Ann: Quarterly Activities and Cash Flow Reports June 2021, page-13

The last quarter was so underwhelming, gradually becoming King Island SCHITE. First of all look at the funding situation. KIS has used the word "syndicated funding package" which tells me that they were not able to raise the funds through orthodox means and now they are getting creative in order to try and raise the funds. This is not to mention the constant deferment of the funding expectation. First it was May, then June/July, another poster rang the company and was told August, now from this quarterly they are saying September/ October. I reckon they should aim for every month in the calendar, they are six months out of twelve so far.

Then there is the appointments of Gekko systems and Alvins Johns who have already been with KIS for 3 years and 10 years respectively. So we have the appointment of those who were basically already appointed, a real milestone. The testing results confirmed what was known about the mine already. The EPA approval is an example of just one of the many submissions that will need to be done to various authorities, and the Regional exploration grant of $70,000 from the Tasmanian Government, well the best that could be said is that I guess it is better than nothing.