Ann: Updated Mineral Resource Estimate, page-5

The indicated resource has gone up from 7.5mt to 9.5mt at a similar very high grade so that is very good news. A 27% increase. The inferred resource remains a small portion of the total resource and is low grade, a bit lower than before. When it comes to the tonnes that will be used in the PFS, only measured and indicated resources can be used so that means the probable reserve for the PFS will be taken from the 9.5mt indicated resource. By comparison, in the scoping study, the deemed mineable portion of the resource was taken from both the indicated and inferred resources and amounted to 7.2mt for Rupice of which 0.9mt came from inferred resources. So, from a quick look, this significant increase in the indicated resource at a reasonably similar grade to the previous indicated resource should see a significant uplift in the NPV (in my opinion).