Ann: $11 Million NSR Royalty Financing, page-25

The NSR funds have now brought cash on hand to $14mm AUD. Based on the Forward Work Program at page 20 of the AGM Presentation the DFS is due for completion at end of Q1 2025 in about 18 months. Current cash should get us close to that point at which time they should be planning the debt and equity funding for the project development. It would be a great outcome for us if we can achieve project funding without further dilution until that final project capital raise at which time the share price should better reflect the value of our investment.