Ann: Notice required under ASX Listing Rule 3.13.1, page-25

No need to even think about ZAR:USD impacts; it's all laid out in the DFS.

This table clearly shows a depreciating ZAR:
1, Improves margins
2. Lowers CapEx/Peak Funding Requirements
3. Improves NPV/IRR
4. Lowers pay-back period.

Currently @ 19.34, just a smidgeon off ATH @ 19.73 and well above the assumed rate 17.50. So closer to 20.00 in the tables below...

XAUZAR @ 35,238; well above the assumed rate of the DFS (17.50*1850) and up 21.5%, year on year.



PS All these facts are the opposite to the ramblings of our very own George Costanza.