Ann: Adidi-Kanga Gold Project Acquisition and Update, page-101

Ok,

Assumptions:

1Mtpa
6.6g/t headgrade
90% recoveries.

You have 1,000,000 x 6.6/31.1 x 90% = 190kozpa

Now let's assume:

AISC at $1,200 (bad)
AISC at $1,000 (ok)
AISC at $800 (good)

Sale price = $1,300

= Revenue of $19m, $57m and $95m respectively or A$27m, $82m, $136m using fx of 70c

Then take tax etc out of that aswell.

It's why we have been saying for ages size of the resource is only a piece of the puzzle. If AISC is $1,200 project is marginal right now, like really marginal. If AISC is $800 it's a cash machine.

It's the key piece of the puzzle for me.