Ann: OUTSTANDING TEST RESULTS , page-7

Ausheds,

TREO recovery in Wet concentrate is 68%, ie 32% of TREO mined has been rejected to Tailings.

Then 68% of the TREO you mined reports to the dry concentrator where 77% of it is recovered. Therefore of the TREO you initially feed into the Wet concentrator 77% of 68 reports to saleable product ie 52.36% of the TREO you mined is saleable.

Now in the real world of concentrators some of the stuff rejected in the dry plant will not be completely rejected to tailings - it will be recycled back somewhere in the plant for another chance or whatever, there's plenty of things can be done - but it all adds to treatment costs.

My point is that rejecting half of your mined value is not an outstanding result and doesn't leave a lot of adjectives left to describe any improvement in recovery toward vaguely acceptable levels. I don't care if it's CREO, Pt, Au or whatever - if it costs more to dig, treat, transport and market than you get back from your customer then you go broke.

I still think the numbers are very questionable and MAJOR improvements need to be made in recovery. I will happily throw my money at this if I can be convinced that they'll make a quid.

I'm not anywhere closer to that point yet.