General Discussion, page-152

was alerted to AKM recently had an opportunity to go over
the revised PFS and FEED documents this weekend and I have some questions that hopefully can get answered here .

1) there seems to be a huge disconnect in CAPEX forecasts from the PFS roughly $93 million to the FEED $17.7 million am I missing something here ?
2) the haul road is separate to the project Capex and by the largest outlay in Capex they state that they will roll the road for 3rd parties but don't state how are there any costings on A) the toll charges and B) projections on tolling revenue ?
3) there doesn't seem to be any plan for funding the Capex , where/who/how do they plan to get the CAPEX for A) the haul road B) the mine and operations ? Are they going to equity raise , debt , government funding ? Do they hold 100% of the project or is the Mongolian government holding its usual 20% stake ?
4) it seems odd that there is a FEED released but no DFS usually I find it's the other way around ? in addition the PFS was released in 2019 putting Covid aside 2.5 years what has happened to the other 2.5 years with regards to the DFS is there a reason why the DFS is being delayed ?

Anyway thanking you in advance for any answered questions.

Warmest Regards TT