Ann: Mt Carbine & Saloro Operations Hit New Production Records, page-7

Some notable comments from Kevin's webinar;

1) Saloro has 3 times the production capacity of Mt Carbine and will be profitable in the Sept Qtr, after these current improvements have been implemented. Was Saloro a great deal ? Absolutely it was !
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2) Clients worldwide are scrambling for supply and EQR with Saloro and Mt Carbine in the western world is a very very significant supplier of tungsten
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3) Saloro has great potential for ramp up whereas Mt Carbine has reached its capacity, apart from head grade, which is coming in later next year
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4) The reason they took Saloro on was the recovery was only about 40% and they knew they could improve on that – standby, there will be another bump-up in that recovery in the very near future. Kevin is pretty bullish on Saloro
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5) Tungsten supply – China, Russia, Nth Korea all appearing to retain more of their tungsten for domestic use which leaves less available to the western world
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6) Mt Carbine will be a bit of a break-even for the next few months whilst they do some stripping but Saloro will start to shine pretty bright in the next Qtr. Then when the Mt Carbine stripping is done, it will really start to print money. Mt Carbine is doing some infill drilling and finding some very nice grades
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7) The next couple of years will be about “growth” – so don’t be hanging on for a dividend