Ann: Dec 2020 Half Year Results Investor Presentation, page-68

Hi Cyberguy,

It was Peter Trout (COO) who said in a previous conference call I think it was last year, that we are not going to get any meaningful production from this area until Q1 22. Whist we are there now and setting up, it won't be until June that production really begins to flow. So no real material impact on the balance sheet for the remainder of this FY. It's all about FY22. I know there are posters hoping for an earlier start, and I hope that is the case, but that was not what was stated by the COO.

All the goldies are getting hit with gold still falling and people exiting and unwinding positions until they see signs of a floor.

AMI was unloved and has suffered from a complete lack of marketing by management and questions over the Dargues acquisition. We also don't know if some of the underwriters have been selling down any surplus stock from the capital raising. It won't be until we get drilling results back from Dargues and confirmation of grades, along with any information regarding the Great Cobar Complex, etc. That may finally slow this decline.

I reiterate my previous comments that we won't see any significant upward price appreciation until mid year.

All the best.

KKR