Ann: Quarterly Activities Report, page-36

Yes, reducing costs is always good, but cost cutting is not something Peter Kerr mentioned in his most recent video presentation.

In contrast Peter often refers to the KI team as lean and keen.

Last week Peter stated adding market value that would be reflected in the SP to Koolan Island.
Peter spoke of taking main pit to the next 150 to 20O metres and mining the satellites.
(it took the last 20 years to go from 40m below sea level to 125 metres below sea level).

Compared to GRR we operate with half the crew, yet produce circa double the tonnage.

Compared to FEX we both have identical FOB cost, despite FEX having to truck hundreds of kilometres. But here the difference is due to the complex nature of mining below sea level at KI.