Ann: Progress Report, page-4

Well, this is good news, although this new understanding might push back the PFS release slightly. So not only are the grades quite a bit better, but the ore that can be run through a conventional plant will increase significantly due to decent recoveries from the top part of the primary (refractory). Combine this with the excellent infill drilling results (above Scoping study spec) and stage one of the mine plan is shaping up to be quite valuable. This should make financing easier.

A new Resource model and pit optimisation is currently being prepared by the Company’s consultants and will be available in early April 2017.