Ann: Manna Lithium Deal to Fund Gold Focus at Lake Roe Project, page-183

I am very happy with BOD decision to sell Manna, our 10 M shares went from being worth 7M$ to 21,5M$ in 3 months. And we are still due 20M$ cash for milestones and we free carry 20% effortless. A lot of down ramping unsubstantiated above claiming 2,9B $ NPV for 10M of spod at 1,2%. This is grossly wrong. Firefinch presentation of 2,9B NPV is based upon 108,5 Mt at 1,45% with 52Mt measured and proven. Manna has got ZERO in the proven box and it miles away from this below, it will require Millions of dollars in drilling and studies in a cost inflationary environment.



Lithium price will rebalance soon with tens of projects coming online soon MIN, PLS CXO very soon. These prices (BMX auctions) are not sustainable from automotive and battery makers and with the world going to recession post COVID WAR, it could be a deadly combination for further investment in infrastructure for EV and batteries. An unwanted but potential scenario.

Back to BRB surely we are not 18 months near to pour our first ounce especially if we are going to build our own mill. But gold and BRB are long overdue for a re rating with a lot of exciting exploration news overdue. Our tenement is vast and valuable with a lot of lithium exploration in the area of Manna and gold exploration at Lake Rebecca with RMS, acquired for 160M$ smaller resource 6 months back. There are optionality including JV with RMS or sell the ores to existing mills in a staged approach which would make the 18 months not a silly target. They have been very busy and this could be the main reason for Tom not responding to emails, he usually would call back rather than answering. You can tell they are busy as the quarterly was lodged not on time to see it on Friday. With measured gold in the ground and solid balance sheet we are safely positioned to navigate through inflation and recession. I would be very careful with any lithium growth explorer lightly cashed and with no proven resource at the moment. Just IMHO