AKO General Discussion, page-327

The stars are lining up for a potential re-rate over the next few months.

The first potential catalyst is a DSO MRE at export grade, around 62%.

The second potential catalyst is publishing the scoping study which should show that operating costs are well under export pricing, margins are high and capital costs are modest.

A third potential catalyst would be obtaining a letter of support from an offtaker.

A fourth potential catalyst would be renewal of the tenements and possibly an application to upgrade the Bekisopa permit to allow mining.

A fifth potential catalyst would be talks with the port to sign an MOU for a ship loading conveyor and stockpile area location.