Ann: Corrected Presentation at Euroz 2017 Rottnest Conference, page-3

Hi TagH,

Been feeling in an expansive mood today and so took your comment as an excuse for a bit of geo-poetry.

A lot more drilling to be done.

The stacked nature of the Bibra deposit has always fascinated me and I look forward to it being more fully defined at the existing deposits and probably in the wider area.

Some annotations on the section give some idea of the potential if good results happen in the western hanging wall lodes.



If the Portrush and Easkey trends are significant then taking the pit deeper to say 300 or more meters becomes more feasible. Just how deep depends on how many and how good the stacked hanging wall lodes are.

Note the high grade zones within the Main Footwall Lode are patchy along strike - that is they are in shoots rather than one sheet of uniform grade. This variability will impact in some ways down the track with the feasibility of any deeper open pitting IMO.

Lowish grades continue to be an issue to the west but thicknesses are reasonable.

The grade and stacked lenses make comparison to Tropicana tenuous but similar continuity is present at Bibra as is the potential for underground development. Unless higher grade zones are found at Bibra it will have to make up the difference to Tropicana in volume from stacked lower grade lenses and/or ease of Metallurgy etc. Not that it is a competition and both can probably be/are profitable mines.

Personally I like the potential of the southern corridor, where sparse drilling hints at significant possible southern extensions of the Main Footwall Lode etc., over the hanging wall stacked lodes (Portrush etc) which may be a little too small to carry a deeper pit.

With a high POG there may ultimately be a very large pit with some UG activity at Bibra, perhaps UG at Francopan and developments elsewhere on the Karlawinda property.

BHPB clawback???? Long way off

GLTAH DYOR.