Ann: Exploration Update, page-45

Good interview.

JV with Australian Vanadium is an interesting project. BYH have rights to process Copper Nickel and Cobalt out of the already mined and processed tailings. Especially for Copper that could be a really good low cost project that already has a JORC resource. Just need Vanadium prices to improve for the JV partner to go ahead on the vanadium side. Ashley worked with Australian Vanadium when they did the BFS so knows the project.

With regard to Manganese, they expect the price to remain high for 15 months at least and "we are well placed to capitalise on that".