Ann: Final Boorara Toll Milling Campaign nets $1.2 Million Cash, page-10

Quote: All we have to hope is that the commodity prices stay favourable, because this is one single variable that we cannot control.

That’s True... However the other advantage of HRZ is we are naturally hedged with other assets and partnerships out side our primary focus... GOLD
Richmond Vanadium
The scale of the project places it as one of the largest undeveloped vanadium resources in the world, which is close to surface and remains open in all directions.
Nimbus Silver/Zinc
If Silver takes off in the commodities super cycle like some are expecting... the SP could double or more just on this single asset.
Gold Royalties
From a number of mills
Kings West (KWR)
$4.625 million (total) in Kingwest shares at 15cents...

I believe we may have the final trench still coming, however I could be wrong we may have already received this... I’d have to go through some announcements to confirm.

• A$1.625 million in cash and A$1.625 million in Kingwest shares (the lower of the 30 day VWAP or $0.15 per share) 18 months after settlement (due no later than March 2021).