Ann: 2022 AGM Presentation, page-112

Esra, agree does not apply to Spq.
Carnaby knows what they got, so drill, release assay.

Spq is defining structure and need many results to work out what they got.

Basically Spq have been on massive secondary mineral, they call this wall rock. With what appears to be multiple cores , sources.

That needs to be worked out. Hense delay and expert report.

When worked out, they will know a rough zone, size.
Maybe 1200m long, 600m wide. Depth could be twice what we know.

Will then resource drill. Peter at the presentation stated he could drill copper, so the aim is structure interpretation.

A porphyry, is different to a sulphide, in a sense you need to locate the cores first, then ya minerals later.

If we look at Cadia, Spq has done far less drilling in defining this at the early stage.

The longer we await results the better as we await structural data, not copper assays per say.

We should not be looking at copper grade per say.