BROKER'S REPORT BELL POTTER- HEMI CONTINUES TO IMPRESS, page-11

Hey mate, I will be honest and say that I would only be guessing.
If we consider that Glen wanted 12m oz from this round of funding?
We know that we already had an inventory of 2.2m oz.
That suggests that they want 10m more from current funding.
Now if we look at some of the surprise elements like strike extensions and higher than expected grade within the infill drilling that is also very shallow, I would suggest that Bell Potter is on the conservative side of the equation, which could be better for their reputation.
I expect there will be different estimates from all different entities doing their own resource models.
I think with what has been unfolding as we have been drilling, the resource est should be on the higher side of original expectations.
I am very comfortable with how this is progressing and it has certainly surprised me in a positive way.
I am also comfortable saying that I expect Bell Potters numbers to be proven too low.
Hope that helps.
Kind regards, Wack.