Ann: Resource Upside Opportunities and Exploration Target, page-2

Big news for mine life potential. No wonder the Chairman said he was ignoring remnant mining myth. I think this shows people why Paulsens is a cracking cash cow asset. BC8 will mine a lot more gold than is in the study. This means it will out perform. These targets are based around JORC estimates, they are not some wild guess, as the ASX wont let you announce that sort of thing. BC8 is run by underground mining experts. We can see what this asset can do in the right hands.
Remember, this is just one of their assets. Coyote is looking even higher grade with lower costs.

Paulsens Current resource is 406k @ 9.5g/t
Every zone remains open of course.

New Targets
Near Mine target is 250-500k @ 7-12g/t

Regional Target is 1,000,000 - 2,000,000 0z @ 5-10g/t.

Break this down -
A base case looks like - 400k + 250k + 1,000,000 = 1,650,000 oz of high grade.
A best case target at the moment 400k + 500k + 2,0000,000 = 2,900,000 0z of high grade.

Convert about half the resource to minable ore to stay conservative.
Paulsens looks like it could have 10-20 years mine life at 40-50k pa. Paulsens once produced 100k in one year. If the open pits really continue to open up, then Paulsens could produce well above their current study number.


How is this for a tasty target!

• Big Sarah comprises historical workings to the south-east of Paulsens and represents a similar opportunity to
Paulsens. Big Sarah has never been drilled, and was in production pre-WWII, producing 220oz @ 52.6g/t Au
(compared with ~840oz @ 9.5g/t Au at Paulsens during the same time period).


Once the funding hits, i am personally expecting BC8 to triple into production as the model of turning on the next asset slaps the market in the face. DYOR.