Hey TheHotPotato22During the qtr $509k ($282k exp/eval, $7k...

Hey TheHotPotato22

During the qtr $509k ($282k exp/eval, $7k staff, $221k admin and corp) was expended leaving $391k cash in the bank. Why is admin and corp so high ?

The quarterly states the finance facilities of $2m , $1.210m available for use, further it states "The Company has an unsecured loan agreement with a syndicate of lenders, interest rate 8% p.a. this when added to cash in bank gives $1.6m available. If the Directors intention is to proceed to increase the loan liability to fund operations , what is their plan to pay back the loan ? would they need to banking on generating revenue or raise more capital to pay back the loan liability ?

Based on activity completed by the company during the qtr vs the money spent , actual activity outcomes delivered seem a little disconnected.

In saying that the main positive was (*) the progression of stockpiles as it could provide cashflows and they have stated "Resultsfrom this sampling program and updates on discussions with potential offtakepartners will be provided this quarter. The only other key activities reported where (1) Assessing Strategic Opportunities in the Basin & (2) Oxide Heap Leach Strategy

Overall, some progression, one main positive but nothing to jump and down about. The directors just need to get on with it , execute the plan and provide updates to shareholders.

Finally in other matters specifically in regard to the Placement On 14 February 2023 where“ the Company issued 80,000,000 shares to sophisticated and professionalinvestors to raise $2 million (before costs). The placement was heavilyoversubscribed and enjoyed strong support from the Company’s existing shareholders”.

A sizable potion of those funds raised has now been consumed , the share priceis at a new low since relisting at 0.011 cents, lets hope the directors can startdelivering some results for shareholders.