Ann: June 2023 Quarterly Cashflow Report, page-5

Guys not wanting to be dour, but maybe it’s time for us shareholders to start looking at the glass as half full not half empty. And I agree, we’ve all had many reasons to be cynical in the past several years. But in terms of drawing down on the debt facilities, we’re now about to start spitting out (based on AISC) in excess of $A1k per ounce of clear cash (tax credits aside). That is, not cash flow but clean profit. So let’s say we get to 60k ounces over 12 months or so, that equates to $A 60m clear. And we’re only now just starting up this machine! So although $100m debt seems massive, it’s not. On a debt that size at say 6% interest, it’s servicing and repayment is not significant (once a producing mine). As long as all the mechanics of the mining process work as designed. Onward and upward!