Ann: Change of Director's Interest Notice - ALL, page-35

Hi Jase

Nice to see you are still a long term holder too. I just wanted to correct a misstatement in your post. Yes the directors agreed to go into the placement as announced last year. However before being able to take up their placement shares it had to approved by the shareholders and this was approved at the EGM in late January 2023. Regardless of the approval it is however still up to the individual directors if they subsequently actually take the placement up or not. Even though the placement price was at 70c, and the current SP was 53c, all the directors decided to take up their placement shares at the premium price in support of the company. So yes we did pay a premium, but as directors please understand that we are heavily restricted in the periods when we can actually buy on market, and with drill results still outstanding, resource updates and phase 2 scoping study in the works it is safer for directors to take up the placement shares than to buy on market.