Ann: Misima PFS and Maiden 1.35Moz Ore Reserve, page-15

They have no plan for funding and no idea how to do it. The only good news on this front is that they have gone for the low capex/low oz solution which at least gives them some sort of chance to fund it. The good news is the DFS should improve on the back of good drill results from continued development of the early starter pits. This should have been and still should be the main focus and end game not dicking around in WA. Waste of shareholder funds. Many more rigs should be employed NOW to increase the proportion of the early mill feed. This pushes back the money required in the main pit to undo the rehabilitated pit profile. Plus the early results look like the starter pits are higher grade. Combine this will substantially increase the NPV if the management focus on this key factor now not cogitating over WA distractions. Also more exploration success in the starter pit targets will super charge the share price, substantially improving the market cap, allowing a higher market profile and more aggressive funding solutions. WA is a distraction and either should be put on care and maintenance or sold, preferably sold to fund starter pit drilling.