Ann: Kin And PNX Merge to Create Exceptional Platform for Growth, page-15

I have been looking at PNX announcements trying to get a handle on whether they could develop a gold project.

They engaged Como in 2021 (who did the analysis on the plant KIN had when it suspended its production plans) to develop a proposal for Fountain Head including:

Como is an experienced and well-regarded engineering group that specialises in ‘fit for purpose’ solutions and

utilises modular and transportable equipment in its plant designs. PNX is working with Como to deliver a design

and construct proposal for the carbon-in-leach gold Plant for a fixed-duration, lump-sum price, thereby removing

a large portion of the project risk from PNX. This work will be completed over the next 3 months and provide the

Company with a fixed-price design and construct contract proposal. As the scope of work is further refined,

consideration will be given to utilising second-hand equipment where possible and alternative equipment options

to achieve further reductions in capital and operating costs.

I wonder if there has been a plan in place to use some of the plant components Kin has stored at Cardinia, separate from the merger proposal. I am not sure how much of the Lawlers plant ended up at Cardinia, if the big mill was ever refurbished, if the smaller mill is still there, etc. I thought KIN had the steel for the CIL tanks also.

Since I paid for some of that plant I would quite like to see it finally in use.