, page-12

Regarding Never Never, the prospectivity was always there, the target just started as the Gilbey's North Prospect before they renamed part of the lode as Never Never and they were always rewarded with drilling success there. You could have looked at Gilbey's North and confirmed that it was a good prospect that commence from surface with higher grades at depth. The only doubt they had early on was the extent of continuity downdip & they progressively re-rated as they demonstrated continuity of grade and width extension/downdip.

I disagree with you suggesting that Never Never ended up being completely different. As evidenced below, Never Never is simply an extension of Gilbeys North that was renamed and well marketed to create a perception of an entirely new prospect. It's still phenomenal.

Paddy's has no correlation in any shape or form to Gilbeys North e.g. width, grade, orientation, geometry. Gilbey's North has reported several 50-100g/m intercepts from surface.

Again, i'm not down ramping, it's my opinion on the announcement.