Ann: RIU Presentation, page-2

- Minister sign off
- federal (state accreditated) approvals (unsure whether this actually requires anything)
- independent technical review
- finance
- final investment decision
- offtakes

this is the list of "to-dos"...... However, my uneducated opinion, assuming minister sign off we should see a rise back to the 10-15c range (allowing for dilution) market cap of circa 70-90m which was the holding pattern post BFS and the "offtakes before xmas" good ol' days. and approvals were assumed to be 12 months.

alot of speculation in this postulation though as there is an ocean of stale holders and some pretty poor sentiment around the place, but if production actually happens in 2026 then it won't matter long term.