Ann: Malachite in Discussions to Develop Lorena Gold Project, page-19

Hi Adam,

If they go down the path of adding to the plant then I would say about roughly a year. Depends if they already have some engineering concepts etc. From my understanding they only intended to have BCD do the treatment for 2 to 3 years before they expnded and built their own leaching and electro-wining circuit anyway.

Hopefully in the meantime they could finish the existing plant (via an updated agreement with BCD or some other party) and have some toll treatment which could be as little as three months but could be longer as too many variables exist and look at the current delay which essentially started late Jan based on BCD going into administration.

All painful which is why the exploration work is necessary to increase the "Known" and thus bank feasible resource rather than an "estimate" which if it is based on some good geological study is generally reasonably good but does not meet the standards required for a bankable feasibility study.

That's why I say lets support the current exploration ( i call it more resource firming) project via the SPP in order to increase the known reserve and thus potential project worth and SP.