PFS Metrics, page-27

would they pivot into setting up a floatation plant at mt magnet? its a long shot, no one else has done it successfully.

Converting a standard CIL plant to process refractory ore has been done successfully many times including at Youanmi.

Following the completion of oxide ore treatment, a decline was developed during 1993 to support underground mining and processing via a 220,000tpa sulphide flotation and bio-oxidation circuit constructed in 1994. The existing oxide circuit was retained for comminution and CIP treatment.

Note that RMS begins a Mt Magnet plant review in December this year.

Irrespective of whether RMS need Youanmi to plug a gap in Mt Magnet Hub production Zep is not going to pass up the chance to get a million oz resource @ 5 g/t.

RMS could mine Youanmi using the infrastructure already at their nearby Penny mining camp plus the Rox infrastructure and make huge Capex savings.

The Rox PFS is due very soon and RMS will be crunching the numbers.

Assuming that the PFS metrics are similar to those in Rox presentations there is a very high chance of a TO bid from Ramelius imo.