Ann: Parks Reef Resources grow 54% to 1.14 million ounces, page-3

6.9km out of possible 15km (46% of total strike) tested for Inferred Resource of 23Mt @ 1.3 g/t Au-eq (at today's PGE+Au prices).

PGE recoveries are major issue in determining future economics (70-80% in bedrock) and mining approvals will be challenging in this region.

Global exploration target is ~50Mt @ 1.3 g/t Au-eq to 100m depth (2.1 Moz Au-eq) with strip ratio likely to restrict open cut mining reserves to <80m depth.

Copper "resource" and 200m deep exploration targets are furphies.

Will stay in the ground for another 25 years me-thinks.

P