Ann: Significant Nickel Upgrading of Quicksilver Mineralisation, page-5

Solid progress.

We're treading into new realms for me in terms of knowledge of experience, so I'll not pretend to be a master. The market will likely decide more accurately than me. However...

• The nickel-mica association is a very interesting turn. Mica is easily crushed and therefore could further aid the targeting of the ore and the refinement to a higher grade product
• Great to see that studies on the mica front will not impact overall timelines
• From first pass, nickel recovery rates of approx 75-80% from such a simple, low intensity and very low energy process is really encouraging. Also reducing overall mass by 50%
• Next steps... can this be further reduced, and can this move towards a 1.5% or so nickel grade? If so, because it would be a direct shipped ore you can make money off this. After all, that's what we're all about here. Yes it's a nickel oxide, but it's free dig, low strip, and simple benefication, with the potential to simplify and purify even further.

A vital step towards scoping study. Could be a big year and if all goes well, a $50-100m market cap depending on results.

That does not include the potential for what lies beneath, or for Yuminary. Note, this would be a valuation for a DSO ready company