Ann: Exploration Update, page-38

Midnight,

Yes I am a mining engineer. So what?... the company's path forward should clear to all...….

Trial mining is not exceptional - it is a common prudent pathway for geologically complex projects.. However it does not usually make any money. It makes revenue if there is a processing end point to recover and sell the metals, but the fixed costs are usually so high that there is no profit. Imagine the cost of setting up infrastructure for the management, mobilising equipment, mining contractor, setting up contracts, management team, accommodation/offices/workshops, haulage of ore, offsite processing costs. There are zero economies of scale. This is a technical exercise designed to increase geological knowledge - and the prospect of making genuine cash flow is slim. Posters here can say what they like, but for me there will be no positive cashflow from it. You will probably come back at me suggesting that the grades will be so high da da da… but save it, I don't buy it.

Given the company's status, I think its references to the small scale mining project in the presentation are somewhat aspirational given they have not even started trial mining. I would guess these statements are designed to appease investors pushing it to make progress, and you will see significant slippage in this whole "plan" as time rolls along. BBX wouldn't be the first to do this.

You cant build a mine if you don't have a mine plan. And that doesn't appear very evident right now in the info in the public arena, other than the trial mining.

Only a phone call to the company would see what they are really thinking and really doing. And that's for me to do if I want to go any further.

Yes. I'll leave you alone.

Gosouth