Ann: Reward Gold Mine Project Update, page-28

just some rough estimates and basic calculations to estimate what we may make before end of year assuming underground production begins in July. These estimates do not include the stockpiles which i have already estimated earlier in the vtx threads.

	Scenario	Payable Gold (oz)	Revenue (A$M)	AISC Cost (A$M)	Net Pre‐Tax Cash (A$M)
1	60% Throughput	16 331 oz	83.3	29.9	53.4
2	100% Throughput	27 210 oz	138.6	49.9	88.7

• Payable Gold

  • 60%: 33 000 t × 16.72 g/t = 551 760 g → 17 742 oz in situ × 92% = 16 331 oz

  • 100%: 55 000 t × 16.72 g/t = 919 600 g → 29 564 oz in situ × 92% = 27 210 oz

• Revenue

  • 60%: 16 331 oz × A$5 095.85 = A$83.3 M

  • 100%: 27 210 oz × A$5 095.85 = A$138.6 MAISC Cost

• • 60%: 16 331 oz × A$1 833 = A$29.9 M

  • 100%: 27 210 oz × A$1 833 = A$49.9 M

• Net Pre‐Tax Cash Flow = Revenue – AISC Cost