Ann: Quarterly Activities and Cashflow Report - March 2025, page-4

Unfortunately financing a mine development and getting the best deal for all shareholders is not easy.
The directors are looking to maximise the Government support and minimise the debt and equity
required.
To do that you MUST produce a BFS that will pass the banks requirements.
Very few small companies ever do this but it is something the KGL team DO understand.
The BFS is an excellent document.
I am very happy with the advisers they have appointed.
I suspect this may have created some tension within the camp as the Salim family are being forced to listen
to the advice of the advisers.
I have zero doubt the advisers will find very interested parties prepared to pay many times the current share market value
for equity in this project.My guess is it will be less than 10 weeks before this erupts.!