Ann: Investor Conference Call - 24 July 2024, page-6

Croc 16, I think you are right. I expect a decent profit obviously including a high capex spend without which we'd be roaring along. I've previously posted the value of Federation and Great Cobar and showed the two combined will come to $4.8 billion revenue. We just await Federation commencement and ramp up, then G.C. gets delivered. MC of roughly $350 million with $116 mil in the bank doesn't do justice to what we own and can deliver near term. LOM was always said to be a negative but Peak and Fed take us to 2032 and likely beyond given they are both open in multiple directions. I agree we are considerably undervalues and just await each announcement as things unfold, for us to continue a steady climb. Maybe it starts after tomorrow's quarterly release and presentation.