Ann: Quarterly Activities Report and Appendix 5B - 30 June 2021, page-129

The infill and step out drilling at korbel along with drilling at rpm was always planned. We have the flow sheet, so know how they intend to mine. Scoping study has been delayed because they are sitting on about 5000 to 10000m of drill cores with assays pending. For the sake of a few months, whats the point of realising a half assed ss? Wait till the resource upgrade is announced, then the ss will be a better reflection of the project and lead straight to pfs

Yes, if we pick up the average grade, it will be excellent, but remember, it is an open pitt mine, everything gets dug up, hence the low cut off grade and utilisation of ore sorters. Essentially, the bigger the resource, even if low grade, we can extract that gold at very little additional cost. If they can make what they are proposing work, it will be very profitable. Flow sheet is a bit different to whats being done at the moment, so there may be some skepitisim. I think the game plan is to get a cash injection from snow lake, buy excavators and ore sorters, start a small starter pitt, prove the flow sheet works, watch the gold price and share price rise, sell a 1/2 share to a gold major, then go to full production.

it's easy to write, but tje wheels turn slowly, i envisage this will take about 5 years.

anyone who has had to get planning approval for a house reno in sydney, dealing with council then engage contractors to do the work will appreciate that there are a lot of hurdles and hoops to jump and if team NVA can pull it off within 5 years, they have extremely well