Ann: Trading Halt, page-23

The announcement clearly states that it is an update.. If it included all of the excluded information then it would no longer be an update and would essentially be the PFS itself..

I presume this update was to keep the market informed on work done to date whilst demonstrating that drastic improvements that have been made across the board when compared to the previous SS.

OPEX figure shown clearly demonstrates the viability of the vat leaching route < 1/3rd of total revenues which shows strong margins with further optimisation work pending.. Mining costs as we know only make up a fraction of overall operating costs, this is especially true in KRR's case given the flat lying nature of our deposit and extremely low stripping ratio.

The 2012 SS shows that mining costs were $2.77 per tonne and I wouldn't expect much of a different figure in today's terms.