Ann: Annual Resource and Reserve Statement Update, page-5

Annual Resource and Reserve Statement Update - 4 Dec 2018:

"Due to budget constraints (resulting from the Tucano Plant Upgrade and change in mining contractor) and changes in management earlier in the year, Beadell has undertaken insufficient drilling to add to its mineral resources and ore reserves estimates in 2018"

Drilling results announced 21 May 2018 - Appendix Section1:

"The data spacing and distribution is sufficient to demonstrate spatial and grade continuity of the mineralised domains to support the definition of Inferred, Indicated and Measured Mineral resources under the 2012 JORC code."

These two statements appear to be contradictory.