"LEONORA DEVELOPMENT OPTIONS
?? NAV received formal tenders for circa 0.5Mtpa oxide milling facility in late
2010, with all up capital cost estimates in A$25-A$30 million range
Cardinia Pit Designs
based on A$1,300/oz
?? Firm capital costs estimates also
obtained for circa 0.75Mtpa
processing facility and refinements to
mine plan being undertaken
?? Objective to upgrade project
economics to achieve unit operating
costs of A$600-A$700/oz"
