Ann: High Grade Gold Confirmed at Charters Towers, page-24

re: Ann: High Grade Gold Confirmed at Charter... Kalimaya, valid opinion. Keep in mind though that CTO was valued at around $500m in its hey-day and around half that now based on the Chinese buyer. It looks like it was over cooked from retail hype and was dumped back past where it should be.

Sliced, yes the operation is underground the town which would increase production costs relative to an open-pit operation.

The gold extraction plant is located away from the populated areas of the City about 10 kilometres south west of the City centre along the Gregory Developmental Road (Clermont Highway).

In theory Mantle could negotiate terms to use the plant or expand on site.