Ann: Update on Key Drilling Programs, page-25

if only the logic was that easy but we have 4 genuine projects with huge potential. To keep them in our own hands we have expenditure commitments each reporting year. We have to spend a set amount with key data gained from specific exploration plans for each project. Depending on how new/advanced they are, this could be initial desktop reviews/ geophysical surveys/surface samples/ different types of drilling. If we don’t spend and commit to these plans we lose the tenures. Pretty simple. I would prefer to keep them all, they could be worth billions in the future which would mean great gains for shareholders. Unfortunately covid has put a spanner in the works but let’s hope we get going on all of them ASAP.