Ann: Investor Presentation - Update May 2021, page-42

My issue with the next quarterly update is it seems fairly unrealistic to keep the DFS guidence as there are massive skill shortages in the WA mining sector and it impacts every player in the industry. Many juniors struggle to compete for talent as their pockets are not as deep as the big guys', which eventually spirals into the day to day operation of those companies.

Red 5 just issued a production update, in which they've revised their production guidance due to skill shortages. Production is decreased by 7.5%, AISC up by 4%. Red 5 use the same group of contractors (Emeco's Pit'n'Portal) for their underground operations as OBM, so my optimism about the imminent rerate has started to fade and I am a bit cautious about the upcoming quarterly production figures too.