Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-22

To further add to above; the current JORC resource is only approx. 5% of the tenement area is simply the fact that:

• The ML (which is where the JORC is derived is c. 160 hectares) and ZEO actually hold over 28,000 hectares in the total Toondoon project (refer to map)

Re: project mine life, while"10 years" has historically been stated... once more material drilling is conducted this could significantly change to a mine life of 20,30,50yrs; and with greater annual capacity of who knows - 2,3,5 million tons !

In summary, the current JORC resource will present a substantial Project in its own right.

What adds further material SH value (= excitement) is that Toondoon undoubtedly hosts further high-alumina kaolin (albeit this needs to be firmed up with further drilling).

Thus, the PFS Project will be a Train 1 scenario, with plenty of additional opportunity to scale to meet the growing demand we anticipate for AusPozz.