Ann: Consolidation of Financing Arrangements, page-25

hi shadowplay,

it is the throughput that is running above nameplate... they have processed lower grade ore in the initial phase... so once the grades increase so will the output... also, the recovery % usually starts lower and increases with gradual fine tuning and implementation of improvements (although of course not always)...

the pre feasibility indicated LOM head grade of 1.18%, from the record sales update the current head grade processed has been 0.93%... LOM head grade should improve 26.88%.... (this is off the PFS, haven't checked the head grade from the last resource upgrade... it did drop from the PFS as they lowered the cut off. Therefore, it will be less than 26.88% imrovement for LOM... haven't checked what they forecast the short term grades being mined to increase to...

gross recovery from the last update was actually pretty much on the PFS expressed average for the DMS (without fines).