Ann: Significant intersections at Kempfield including Cu and Au, page-36

Hey, thought you might find this interesting?

• A significant slab of the entire Trunkey Creek mining area is within Argent’s Kempfield tenement group (see link below).
• It was a historic mining area with gold grades to e.g. 24.8 g/t Au (see p. 21 in link below)
• Mining stopped at those grades because of technical problems they were unable to deal with in those days with water ingress. Today the industry has far better technology, both in terms of being able to seal mine shafts from water ingress, as well as the pumps to de-water mines
• Potentially very nice Au feedstock for Kempfield

See pages 21 and 22:

http://www.asx.com.au/asxpdf/20130301/pdf/42dd5wdv39spyb.pdf


Also p. 16 of that presentation is a nice reminder of the leverage inherent within the existing deposit.
Even at AUD/USD 0.75 in AUD terms silver is already >$21/oz.
But that equation was based on initial capex of $67 million, so if we are able to get the capex costs down to around half of the above, together with opex, the point at which the upswing commences becomes less than A$30/oz.

Add gold to the mix at increased prices, and happy days…