Ann: Noosa Mining Conference Presentation, page-20

Thanks VYR, a ripping effort on your part. Yes shame about the Marble Bar, I had been looking forward to it.

It’s your point 2 that is the most revealing info to come out of the conference regarding HGO. We had all hoped debt funding would be possible but we cannot keep delaying to keep extending mine lifer forever. At some point we will need to raise the rest if the mine life extension from the current drilling is not good enough.

I shake my head at the lenders, they must be w—kers given the small amount needed and the rising cu price trajectory and likely future cu demand. If cu retests it’s highs, surely that will be good enough.