Ann: Syerston Nickel/Cobalt Mineral Resource Estimate-CLQ.AX, page-3

First few paragraphs

Syerston Nickel/Cobalt Mineral Resource Estimate
Updated Resource Estimate demonstrates potential for Syerston to become a leading global supplier of cathode raw materials to the lithium-ion battery industry
Highlights
 Update to global nickel/cobalt Mineral Resource Estimate confirms approximately 700 kt of contained nickel and over 110 kt of contained cobalt, making Syerston one of Australia’s largest undeveloped nickel/cobalt resources
 Over 92% of the Updated Mineral Resource Estimate is in the Measured and Indicated categories
 Cobalt grades position Syerston to be one of the largest global suppliers of cobalt outside Africa
 Potential to fast track development with key work programmes, infrastructure and permits already in place - prior feasibility study completed; Project located adjacent to existing road and rail line; water allocation secured; EIS approved; and Development Consent for a 2.5 Mtpa operation granted
 Nickel/Cobalt Project Prefeasibility Study (PFS) to be released shortly
 The PFS will assess potential for a 1.5 - 2.5 Mtpa mining operation to produce high purity nickel sulphate and cobalt sulphate products to supply the global lithium-ion battery industry
 The Project has the potential to generate significant scandium by-product credits, opening options for a step change reduction in scandium oxide production costs