Hi tjsol,In past anns, the company has stated it is targeting...

Hi tjsol,

In past anns, the company has stated it is targeting “+8g/t”. Furthermore in the most recent Ann, the company states the following:

”The results of the recent drilling program that returned spectacular high grade gold assay results (refer ASX Announcement of 14 January 2019) are being incorporated into the existing resource model with final ore block definition to establish key mining areas near completion. Numerous and consistent high-grade intersections were encountered in the recent drilling program with several intersections exceeding 100 g/t gold and grades of up to 564 g/t gold.”

I think it is most likely the 6.01g/t figure (high grade sub-set) will increase. But until then happy to use the 6.01g/t figure.

6.01g/t - 3.5gt = 2.51g/t x 60% = 1.506g/t

1.506g/t x 100,000t = 150,600grams = 5,312oz

5,312oz x AUD1850 = $9,827,200

Black jack plant recovery rate = 90-95%

Therefore,

$9,827,200 x 92.5% = $9,090,160