Ann: Stage 1 Funding Update Presentation, page-32

- offer closes on the 7th may
- quarterly production report due way before then.
- What do you get including the recent reserves increase and stockpile use for this quarter ?
- I think production may increase with AISC around $1,600 -$1,700 and 14K production. ok.
- who really cares. It is the future we are looking at..
- I looked at source of funds and I think stage one will progress without Mercuria financing.
- Stage two studies and drilling would be significantly reduced without it.
- We also need the gold price above $2,350 AUD to really get finance for the future, as that is what reserves are based on.
- I think we will hit this $AUD POG $2,350 as the chart states.
-The more Bitcion goes down and to a lesser extent the S&P 500 the more $AUD POG rises.
- The time has come.