Ann: Southern Nights Returns High Grade Infill Results, page-61

The best scenario is a resource calculation for Southern Nights and then a PFS for an open cut and truck option. With the anticipated grades at SN I would expect this to be profitable and a cash generator. This is what they need but the long lead times for studies and approvals may see this 3 years away. The Silver Ray lens at MB could be brought into production sooner with a couple of different scenarios including open cut then decline into MB. I am excited by these opportunities but PEX needs a production mentality to compliment the exploration config and I don't see that happening with the current crew.