Ann: Drilling Confirms Discovery of Large Cu-PGE Sulphide Reefs, page-186

Hello. It was even more interesting reading this compared to Nebo-Babel, when even TM1 did not appear to do this. Nebo-Babel is a broad classic open cut deposit with 0.30% Cu, 0.33% Ni, 0.23g/t PGE3. The 12/2/20 OZL PFS proposed to mine copper & nickel mined at around AUS$34.30/tonne of ore reduced by gold & silver by-product credits.

OZL PSF: https://announcements.asx.com.au/asxpdf/20200212/pdf/44f0x6fcq1pqpg.pdf

TM1 don't have nickel. TM1 have Cu, PGE3, V2O5 & TiO2.

AVL 6/4/22 DFS has higher grade vanadium proposed to be mined & processed at around AUD$140/tonne of ore

NMT 15/5/23 DFS has 22.3% titanium ore proposed to be mined & processed at around AUD$102/tonne of ore

So TM1 has this very skinny low grade copper, platinum, vanadium & titanium deposit, which might possibly be expensive to mine at any significant depth.

These reefs appear not comparable to Nebo-Babel in any way, shape or form.