Ann: Commencement of Mining , page-22

Tango some research on your behalf would have answered your questions. But anyway here you go...

- "The recoveries for this heap leach operation seem rather low and using grades of below 1g/t. No credits as well. Costs per oz would be pretty high"

Taken fron Nex announcements "Phase 1 is a Laterite Dump Leach. The ore is on the surface, has no waste overburden,
and has displayed excellent metallurgical characteristics for Dump Leach gold extraction in rigorous testwork by Nex Metals" and "the ore is a typical 'friable goldfields iron laterite' on the surface with no waste to remove prior to mining the ore stripping ratio which will be, once blasted, very cheap to mine".

- "CIL would work but that would require quite a bit of capital"

A figure of approx $10m required for refurbishment of mill mentioned at AGM

- "At this point... i think NEX is stuck until somebody fronts up the cash"

Mention made at the AGM that Nex is very close to signing off on a deal for the finance

- "Toll treatment should bring in 6m+ but will probably be burned by the end of the year"

Yes probably but at that stage they should have the mill up and running and the heap leach well on the way to being completed.

- "Market cap 10m for their assets but no future imo... just burning investor money. Best hope is a takeover"

No future ??? They are going to producing gold this year !!

Just my thoughts - DYOR !!!