Ann: Positive PFS for Admiral Bay Lead-Zinc-Silve, page-22

re: Ann: Positive PFS for Admiral Bay Lead-Zi... Geself is right, If Zn is $2lb in 2015, Kim and Co will look like geniuses. The success of BHP and RIO is primarily attributed to their strategic vision to develop the Pilbara 20 to 30 years ago when Iron Ore prices were 10% of what they are today.

I am all for KZL developing this project, but I think it is important that any JV arrangements see them free carried through the DFS. If they can achieve this with say a 20 to 30% dilution, it would be a huge vote of confidence for the project. This would effectively mitigate the development risks for a few years at least.