Adriatic with the definitive feasibility study we've been waiting for on Vares Silver Project in Bosnia & Herzegovina. Massive improvements on last years PFS.

IRR >21%
PP <40%
AISC <25%

Project was quality on the PFS metrics. This is an outstanding increase in profitability. 

Room for increase in recoveries flagged:
• Metallurgical and geo-metallurgical test work ongoing post-DFS, 
targeting continuing improvement in recoveries 
• ESIA, concentrate offtake & project finance work streams
advanced, progressing in line with Company’s expectations

Check ASX ann for the full DFS numbers, it is very impressive.

Fully supportive government in country, attained majority of permitting already.

This mine is getting built.