Ann: Quarterly Activities and Quarterly Cashflow Report, page-2

Highlights

• Strongest production Quarter to date with 5,268ozs Au produced, driven by record grade (3.03g/t) and excellent recoveries (>75%);
• Stronger operating performance to continue into September Quarter
  (Mt Boppy expects 15% increase in recovered gold production over
  IPO forecasts following Resource Update announced 1 Feb 2021);
• ~$1.58m generated in Operating Cash Flow, the strongest Quarterly
  result this Financial Year;
• Cash balance was ~$1.45m after repayment of US$3m to the
  TransAsia Private Equity debt facility during the Quarter;
• Compilation of Wonawinta Mine Plan and maiden JORC Reserve are
  progressing well;
• Wonawinta Silver production is planned to commence in second half
  of calendar year; and
• Further Wonawinta Silver extension drill program to commence in
  May, initial Wonawinta Deeps drill program - assay results pending