Ann: Exploration Update on Metal Rocks and Barnes, page-4

re: Ann: Exploration Update on Metal Rocks an... Hi Treehouse

From studying EMA a bit more, I would say nickel/cobalt is looking good there. Proto's new ground does in fact border EMA to the south and west (EMA's new application).

In the words of EMA, Mulga Rocks is one of Australia's largest undeveloped uranium resources. From my investigation, Ambassador looks to be the one they are concentrating on, which is the closest to us. Total revenue from he Ambasador project is modelled to be A$2.6 billion with operating costs of A$1.3 billion, (operating costs ~A$0.7 billion net of by?]products).

There are more details about the project in EMA's 4/11 announcement. the project seems like a good fit for Proto in that we have the nickel/cobalt but get some uranium exposure aswell.