You simply can't defend that... Under promise and over deliver...

You simply can't defend that... Under promise and over deliver gets sticky investors in. AW1 have the money now so it's a matter of them fulfilling the next requirements, oppies money not so important in the scheme of things when you weigh up the magnitude of booking that increase in resource.

Even before the PEA cancellation Dave said in an interview "it's about setting up for next year" and 14May24 gave clear indication that next year would be included in the PEA. The finance includes a resource upgrade to get the next level of funding.

Put them all together and the focus is firmly on Resource Upgrade. The market is well aware of the doubling so it won't be surprised when that occurs, and Dave has even mentioned 50kt. It'll be good news for AW1 but mightn't excite the market as some thin, exploration success does that and that's not their primary focus this year.

RUI conf 7May24 DaveO’Neill; “if we can hopefully double this thing in the next year ortwo then that’s the project we want to permit”

This is a hold until drilling results of 2025 are in...