Ann: High Grade Antimony Assay Results up to 15.99% Sb, page-28

Hey Uname101. There will be no capital raise. Their management team, those managing the founding shareholder Mine Discovery Fund (MDF) fiercely do not want to dilute.

I would encourage you to look at the presentation that they gave on Thursday. https://felixgold.investorportal.com.au/investors/#company-presentation

In this they noted:
- Antimony production by Dec 2025. They have antimony showing at surface. They plan to use an APMA (Application for a Permit to Mine in Alaska) - this is designed for fast tracking small scale mining operations. This...may...allow them to get some cashflow from simple operations that can be used to fund larger validation drilling and a larger operational feasibility study.
- No capital raises to come. They have funding options including: JV agreement with the Critical Minerals Alliance (CMA) yesterday in which they have obtained AUD50M in funding commitments to exploit critical minerals under their arrangement with the first nations tribes there.
- "There is lots of news to come over the next 6 weeks".
- Please note that the modus operandi of the Mine Discovery Fund is to discover and sell. They do not want to be developers of miners...they'll leave that to others. I appreciate there's a contradiction here from the above point, but the point is they do not want to raise money to develop a plant. They want asset sales.
- They have spent 2 years negotiating the CMA deal and that has included trips to Washington and NY to secure government interest in funding. They have the attention of key decision makers and grant providers.

PEER GROUP
Note these other companies with antimony. If anyone finds others, do please post! Note that everyone across the sector will need to raise cash.



FXG has disappointed many, given it's fall from 25c IPO to 3c and that they've spent $17M drilling for "only" ~850koz. However, it's unique in that management are exceptional and do not want to raise money, and they have so many funding options open to them. There's no plant needed to be developed, and so PFS and DFS studies are going to be cheap, cheap.

With respect to the peer group...I wouldn't go anywhere near SXG nor LRV. I presently know nothing of the other peers. Perpetua has agreements in place with US authorities, but is building a large scale plant on National Forest Service lands...so that's not a fast track production process!

Note: I am an owner of FXG have been buying from 4.0c to 9.5c.