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HERA NYMAGEE STAGE 1- HERA DFS HIGHLIGHTS



 Hera DFS confirms a financially & technically robust project producing gold-silver dor? and a bulk lead-zinc concentrate

 Greater than $510 million revenue generated in Stage 1 based on A$1,450 gold price

 A C1 operating cost of A$395 per ounce (after Pb-Zn credits)

 Average annual production exceeds 50,000 Au Eq. ounces over life of mine

 Maiden Ore Reserve of 423,471 Au Eq. ounces at average grade of 7g/t Au Eq.

 Minimum 7.3 year mine life

 Production of over 390,000 ounces (gold equivalent)

 Life of Mine gold recovery of 94%

 Pre-production capital expenditure of $73.5m

 Net Operating Profit (pre-tax) of :

o $95 million ($A1,450 gold price)

o $152 million (A$1,750 gold price)

 Modular plant design capable of expansion to treat Nymagee ore in Stage 2

 Aggressive drilling at Nymagee moving to a maiden Nymagee Resource in 4Q 2011 to enable commencement of Stage 2 mining & processing studies


And that is only stage 1.