Ann: RM Research Report - Retraction of Statements, page-17

this is a quote from the company web site.

http://www.hardeyresources.com.au/projects/burraga-project

"As a result of mining at the Lloyds Mine, and to a lessor extent at nearby mines, there now exists a tailings dump and two slag dumps of up to 350 Kt. The tailings resource contains a drill proven 234Kt @ 1.2% Cu. Metallurgical testing of the tailings confirms a greater than 70% recovery rate from processing of the tailings. The scoping study commissioned assesses the commercial potential of reprocessing the tailings, slag and minor hard rock resources from the surface of Lloyds Mine, and concludes that such a project, subject to further testing and financial investigation, is financially and commercially viable with start-up capital expenditure estimated at $10.8 million, generating a net profit of $75 million over 4.4 years of operation"

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