Davo,You mentioned refractory as a risk. Looking at previous...

Davo,

You mentioned refractory as a risk. Looking at previous announcements, AXM at least dont think this to be much of a risk partuicularly as it has been used previously at Wiluna.

'The ore that we are feeding into this plant is refractory ore – gold that’s locked up in
sulphides - and the BIOX® technology liberates the gold by using micro-organisms.
BIOX® technology has been used for many years, and in fact it was used at Wiluna for 15
years. It’s not new technology and it’s used in other projects in the world, including
Ashanti’s gold project in Ghana. We see few risks associated with the process. It’s
important to note that the implementation study also verified the integrity of the BIOX®
plant at Wiluna.'