Ann: Quarterly Report 31 December 2022, page-20

Based on everything I personally know, this is how I see it playing out. This is my opinion, do your own research, if you agree or not I don't care.

- reports to start rolling in through Feb
- optimisation study completed march 2023
- Funding announcement(s) March / April AFTER the optimisation study. This is part of the DFS work.
This should look like a multi front financing, a combination of government grants, partnership agreements, debt agreements etc.
- Permits to roll in after this, with mine design etc. getting completed as part of DFS
Q2 to finish with cash in the bank
Q3 / Q4 to need a capital raise unless the options are "in the money"

Share volumes to increase at end of Feb and march prior to this we will keep testing 0.45. once there is decent volume we will get a run up