Ann: Exploration Update, page-50

So your conclusion is that there's a considerable timeframe to go before any commercial production occurs because the extraction method we are using to determine the gold content is too slow? Wow. Unbelievable.

You're getting there but it's probably a waste of time and my enthusiasm is fading fast. The pilot plant and commercial production are two different things in case you've got them mixed up.

1. We are developing an assay technique for rapid sample turnover to determine the gold content. The extraction method is a workaround until we have an assay method.

2. (You'll struggle with this one) We're mining anyway. The drilling and the JORC is primarily for regulatory purposes although as production ramps up it will serve a greater purpose.

A tiny pit at Ema and Tres Estados 40m x 30m x 15m gives us about 100,000t which is our permitted annual production. BBX has stated that commercial production is happening next year. We don't need all the studies and other stuff you'll find in a uni textbook to commence commercial production because the grades are off the charts and so far 100% of the dolerite rockmass in the areas tested hosts high grade mineralisation.