Ann: High Grade Assays 2.5km along strike from Resource, page-8

Hi DamoB,

Good question and I've sought some advice on this.

Normally more than 200m depth with an ore body about 50m South of the fault means underground not open pit which would increase the mining cost but not the processing cost (due to less contamination). i.e. between $10 and $50/ton more expensive.

However, this deposit looks suitable for bulk cave techniques which wouldn't be much different from open pit costs.

That being said we have to come back to mgmt's ability to deliver realistic production cost estimates. As has been written about previously, mgmt's one attempt at doing this resulted in the highest cost for open pit mining in the developed world! (i.e. in the PEA 2017)). In fact, underground mining costs are significantly less than the open pit costs in this PEA!

Hopefully, current mgmt won't be still involved when it comes to mining Walford Creek?