Ann: Pause in Trade, page-11

Hi James, you don't seriously believe that Boorara will be significantly different from what it already is? apart from pushing it deeper, which is pointless. To date only ~100Koz has reported into a pit design, you will need to increase the grade by 50% to see that significantly change and drilling more holes at the bit that has already been drilled isn't going to change anything.

Boorara has never been able to support an operation, and never will IMO. 1g/t will not pay for mining let alone the cost to build a plant big enough to treat it.

IMO IRC will realise that MRP has dog assets and run a mile.

Tubber
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Yes it would have to be a pretty big plant at 1gpt, its going to lower the new (merged companies) overall average grade, it’s definitely better for MRP but not so good for IRC... However we have plenty of time to work out the metrics, and we can op out if things don’t crunch... if gold goes up over the next six months (with potentially the everything bubble popping) this could be a very good option. IMO