4 questions and one request / AGM

Hi All,

I’m quite interested to hear what you think about this situation. Hera are my 4 questions and one request regarding the upcoming resolutions for the next AGM:

1. Increase of the NED salaries & continuously expanding NED team: What is the motivation for expanding the NED team at this time and adding additional expertise?
Why not replacing some NED instead of continuously adding? What has changed since the last 2 years that the company now needs so many?
We are still waiting for the commercial frame work agreement between Peak and the TZ government similar to the Barrick story. That’s the key priority and without that they shouldn’t have hired anyone, don’t you think? Besides, there won’t be any progress without this signed contract anyway. What are your thoughts?

2. Same thing with the performance rights and the suggested milestones. Most of the defined milestones have no clear financial KPIs as must minimum deliverables to be entitled to obtain the PR. Just finishing the job will do to cash in? Seriously? How come? Is such an approach something that represents the shareholders best interest? What do you think?

Especially, when the share price is at 6.9cents and at the same time NdPr is nearly hitting 1000 yuan/kg, is this something that should be supported by the shareholders?

Why not defining share price targets? e.g. in case the average share price for 4 months is above 15cents, 20cents and 30cents they should get all their performance rights in the world!

3. Same thing with modifying the BFS to increase the output. Really? Why is that suddenly an issue and priority? Looks rather like a diversion than adding value to the project. Shouldn’t it be a key priority to update a.s.a.p. the BFS, especially all cost information, financial KPIs and commodity price projections and then to hit the road for securing funding and finding a real cornerstone investor?

4. Have you seen how many shares and performance rights Bardin Davis and Tony Pearson received until today? Could anyone please remind me for what exactly? Whatever has been accomplished until today was initiated and lodged by the old NED and Executive team incl. the SML application, land option in Teesside etc. Please correct me if I’m wrong.

Apologies, those were actually my 17 questions

THE REQUEST: Please take the opportunity to vote online at this year’s AGM and the resolutions. Each vote matters.

P.S. Does anyone know how many votes would be required to nominate 1 independent NED? What would be the correct process?