Ann: March Quarterly Production Report, page-78

Yeah, I saw that and left it be, it was unsubstantiated down ramping and didn't need engaging with. Have enjoyed the fact that the 'immediate CR' that the other down-rampers had been touting is now *well* outside the realms of 'immediacy' even firmly touching, 'isn't going to happen at all...'

The 'issue' with Blue Spec ore is that it is held high within high percentage antimony. When gold prices were at historic lows, it was not worthwhile to extract the ore let alone process it from the antimony, hence why Blue Spec was 'shelved' by Novo. However, (and I am sure this was in the Pre-Feas) the price of gold more than makes extraction and processing worthwhile. Moreover, the price of antimony actually *more than covers* the costs of processing the gold out of it, and so the Blue Spec gold ounces would actually be at a slight market revenue premium, factoring in the antimony 'bonus'.

Felix was unexplored 'virgin' prospect, so anyone stating that it was left 'for a reason' simply doesn't know what they're talking about.

Yes, neither Calidus or Keras have been the kinds of investments you can retire from in the short term. Hopefully in the next 3-5 years both will be where we want them to be, and allow for either a partial or full exit heavily in the black, with an added, unexpected bonus of Pirra Lithium too.

The champagne stays on ice for now.