Ann: June 2022 Quarterly Report and Appendix 5B, page-39

Back in February, they presented activities for CY2022. This included:

• DFS,
• Project offtake discussions,
• Project financing discussions

They have secured the strategic funding deal with Appian but the negative decree on the Mining License renewal is a bit of a setback in my opinion. They seem to have gone to ground following the takeover bid abut need to get the DFS completed and then progress the mining License application using the detail from the DFS.

DFS is the key announcement for Gorno imo and will trigger renewed interest. GH has been pretty quiet though which is not like him. Hopefully we get some good news in the next couple of weeks.