Is this the ASX's cheapest gold developer?, page-143

According to management. This is not correct.

Mt. Joel is very promising but more drilling is needed before it can be incorporated into any mine plan.

The upcoming BFS will not include any Mt. Joel ounces and it will only focus on Stage 1.

Stage 2 will be very profitable at higher gold prices A$1900+ and offers great optionality

on higher gold prices but now the focus is on Stage 1 BFS, financing and moving to production

with ore from Orelia and Julius.

Hope that helps.

Good luck to all of us.