Ann: Variations to Cuban Joint Venture Agreement, page-47

Hi mate,

My thoughts are in RED

Thank you, I am doing DD on the company and management.

I do have 4 questions for you:

1) Do you know for sure that either JV (third parties) or offtake finamcing discisdions are actively taking place? 99% sure that there will be no JV. There are only 2 or 3 companies globally that will invest into Cuba (Glencore\Trafigura etc.). Brian has been courting them for multiple years and has not been able to get a JV or Offtake agreements signed!

2) If so, how long have the JV or offtake financing discussions been going on for? Multiple years, look back at old AAU announcements. I wish I had a dollar for every time Brian released a ASX announcement that he has in discussions or close to a deal! 2024 and still no JV or Offtake signed.

3) With whom? Glencore or Trafigura. As previously mentioned, very narrow lane due to the mines being in Cuba. IMO Brian has exhausted his best opportunities to get this done! If he could, this would have been done years ago.

4) Why do you think they have not yielded any results? Combination of geographic/political risk and the other major factor would be a weak management team (Brian) who despite trying for the last decade can't do a deal in Cuba.

This is an opinion, so all the haters can stay in their box!

Thank you.