Ann: Positive PFS for Admiral Bay Lead-Zinc-Silve, page-11

re: Ann: Positive PFS for Admiral Bay Lead-Zi... I have been involved in a number of PFS and BFS (not large projects - approx $150 to $200m), but what occured in the projects is that when you go from PFS to BFS, the capital cost went up by approx 30%. Will this happen? Who knows? What is the probability of it occuring? High

For any project of this size, the "show me the money" is the critical question. How it is funded is as important as a good NPV.

I wish KZL holders well.

HT1