Ann: Quarterly Activities Report, page-163

If ANW realise the potential they will comfortably go past MLX as the number number one tin producer on the ASX in my opinion.

▪ Taronga is the 5th largest undeveloped tin reserve1, globally, based on 2013 JORC resource of 58,000 tonnes of contained tin, plus 26,000 tonnes of contained tin and 4.4 Moz of silver, plus potential for tungsten, molybdenum and rubidium

And then this is what we will look forward to beyond the planned 9 year Life Of Mine and Toronga.

▪ Taronga deposit continues at depth with potential depth extension below current pit design. Historic drilling indicates higher grade as depth, including 2M @ 1.0%Sn from 351m and 1m @ 2.6%Sn from 169m4

▪ Highly prospective and proven field with approx. 88,000 tonnes of historic tin production. ANW holds a dominant position of approx. 450km2 encompassing the mineralised Grampian Corridor and contact of the Mole Granite. Exploration licences prospective for tin, copper, silver, lithium, tungsten, molybdenum and rubidium

▪ Current exploration directed to extending Taronga operation without committing significant expenditure when nine years LOM already identified− Life of Mine Extension targets that include large scale deposits, similar to ore larger than Taronga and that could extend the life of the operation, and includes most advanced McDonaldsMcDonalds Geochem/ geophysics footprint (2,300m x 500m) larger than Taronga, 2015 drilling (4m @ 0.64%Sn from 48m and 5m @ 0.58%Sn from 12m)1 potentially higher grade than Taronga

High grade supplementary targets that include historic high grade mines too small to justify their own plant, but which could be treated at Taronga, and includes most advanced Dutchman / HartsDutchman / Harts historic production 60,000t at 3.5%Sn with previous work estimating remaining potential production of 135,000 tonnes at 2.5%Sn2

And not to forget the potential to extend the current 2 year Life of Mine at Granville (which has already achieved better grades than what renison achieved last year) with potential extension of mineralisation at depth at current pit and opportunities to exploit other regional tin deposits both within and/or outside current mining lease.