Ann: Letter to Shareholders-Notice of Meeting and Proxy Form, page-162

Watching the Crux interview again, this was what was said regarding the submission of the feasability study.

Interview release date Feb 12, 2023 (14 days ago (excluding today) or exactly 2 weeks for those that can't count).

Crux: "...you're about to submit the feasability study, how's that going?"

Tim Harrison (IXR): "yeah it's good, so we're getting very very close. We've been waiting for the Uganda to finalise their submission portal..."

Crux: "right"

Tim Harrison (IXR): "...on recent changes to the mining act. so we expect that by the end of this week we'll be ready to upload those documents and we still got to complete an Ore Reserve estimate and get that out to the market, and then we'll be in a position to release our study to the market and talk about the project economics at that point in time."

Crux: "okay, and I want to come to that, so the Uganda Government is going to be ready to receive if you're ready with the feasability study right?"

Tim Harrison (IXR): "yeah we've already been working with the Ugandan Government since the start of September (2022) on the Mining Lease Application, so we've provided them with initial documentation so they can start getting their head around you know that way in which we envisage developing Makuutu, getting into production and potentially scaling up substantially in time.

Crux: "okay so I just want to be clear, I want to know. Will you be submitting next week? If it's ready at the end of this week (referring to the Uganda Government submission portal)

Will you be submitting next week, because you've got a few things that need to go in at the same time, are you ready?"

Tim Harrison (IXR): "yes, all the documents are lined up and ready to go, so uh we're just waiting (referring again to the Uganda Government submission portal) we've been a partner in the submission process and working closely with the Uganda Government on that.

Crux: "okay so.."

Tim Harrison (IXR): "they've been (Uganda Government) very, very supportive through social media as well, I think umm and I think that gives an indication of the relationship that we've got with the Uganda Government and I mean recently we renewed a retention license, that was renewed within eight days. So there's a lot of support there."

Crux: "okay so okay, you're ready to go. So you must have some sense of the what the economics are looking like or a firmer sense of what the economics look like.

When are you going to be in a position that's going to share that with the market or explain those?"

Tim Harrison (IXR): "Look hopefully when, we're not very far away from being able to do that, I'm waiting on competent people to finalise all the documentation for the Ore Reserve estimate and the project team to get that closed out and submitted to the board, hopefully that's not that far away either."

Crux: "okay so feasability study process in terms of approvals is how long? It's not going to be eight days.."

Tim Harrison (IXR): "no no no, I think for the mining lease application, the mining license application, we're expecting we'll have that by the end of March, that's the dialogue that we've had with the Ugandan Government."



This is in the first few minutes of the latest Crux interview, I can understand how there can be confusion with the interviewer being a little hasty but it's clear the wait or hold up is from the Ugandan Goverment submission portal, the question was asked if it's ready next week (the submission portal) will you be ready?

As Tim said, they're ready and waiting, therefore the only conclusion here is the portal isn't ready for the documents to be uploaded.

Perhaps someone can pose that question today at the meeting in Perth.