Ann: Trading Halt, page-37

The company has flagged upgrade potential previously. From the website:

“The Forrestania Gold Project contains an existing Mineral Resource of 5.9 Mt at 1.25 g/t for 240,000 ounces of gold, classified and reported in accordance with the JORC Code (2012), with a recent Scoping Study (see ASX Announcement released 2nd May 2017) suggesting both the technical and financial viability of the project. “

Highlights

• Binding agreement signed for 80% of the Gold Rights at Forrestania Gold Project.
• Existing ~216K ounce JORC Resource with strong exploration upside.
• Scope for high grade open pit mining – previous mining produced 95,865 tonnes @ 8.81g/t for 27,146 oz Au.
• 450km² tenement package covers over 50km strike length of the Forrestania greenstone belt
• High gravity gold recovery with free-milling gold – non-refractory ore.
• Existing resources are amenable to conventional open pit mining.
• Low capital costs via processing through local toll treatment facilities – advanced discussions underway.
• Located in one of Australia’s most prominent regions for gold mining.
• Value accretive asset with early production opportunity.