Ann: Riley Mine - Update Following Completion of First Shipment, page-392

Firstly, we now own out right all our plant and equipment, which now gives us tax depreciation credits..... So, we should start getting some rebate... Shipping costs may have trebled, but that’s not to say we payed Triple....... Secondly, shipping costs were about $1ml.....Transport Wages, Port charges, we’re about $900k, Royalties 5% I think = $250k....So, my understanding is we will have at least $2.95ml credit.....Our quarterly costs, we have now reduce......We should just have Drilling at Mt.Lindsey at approximately $40k per hole, EM's at Kulin about $300k, drilling completed at NGG. So I think we have plenty of funds available......Once, all associated other then Lindsey are done, I'd expect over $8 ml left in the kitty.....We will also, have a loan facility still available..... As for ongoing costs at Riley the current manager is working on optimising the costs......In other words he’s being paid to do his job....So, there is no extra costs there..... Also, we only have minimum staff at Riley not 100, majority are contractors that can be released at any time.....HC allowed you to estimate your costs and Charges, but Moderated (Charlieinvest) from doing the same.....Obviously, we have DH's running H.C