exco immediate future, page-9

You need to consider cash flows coming in too tewbs in order to make a fair assessment. Yes, WD extensions will be at a higher cost, but they will still generate greater in flows.

The great Australia royalty will fund exploration going forward. We then can generate short term cash flows from Mt Colin, Kangaroo Rat, and then Pumpkin Gully.

The management of this company are not stupid. They are not prone to throwing cash away. They are being conservative and careful in their exploration strategy and will not squander their cash position.

We are in a unique position.