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Penny has been dropping a while, helx 😅

What ever happened to the contractors that were staying on site during the flood?

Of course Coops. But gotta walk before you can run. In this case, crawl…

30% discount to spot was quoted as industry standard for artisanal when selling to 3rd party processors - I.e in NTVOs case when it doesn’t have a GOPP. It was mentioned in an RNS and again at 47:33 in the presentation webinar.

Fergal - we've been told that the recommencement of mining will shoot this to 2p overnight.... it's either a biggy or it isn't?

Rough calcs for Feb 2026 artinasal mining

Gold sales price ($4210 * 70%) = $2950

Grades (avg. 15g/t) = 0.53oz per tonne

Artinasal production rate (3-5tpd) = 4tpd

Recovery rate = 90%

Revenue per day = $5628

Cost = $1,500 per ounce @ 4tpd

Cost = $3180

Profit per day = $2440

Profit per month = $75k

Far from the $10m cap being thrown about.

Golf since in helx’s green fart box as she doesn’t like to listen to facts… can you ask them if these are bargain prices? If they think it’ll rocket to 2p overnight I’ll wait a lot longer, as any price they’ve said so far has dipped ;D

Fair play Fergal , always appreciated yours and likes of icemans views. Personally, I just don’t see it. They say contractors, once appointed, are “expected to mobilise to site in Jan 2026” and “full rehab of the mine will be completed by the contractor”. So still a while to go yet. Artisanal mining won’t pay the debts. The biggy here is delivering the GOPP

I mention cash flow as SB quote: “we anticipate to be cash flow positive by Q3 2026”. That was without this delay and mining anticipated this side of new year.

Fergal - I know we have a bicker here and there but all joking aside..

Do you not find it strange that mining couldn’t recommence because they wanted to get sampling in first? Why are they now all of a sudden planning to mine / hire contractors before getting results? Could they not have mined at any point in 2025 once they knew there was no damage?

All RNSs say “intend this” and “intend that” - do you think the GOPP will be on time, now that you have witnessed first hand the persistent delays? Cash flow issues not concern you?

Restarting mining peak rainy season? Think you might be waiting a while for any sideliners taking a punt 😂

With the delays will they be generating enough to pay back loan repayments?

Rattle rattle 😂 a small shake? You said when it was 0.89p it was just a small shake lol

Golf, might do some calcs later, busy day today ;D.

Helx calcs are misleading fyi. Investor meeting said sales price touching 70% spot and assumes profit without other costs

Fergal, there’s tears I’ll give you that. 😅

0.26 to sell by the way.

Cry? Oh I’m not crying 😂

The company keeps proving us “naysayers” right. We were told it’ll be 2p overnight with news. They’re now apparently going to mine without knowing which veins to target. Delays lead to further funding / issues for creditors.

Fergal.. the narrative we’ve been persistently fed is “we intend to tender for contractors once sampling is complete”. We were told they can’t mine bonanza because they found an extra 213k oz which “must be geologically surveyed first before mining”. Now, with samples delayed, they can all of a sudden mine without results? Give over.

If sampling wasn’t required to restart mining, you have to ask the question what have they been waiting for the whole of 2025?

As expected. Maybe an apology is owed by a few…

Missing quite a few keys factors though aren't you Helicks...

Sales prices is spot less 30% whilst not using GOPP for a start.. Also got to factor in the finance costs and admin costs. Not just cost of sales.