Ann: Kiaka Owner Mining FS Update & Capital Raising Presentation, page-18

What 7.6% reduction are you referring to?

The waterfall chart puts it all in black and white. The cost reduction from owner mining and higher production is offset by higher royalties, diesel, grade control and general cost inflation.

The higher royalty should have been factored in by the market since this was calculable months ago when the Govt made the changes. The other changes to diesel and general inflation aren't great but really out of the company's hands, and probably consistent with what would be expected looking at the rest of the industry. The extra grade control is a risk reduction initiative.

The company has been open here in explaining the cost changes. The alternative is they say nothing until first AISC on commercial production, and then there is a big gap to the feasibility AISC. That's how most do it.