Ann: MD Presentation at Critical Minerals Conference, page-7

The odds of a large, economically viable system in the 500Mt–1Bt range are firmly on the table given the continuity and footprint so far.

If we focus solely on Cangalo AQD could be on the verge of something special.

Key Takeaways from the 7 Feb Announcement
✅ Confirmed Discovery StatusMultiple broad intercepts with good continuity.All holes ending in mineralisation = open at depth.Porphyry-style mineralisation confirmed — Cu-Au association, long intercepts, and zonation. Standout Intercepts, several long intervals are geologically meaningful:304m @ 0.30% Cu (including 28m @ 0.56% Cu)154m @ 0.37% Cu226m @ 0.22% CuThese are very encouraging for a first pass over a "small fraction" of the system.

Geological ImplicationsIntercepts start from near surface, which raises the possibility of shallow oxide Cu resource as a bonus.Mineralisation is open in all directions, and the system likely has vertical and lateral scale still to be tested.The nearby coast and infrastructure dramatically improves future development optionality.

Given the continuity and footprint so far. If more >0.4% intercepts emerge, the odds of a large, economically viable system in the 500Mt–1Bt range are firmly on the table. Stage 2 Drilling is so close due to start later in May.

A 500 MT @0.35% CU discovery could easily 5x from here ie 30 cents per share
a 1B 20.35% could easily 10x from here giving us 60 cents per share

The risk to reward profile here is just to compelling to ignore...Bring on Stage 2 drilling !!