Ann: UPDATE TO ASX RELEASE ON MORILA RESOURCE, page-32

Here is an ultra conservative view on things done very quickly. Lets do a NPV model and completely ignore the tailings and satellite pits which will make this much more attractive. Lets use a discount rate of 15% because its africa and ignore for a second that the mine have been operating for 20 years through numerous government transitions. And most importantly lets ignore the Lithium for the time being.

If a published NPV is lower then these ultra conservative numbers I will eat my hat.