Ann: Ironclad present at Mines and Money BRR webc, page-5

re: Ann: Ironclad present at Mines and Money ... The 2 most interesting things for me from the presentation were:

1. The production slide showing their plan and timelines for production up to 10 mtpa. I knew Ian always wanted this but it actually showed year by year details. To think he seems clear on a path to this with basically no further share issues nessacery - or very minimal.

2. The debt being seeked is looking like $35m which is far more than what is required for startup. This shows that obviously the banks are interested and would give them plenty of cash to do things (exploration) straight away.

Regards,
W.