Ann: Mt Ida and Bottle Creek Resource Upgrade Adds 113,000oz Au, page-142

The first gold put should occur in late April or early May from Tim’s Find ore that will be toll treated (exactly where is a mystery now). We’re not building a plant onsite for Tim’s Find.

The PFS due in March for the Bottle Creek 750ktpa operation will contain all the details on that project. The Final Feasibility Study is scheduled for June. My understanding is that they’re targeting mining for the big show in 2020 so I guess that with Grant Harding’s appointment and the engagement with Como (who specialise in modular gold plants), they plan on getting into construction immediately after a final investment decision which must be slated for July. My tip is that Blue Cap will be contracted for the major mining operation as well which should provide good continuity for all involved. They’ll have significant equity in ARS and will be well incentivised to make it work.

If Tim’s Find goes to plan, we’ll be properly cashed up and will easily secure debt funding so outside of final permitting, there should be no major constraints to commencing construction very early in the new financial year.