Ann: Presentation to Australian Gold Conference, page-4

I think HCH are at 0.6% CuEq.

ALK are around 0.4% CuEq. So we need to move higher up on grade or find lot more than we already have.
It looks ALK will have well over 20Moz AuEq but I think will need to top up 30Moz AuEq to attract the real giants.

But finding higher grades is the ultimate goal here. If ALK can find decent higher grade zone there is plenty of lower grade to add and make this resource well over 45Moz AuEq.

As I said before, current grade is good enough to be mined at a profit but for ALK to attract solid bids they will need to push the average grade above 0.56g/t AuEq and preferably above 0.6g/t AuEq.

But there is no need to match Cadia as few have stated. There may not be another Cadia every again. And if there are more Cadias out there then they are not going to be discovered easily.