Ann: Higher Yields and Higher Prices for Siviour Project, page-27

The financial benefit of obtaining a +20% increase in PSG yield cannot be understated and is a massive tick for Renascor's flow sheet process.

Improving specific yield by 20% does not result in a 20% increase to NPV or Underlying profit...... It is actually larger.

You have already expended the OPEX to mine & process that particular throughput tonnage, you are simply getting an increase of 20% end product for the same expenditure.

The additional ~6/ktpa of PSG will add US$26 Million per year to the bottom line. OPEX staying the same results in a 29-30% increase in Annual Project Cashflow, improves the NPV Post Tax from US$499M to ~US$650M, improves the IRR Post Tax to ~42% & reduces the Payback Period.

This is a significant improvement to the project financials in it's own right to be added to the soon to be released DFS, which is likely to include an increase in throughput in conjunction with todays proven yield increase to +60%.

A +US$1 Billion (A$1.38B) Post Tax NPV is well in truly on the cards IMO, currently trading at a fraction over A$200M would certainly indicate significant future growth in the Market Cap in 2022 when the items get ticked off !