Ann: RIU Explorers Conference Presentation, page-46

You misrepresent what I said, of course, but summed the situation up pretty much. Dean is very confident of delivering a world class resource at Mangaroon and multiple discoveries elsewhere. Overconfident I say. We can't both be right, but whatever the truth machine reveals doesn't make either of us (or investors) wrong, just unlucky or lucky. The range of uncertain outcomes should be clear to everyone by now, it's simply the probabilities that Dean and I differ on.

It's easy for me to make calls from the cheap seats. I didn't help build and continually raise funds for an ultimately successful exploration company with the effort, risk and responsibility that carries. Dean's already a winner and better person than I ever will be. But in the public market you will be held accountable for meeting guidance, market dislike's being over-promised then under-delivered. I haven't set up Dean with high expectations, he chose to do that himself (in spades) and now we wait to see if he can deliver.

Being a West Australian, I wouldn't use "we are like the mailman, we always deliver" metaphor. I'm lucky to get mail delivered twice a week these days, and ever since covid half my post from the eastern states is late or lost and never delivered at all. Just because I disagree with the odds and how those odds are being sold to the market, doesn;t mean I'm not barracking for exploration success that proves me wrong. I've always been comfortable hope and expectation are quite different things.

Bring on the drilling results... Let the game begin.

GLTAH