Ann: November 2021 Presentation - Update, page-24

FY 23 has always been the one to watch, its the year when the Hillgrove, Far West and Liontown combo comes into play although during FY 23 Far West will finish, so then becomes the Hillgrove / Liontown show for a while.

I think the FY 23 revenue target of $233 m is achievable but as always so much depends on actual production , commodity prices and the exchange rate , they could be very different by FY 23 and its why predictions are so difficult and are just that. Commodity in AUD's are certainly very much in our favour at the moment but you can guarantee it won't always be that way.

As for the shareprice predictions they really mean nothing , we were at 40c before we sold or first load of concentrate, in the end the market will put any price it can get away with on the day...

What we do know is we are coming off a record quaterly high from Far West to be followed what could easily be a record low from Far West, certainly lower at best, so naturally the marker is a bit cautious despite high commodity prices.

Cheers Whisky