ERM 0.00% 5.4¢ emmerson resources limited

Ann: Initial Ore Reserve for Chariot, Mauretania and Black Snake, page-8

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    Page 28. MARKETING
    Gold dore from the mill will be transported to a gold refinery within Australia.
    Currently the futures curve is in contango indicating higher future prices. The current mine model utilises a A$2,450 gold price for
    the life of the model which is ~25% below the spot gold in AUD (Figure 2).
    INFRASTRUCTURE
    TCMG will be constructing the gold plant at Nobles Nob which will be supported by associated local infrastructure. YES, but when????
 
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