Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-19

Once again a fairly comprehensive Activities report, though no elaboration on what the hold up is with the demerger.

We usually get a stock head interview or similar, so might be some news in that.

Although we burnt $48m, a lot of very expensive activities were undertaken.

The cut back of N’Tiola and the Super Pit.

Also as we start processing higher grades, the expenses will remain the same (plant still running 24/7), but the gold/revenue produced will increase with it forecast to breakeven in 2023. It won’t be until we’re producing at 150k oz + that the AISC will be inline with forecast & we see decent returns. But that’s not far away, we plan to be producing at 140k annualised at the end of this year.

I’ve summarised what I considered the main points, omitting the previously announced drilling.

- first ore on track to present ahead of schedule during Q2 2022

- Cash and cash equivalents available of $102.09 million at 31 March, 2022

- Gold production during the quarter was 10,874 ounces of gold,

- With the commencement of mining activities at N’tiola EGTF have mobilised their 100-tonne fleet to N’tiola

- Dewatering of the MSP is largely complete with tailings repatriation infrastructure installed and scheduled to commence in April 2022

- Ore is scheduled to present at the MSP in Q2 2022.

- Production guidance for Q2 2022 is 17,000 to 20,000 ounces, setting up the year for approximately 100,000 ounces of gold in 2022

- consisting of 340 direct employees and 1,726 contractors

- 78.9% recovery

- Hydraulic sluicing will cease in April 2022.

- The planned 9-day Morila plant maintenance shutdown was executed at the end of March 2022. successfully including reducing the timeframe to 7 days, achieving 96% scope completion

- refurbishment of the third Allen generator in Q2 2022

- The fourth, and final, Allen generator will be refurbished during Q3 2022.

- The tender process for the supply of a new hybrid power solution and power purchase agreement is in progress.

Tenderers have been shortlisted. Morila expects to have completed the tender process and award the preferred provider in 2022.

- reduce power station operating costs by approximately 25%

- install of the Chrysos Photon Assay analyser early Q2 2022.

- During the Quarter 25,588 metres was drilled in 482 drillholes including 4,185.1 metres of diamond drilling (DD).

- grade control drilling also completed at Viper

- In the June quarter, Firefinch will issue the Notice of Meeting and accompanying prospectus.

- Burnt $48m