Ann: Review of Corporate Strategy and Board Restructuring, page-31

Hopefully current raise is enough to get us through to arbitration results and these results are favourable and we have plenty of cash to deliver LD and NS whilst progressing the exploration of the copper projects.

If they aren't, project divestment of a percentage of our interest in either LD or NS isn't necessarily a bad thing dependent on what we negotiate for the percentage we give away.

Would we take say $USD 10M for selling 50% of our interest in LD (so we still get US $89M from it over 8-9 yrs plus possible upside if we go underground) if this meant we didn't need to sell a stake in NS and we could push harder on copper exploration? It wouldn't be the worst outcome.