Ann: Updated Exploration target for the Never Never Gold Deposit, page-19

Well stated. It is very obvious based on where they are now, and plan to drill at Sly Fox, 4P and WW they realise they do not have a good understanding of the orebody in those deposits. No idea why some posters want them to start production without a proper understanding of the full orebody - if they did it may be just another disaster to add to your list.

BTW the NN ET was within my guesstimate of 1.5- 2m Oz so I am happy. I expected they might do an ET for the rest of the deposits but thinking about it more it is obvious they want to do more drilling to better understand what they may have especially at SF and in between 4P and NN.

The high grade of 5.8 - 6.9g/t really caught my eye given the current MRE is 5.74g/t with the prior one being 5.85g/t. They must be assuming the very high grade underground resource continues below the current MRE which makes sense given recent assay results.

Will the broker that estimated NN at 1.5m Oz now revise their SP target up from 90c? My own speculation is that the MRE will come in at the higher end of the ET.