Ann: Outstanding value demonstrated by PFS at Lady Julie Project, page-5

I looked at the feasibility study , I can not see how the CAPEX on a 1.8mtpa CIL plant comes in at less than $60M , there has to be labour build cost on top of that and should be shown as a CAPEX expense also otherwise it is disingenuously optimistic from an IRR perspective , would be good to see from GRES what their costing would come in at .
the sub $4.20 a BCM cost seems very low compared with what the likes of CAI came up with for their Bulletin satellite pit which was closer to $18.50 a BCM . Especially strange Ore movement cost is the same as waste movement cost per BCM at 4.20 given a smaller excavator is used to excavate ore compared to waste so less efficient so cost should be higher .
The average strip ratio of near 14:1 is not a good look .
Using diesel as a fuel to make power at $0.60 per KWH just shows how uncompetitive the Australian mining industry has become , thought there was a gas pipeline to Laverton .