Ann: RRS Presentation- Paving the Way to a Greener Future, page-26

I am here for Alpha. We had a free shot at Georgina, in a wildcard way. Biddle/Young targeted the Twin Peaks (for good reason) and we hit unexpected results, no one's fault. Had those results been IOCG as expected, then we would be having a very different discussion today.

These few quotes are from Healy's 30/3/22 announcement:

• "While the assay results from the first two holes at Twin Peaks weren’t exactly what we were expecting, we are just at the very beginning of what we believe will be a long and very exciting journey for us"

• "the drilling has identified the presence of alkali basaltic rocks, which is not what we were expecting in the East Tennant region"

• "In what is an entirely new exploration province we were always going to encounter the unforeseen"

I don't for a moment think that I speak for other holders, and I speak only for myself, but my interpretation is they don't fully understand the geology of the region. I don't want to sink anymore of my $ into frontier exploration via GRV, when I think we have an exceptional and viable project in Alpha. I think mgmt have made an excellent decision to offload this project, whilst still allowing for SH's to experience upside potential if ARO strike in the future.