Ann: West Musgrave Project PFS Update, page-40

He's put it a different way to me but we are in furious agreement. I say any extra recovery goes straight to the bottom line. You pay the cost to mine the ore just get more out of it.

As an ex- metallurgist I can tell you I don't like seeing recoveries say sub 80% (prefer 90%+). [Mine manager would be kicking my backside]. Turning it around, psychologically seeing that extra recovery or recovery getting to more normal levels, OZL will feel much happier/relived that they've got a 'proper' project.

Separately as a wrinkle. It's easier to get a higher recovery from high grade materiel as any lost in the tail's has a more minor impact. A point alluded to in the release and by excluding the violarite were targeting.

e.g. if you have 0.01 g/t Au tail form a 1 g/t Au feed grade it's around 90% recovery but from a 2.5 g/t Au feed is probably around 95%. Sorry to go all technical on you but readers may be idly interested, no less so than on Salpetie's (excellent exploration) geology.