Ann: Arbitration of Contractual Claims Nearing Finalisation, page-48

The notes attached to the recent half yearly report gave a breakdown of the various amounts being claimed. How much we receive will dictate the extent of the stock re-rating.A stock price of 4-6c would be achievable if funds are received when expected. In view of the protracted history of this compensation process, it is difficult to be confident. Delays could see another CR in early `24. As far as selling out, I`m here for the copper potential. Exploration results over the next 12mths should indicate if we are sitting on a tier1 deposit/s. Success here would transform the stock , attracting the attention of the big end of town who are seeking increased exposure to copper. If we secure 75% of the underground, a free carried to DFS JV with a major would be a low risk path forward. The gold projects lack the scale to be company makers. That said, if we locate a third oxide deposit and eventually have three open pits in operation. We could be looking at around 150k oz of low cost gold pa. Which would be a nice cash cow that will have its admirers. The bottom line is we need the working capital to provide multiple drill rigs to demonstrate the potential of our acreage.At this point in time, there still remains considerable uncertainty as to the path forward.