interim MRE Official Discussion

The interim MRE shows 315,400t of CUeq valued at US$8500/t as referred to on the first page of the ann, the math on that works out to be aprox AUD$4.2B with more to add at the current exchange rate of 0.67. for the gold it shows US$1950 per oz, with 148,200oz reflects a value of over AUD$450m

Combined resource value of under AUD$5B with more to add and a PFS coming into Q1 2024

Personal expectations were around 350kt for me but very happy with where we are at as there is more drilling that will add to the MRE. Very bullish on copper over the next few years with analysts predicting US$15,000/t and a 40% more use of copper than lithium will it hit these targets I dont know but speculation is on the positive side at this stage.

With Glencore shutting down their copper facility might be interesting if something was worked out to play at CNB's advantage.

With the company well funded into next year and the SP where its at considering world war 3 doesn't occur and global markets dont turn to shyte I see a great future for Carnaby and as a shareholder I have more confidence now even though SP getting smashed than i did when it was trading at $1+

Good Luck to all traders from scalpers to shorters