Ann: Update on Rhyolite Ridge Project Joint Venture, page-127

Further to my reply post to GW yesterday but I wish to add further context to my analysis( from INR annoucemnts and reviewing agreements),

GW the trader and any other trader may have forgotten :

By way of back ground and based on past public INR annoucments which is factual :

• RE Sibanye signed and Binding JV agreement, they now have breached the JV: The JV was binding , this could be a sepaerate material matter for INR to, to claim damages, maybe say a $ 50 mil separate court case based on their failed cash injection ?

• Prior to Sibanye, there where are other contendors who did their DD , maybe they could be back at the table at a better INR deal ? They missed out last round and the resource projection has now increased, what a scenario ?

• Goldman Sacks is INR advisor , I would think they are bring the right partners to INR ?

• Updated DFS still pending ( maybe a time lag due to Confidentiality Agreement with Sibanye ? not sure but logic says its a very material issue and should be annouced)

• Its clear by the INR last annoucement (and recent prior ones) the resourse has significantly increased, which would included the mines life span ( one could say a 30 -40% increase at a guess based on the companies annoucements.

• The increase of the resource output logically will extend the mine life span, maybe my guess to 30 to 40 years ? based on somple numbers todate.

• The 3 major off takes players eg Ford motors etc are still in the there, no companyt annoucement to say other.

Finally, as previously mentioned, 70 % of the stock (say 2.2 billion on my calcuations) it is publically clear the top 20 % share holders are not selling , DYOR)

Thats my humble overview update, I hope this helps some newbies , I am not a trader but an investor.

The DFS should be releast soon as the the rules of public disclosure ( subject to current confidentiality JV ? )

I believe there is a plan B, logically and Sibanye have had very public cash flow issues, INR are now in 100 % control of the mine.