Ann: Maiden JORC Mineral Resource for Oracle Ridge, page-2

The London Metals Exchange Cu price is $7741/tonne (highest price since 2014), making the total copper in the above Oracle Ridge 1% cut-off mineral resource estimate table valued at US$1.4 billion.

Superb.

Add in the new drilling results early in 2021 and we may be on our way towards a US$2B resource, and that's only around 40% markup. Plus the other targets and the hunt for the porphry source, this could pop to US$3B very quickly.

Great work to do an upgrade on the MRE using legacy drilling, provides a robust base for our next model with the new drilling results included.

Also worth noting is the geotech assessment on the existing underground workings:

With the recently collected data, a complete database isnow available to assess both the spatial variations andstatistical ranges in geotechnical conditions. The dataindicate:~ 13% (say 15%) of the rock mass is of ‘Fair’ rock quality(RMR < 60, average 50, Q’ of 2);~ 30% is 'Fair-Good' quality (60 < RMR < 70, average 65, Q’of 10); and~ 57% (say 55%) is 'Good' quality (RMR > 70, average 75, Q’of 30).

87% Fair-Good to Good is fantastic for kicking off activity underground safely without any major reinforcement work.