Ann: Corporate Presentation April 2022, page-18

Management have said clearly multiple times that their plan is to take KGP to production. Having said that, this doesn’t rule out one of the majors undertaking a hostile takeover at some stage. However if it is low ball and anything under 50c - I think many in here would decline the offer kindly and view this as a $1 plus company in the future with dividends on offer. It would be silly to lose out. If DEG can do it, no doubt AUC can. AUC aren’t doing all this metallurgical and geotechnical work for nothing. It’s clear they have mining on the mind and the fact they can grab substantial cash ($16M) even at this early stage, says to me the mining finance part should be relatively easy when the time comes.

As with the current share price, I am very happy with the way it is progressing. A red day across the board and we are now at 7c highs.