Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-16

Also just trying to understand how you arrived at:
VARIANCE from Yr1 Ilm Con% Ore Mined of -18.94% and;
VARIANCE from Yr1 Zir Con% Ore Mined of -15.60%?

I must be mistaken, but based on your chart from the BFS below the Yr1 Ilm Con% Ore Mined was forecast to be 4.5% and Yr1 Zir Con% Ore Mined was 1.2%.


When comparing to your calculated rates for Ilm at4.83% and Zir at 1.34% (which as per my previous post may be understated due to HMC stockpile issue) results in:

VARIANCE from Yr1 Ilm Con% Ore Mined of +7.33% (4.83-4.5)/4.5) and;
VARIANCE from Yr1 Zir Con% Ore Mined of +11.67% (1.34-1.2)/1.2)?

Can you please help me understand how your numbers have been calculated.

thx Axe