We need resource upgrade, page-7

Hi Mjr,
The company has to convince the market that the Hera mine has something in it or the shareholder; not just a means of paying off debt. The company can demonstrate this by:
-extending Hera mine life considerably and sooner rather than later
-reducing AISC and paying off debt ASAP.
-better information flow.(this has improved abit recently)

The roll over of the concentrate sales from Sept to Oct made Sept very ordinary & Dec Qtr look good.
The recent anns might indicate a "play it again Sam" in that the second shipment concentrate revenue
(due at the end of Mar) will likely roll over into April. This, IMO, will adversely impact on March's
revenue & margin as it did last September.

Although I'm quite bullish on base metals, I have some concern about the Fed & Trump effects on the POG

For these reasons, I'll do watchful waiting until the upgrade of resources and until the US situation stabilises

Repayment of $90 odd mil debt could take 4.5 years and I'd like to see at least another 2 years LOM
with potential for twice that.
Cheers
MM