update, page-3

I like the figures presented in the new update,

Commercially viable

Higher IRR (conservative estimate of 27%) than WACC of 12.5%

Small scale mining to increase working capital initially while exploring for potential upside

If the targets stated can actually be converted to resources/reserves, then ATQ is still a monster to be

but my concern is:

how the h3ll did they get the CAPEX figure wrong in the first place?

And just how much of the 160-320mt target for Mbuyura/Mkapa & the 800mt target for ngaka field is actually there, given the last JORC update failed to deliver to expectation.

250mt resource is not bad for a 25m MC company, but the fact that the jorc upgrade was branded a major one & somehow created too high of expectation kinda back-fired.

I still have faith in the company's LT potential

but management needs to work on a few scratchy bits to restore investment community confidence.

I remember Tony is the know-how poster, maybe he can further clarify a few things for us and how well did the brokers/funds receive the message from the new updated presentation.