Ann: MT Survey Completed at Burra- Drilling Target Identified, page-42

Shalom...its 12.30am in NYC and you are not asleep yet.

The potential is bluesky and its huge. As a comparison, Olympic Dam is said to have 500 years of resources. Even if Burra is smaller by 90%, that's still 50 years of resources to mine.

Certainly, AMG will never have the financial means to mine Burra especially the IOCG deposits. At best, they can go for the shallow targets. And yet that could be difficult, there are barely an infrastructure in the vicinity.

Drilling it will be an expensive & multiyear exercise. But luckily for AMG, they can potentially generate short term cash flow in the tens of millions within 12 months through the tenements in Cloncurry. Most have a mining lease and are ready to be mined. And the ore can be shipped to 3rd party processor so there is no capex involved beyond the expenditure to build the pit.

In a perfect world scenario, you would hope AMG start generating the short term cash flow from QLD, and using those funds to drill the hell out of Burra and establish a mega resources, and then JV or sell it off to one of the mining majors. That will create the most value for shareholders.