Ann: Metallurgical Test Work Supports High-Value Concentrate, page-42

Looks like some posters might be missing the point with DRE. DRE is either going to produce a concentrate, bring in a partner or sell it to a larger developer. The capex required for a concentrator is a tiny fraction of the costs HAS are talking about. Bringing HAS capex into the picture shows he doesn't get the basics of DRE. HAS is turning more toward the DRE model because it does dramatically cut costs, gets to profitability much quicker. It does not intend to spend years and a billion bucks trying to build a complex processing plant. They have made clear that they will drill this out scale, complete any MET requirements, and monetise the project. They have told people that they currently receiving interest from various parties. I can see these guys getting that together this year and attracting real interest at that point. The geology is wide brain dead open. Scale is not a problem and neither is grade. YIN is already 10 years plus mine life. I dont know how much mine life they will want this year other than to say, the current HAS resource would make a good target. Canaccords note from yesterday sticks with its 24c target on the ironstones. Canaccord understand the project.