Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-32

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Edmorgrimm

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11/10/24

17:59

Post #: 76086395
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Originally posted by WayneL58: ↑

I asked a question to Amanda about when the Sb will be included in the MRE and the impact to AISC. It will be a quite a while for Sb to be included in the MRE due to more drilling requirements. But the AU/Sb equivalent is striking at 1 + 1 = g/t. Amanda also seemed frustrated with the lack of shareholder interest. Previous thread comments explain her situation. There is an upside to production costs as it is basically in waste rock.

Amanda's response: -
We will not be in a position to update the MRE to include Sb until we carry out further drilling. I don't believe we have enough drilling yet to do it. I have seen some poor Inferred Resources using suboptimal drillhole density. We will start by assaying any old pulps we find (exhibiting Sb via pXRF), then move to putting out an Exploration Target for the Sb (our data driven estimate for the min and max Sb Resource), then when we next drill Ricciardo we will design the holes for optimal Au & Sb results. At the moment, and I preface this by saying I am NOT a mining engineer, the Sb seems to sit spatially above the gold (especially at Ardmore) and in what was going to be the waste rock, so we would potentially be making money from rock we needed to remove to get to the gold anyway. Apply all disclaimers there. We need to determine the optimal processing pathway for the gold (almost done) and the Sb (underway) and see how it all fits together. The AuEq is a crude but useful way to think about the add on for Sb. 1 g/t Au + 1% Sb = ~ 3 g/t Au. Sb (as far as I know) needs a float circuit. There are two in our immediate neighbourhood. We will only pursue the Sb in addition to the gold if it make $$ sense. Lots to unpack and investigate. Exciting at this stage. If I allowed the daily share price to dictate my mood or enthusiasm I would not be doing this Project (or my team) justice at all. I focus on what I can control. I know Golden Range is exceptional. Poor share price performance days only strengthen my resolve to make this absolutely massive. Yesterday I had the pleasure of meeting 3 new WA8 shareholders at the AMEC event in Perth (where I presented the WA8 story) and today I really enjoyed catching up in person with our top 2 shareholders, both astute business people with excellent insight and experience. Lots of exciting milestones ahead for us.

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Yep brilliant Wayne, thank you for sharing that. I've get a great feeling from AB; she's knowledgeable, enthusiastic, professional, pragmatic, and driven. What more could you ask for in an MD?

Have a great weekend all.

WA8 Price at posting: 5.7¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-32

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