Ann: Simberi Operations under strategic review, page-8

Precursor to some hefty overdue material write downs imo- moreover a write downs to multi year production forecasts- and adjustments to reserve if simberi and Atlantic are c and m or sold off

Can see it now

- Sbm announces that following a major strategic review the following wrote downs for simberi and Atlantic totaling X was required-

but don’t worry it’s non cash

as we spent the money previously -

material cost and capital increases- Covid- supply chain- delays in permitting are the reasons - but nothing to do with overpaying, continually holding out for better production and costs in line with an excel spreadsheets

But if you give us more money we will develop our Lenora again but Just in a different way , which will produce more in the future at a lower cost