Ann: Appointment of Advisors to strengthen Olympic Domain Plans, page-90

"... false & misleading statement ? .. so please inform how you know ALR have no funds for exploration .."

Facts from the company:

Wee MacGregor estimated expenditure (for current sampling programme) - Unknown (please correct me if I am wrong and you do indeed know the costs and timing of those costs).

Funds raised during previous quarter (dilution proceeds): A$850k. Funds raised in previous 12 month period $2.545 million.



Cash on hand at end of quarter (all at bank) $1.974 million.



In other words, all cash on hand has been "raised" during the past 12 months.

Net cash used in operating activities (Q2/2024) $225k. Net cash used over 12 months $1.370 million. Hence assuming "normal" operational cassh burn rate of $250k/quarter. These come mainly from fixed costs such as staff, admin and other operational expenses.



So, let's enter the world of fantasy and assume that the current sampling programme is not free. How much is it? As a comparison, Chinalco's Mt Isa sampling (9 holes, which is broadly equivalent to ALR's current programme) cost $178k (versus $275k budget). But this was a shallow, limited (chip) programme, and perhaps not directly comparable to ALR (?).

Happy to hear some thoughts on the costs involved. Clearly, I am not over this - so would appreciate input/help from some who are. With limited cash (or possible dilution?) I presume the costs are known?

Regards
Kit