royalties, page-4

Here is a quote from the questions I asked at the EGM.

Question 2: The Magna funding deal entitles them to "receive a 7.5% of gross revenue royalty for the life of the Kurnool plant." Does this mean the new wet plant only or does it include the existing dry plant? ie anything that is sold and goes out the gate at Kurnool.

Answer 2: The gross revenue royalty for the life of the Kurnool plant does include both the dry and wet plant. Essentially anything sold ex mine gate out of Kurnool is included in the royalty. This however does not include any of the companies other tenements or operations.

Questions 3: Last year the company was talking about purchasing a low capex mobile dry plant to be located at AP23. This has not been mentioned for some time....is this still the plan?

Answer 3: This is still the plan, however the priority right now is the commissioning of the wet plant.

This is the extent to which this has been discussed. None of us know of any further plans, however, the end goal is to have plants at AP14 I assume, so the royalty at Kurnool is not something to worry about long term in regards to an impact on revenue (imo).

AP23 would be the next location to get a plant I believe.