questions, page-21

Hi Chelks,
This is part of my understanding of the interview.
Mike talks about there being 10 - 12 Mt of low grade ore which is currently designated as waste.
Some people ask why they don't just sell the low grade ore... "if we were to sell a 54% product, say, we'd have to use a CFR52 price... "
So, the 10-12Mt of low grade is at 54%. They have done a little testing on some low 50's ore and with a little bit of screening they can get that to a BBSO product. There is a bit of ore lost in the recovery. Therefore, within the current pit design, (10-12Mt waste) - (recovery) = BBSO.
Depending on how much is lost in the benefication that could add a couple of years to mine life.

My thoughts and, maybe, mine alone.