cost of feasibility study, page-10

Hey Lay,

As l understand LCY has to get the project to prefeasibility. Now from my knowledge the project is in that state when there is an indicated resource category.

They're not obliged to commence or complete the PFS document. Just to get the resource to a stage where a PFS study can commence.

Small explorers can't take an inferred resource to the bank. So this project stage opens up more options for project funding because of the greater certainty associated with the resource.

As for what goes into a PFS I'm afraid l have more to find out.

What l do know is that the commencement of the PFS will be accompanied by further drilling. They'll use the additional data to feed the financial models n the PFS.

Will follow up ( on what l don't know ) for you next week when Mike returns and let you know what I've learnt.

Cheers
Mo