Ann: New Research Report Released, page-84

It's a fair question although to be honest I find your general demeanour towards other posters quite disrespectful. What is the point of all this schoolyard attitude?

The company's strategy appears to be pursuit of the largest resource in Tanzania at the expense of everything else, including good science and economics. Here are a few "red flags" in the PFS and in my experience these rarely improve with a BFS. Ignore at your peril.

- Processing cut-off grades at 1.5% is ridiculous, absolutely ridiculous.
- The basket price assumptions are overinflated and probably the only reason Volt has a reserve at all.
- Presumably the best cross sections are highlighted in the PFS, and these almost don't appear to be mineable. The company may have produced other cross sections, I don't have time to check but 10 meters at 3% is junk.
- Where is all the met work? 82 RC holes and 10 DD holes, nearly 5,000m of drilling and virtually zero met results. Why? This is arguably one of the most important inputs into the PFS.

Someone asked a question about basket prices and I believe this will be the critical discussion in the next 18 months. It's an opaque market and in my opinion there is zero credibility in the forecasts of crayon chewing analysts if the banks will not debt fund any of these projects.

As I mentioned before, there are many headwinds facing Volt and this appears to be an average project.

In my opinion.

Oliver.