Ann: Restart Study Repositions Finniss Operations, page-32

One of the decisions Core will need to make is whether the next ore sequence remains Grants then BP33.

• If you go Grants & Plant/Site there's $65-80m of capex before producing Grants UG ore, but the plan for BP33 needs to be sorted because there's only a year's production coming from Grants before BP33 needs to be online and the package needed remains $175-200m
• If you go BP33 & Plant/Site there's $135-150m of capex before producing ore, but given the life span of BP33, the $40-50m for Grants could be deferred for years and well beyond the restart window. This would mean the total pre-production capital cost drops further to $135-$150m

This sequencing decision doesn't need to be made today, but it provides an option to reduce restart capex to $150m or less.