Ann: HPA Project - DFS Update, page-49

Rayda my understanding was that was to ship Vanadium as a raw product that is currently selling for approx $26,000 AU per tonne.

I was thinking we would produce the 5N HPA with the new ARC process using the vanadium instead of selling the raw material 5N is currently selling at approx $67,000 AU per tonne.

Also during the process it would leave us a stockpile of the other minerals to be sold as well.

This makes a big difference to covering the cost of mining the product and building the mine.

I was hoping with all the money the Govt is throwing around with grants and loans helping companies like us get to production we would have help with funding once we can derisk this and if that’s not possible a JV and perhaps KRR could become a producer rather than us be bought out for peanuts.