Ann: RDG Investor Presentation HY24, page-2

Post the results and Corporate presentation ,although limited in direct market information on garnet etc (volumes sold,what products and where) we are seeing international sales commencing which is good news.

$7.5 million in garnet sales with a estimated wholesale price to distributors of circa $400 ( gestimate given end product sale prices are circa 550 to 600 per ton) would suggest circa 20,000 tons has been sold.We have no idea of any stock piles,what products are selling what aren't moving.Have they shipped and sold any illmenite ( small bi product of mining process)

They say there on target to reach name plate of 130,000 tons this calendar year,so allowing for the plant teething problems (which is typical of new start up) at 3.5 cents this should be the bottom.

Research written on the company has a conservative valuation of 5.5 cents and rated a buy.

Little stock around suggests this could start re trace to 6 cents now