Ann: Limon Exploration Target - Additional JORC Information, page-71

Hi Pluto08

There are some good grades in the mix thus far but agree quite a lot of low grade boardering on viability but if MN can hit some good intervals this can be used to blend with the lower on the ROM.

"years and $100ml to get something to work"

I have the same concerns......if the next new targets return some grades in the 10-20% Aueq as shown at Limon sheer zone with 10-20m (even a few metres) intervals along DOH with the overall grade for this interval above 1% or above this will make a huge difference to the value of say 50mt of 0.3%Aueq sitting on a pad waiting to be blended and greatly reduce time to start JORKing for around 5mloz target.

Need to remember Brama is mostly Au. $20ml will give the team 12 months to find another 1-1.5mloz to reach 5mt or above and ore tonnage around 300-400mltn which should be quite bankable. JORC the reserve and then fire sale or DTM and aim for inside 18-24 month benchmark. Being mostly Au the Brama project should attract both options.

Risk is more poor results and broker style raising. Fingers xed.