HRZ Management and Future, page-15

Toll Milling will pay off the loan very quickly, I am not concerned about paying it off. I am concerned about how this clown show management got there in the first place to get this crazy loan deal in the midst of a gold boom. Especially when there is nothing to show for it because nothing has actually changed in relation to mining anything. It is not like gold prices have been significantly low during the past 3/4 years. There are no excuses. Nowhere to hide. Since covid, gold prices have been fairly consistent around $1800usd, even better so in aud, so a lot more effort should have been spent on entering production. I keep going on about it and I will not go into more detail about how we got there, but it comes down to the management horror show and they need to be booted imo. By the time new management arrive, they should have a clean slate, with toll milling and Cannon production paying off the mistakes and debt of the current board and it should be smooth sailing from there. We have a lot of ounces within our assets and most projects are basically all ticked off to commence production on a permit side. They just require milling deals and a proactive management team. Cannon should get the momentum started. Around 6-8 months left to wait for Cannon and to boot current management.