Ann: 2022 Annual Report to shareholders, page-2

I guess nothing terribly new in the Annual Report other than Simon acknowledging that with the focus on the JORC MRE for Hemi there was a little less regional exploration than we might all have liked. But on that regional front, at least there was the comment that "Importantly, the Charity Well intrusion is over 5 times larger than the Toweranna intrusion providing added potential to define a large resource." The recent results there look very much look like Toweranna-type structures and grade, so there may possibly be a few MOz there in time when the focus shifts back to regional exploration. Although that may take awhile now they have cut back to just two rigs which seem to be focused on the deeper Hemi extensions at present (thanks Gmeister and Midterm for the updates there).

But the recent depth results from central Hemi certainly point to why there is such a focus on exploring these further rather than continuing the regional work. Given the likely size of the Sanukitoid intrusions that have formed the Hemi complex (can be many km deep, with gold concentrating in pockets, or not, depending on subsequent alteration) we can only guess at present whether erosion has removed much of the gold-bearing structure over the past few billion years in this stable part of the earths old crust, or if its pretty much intact, with the gold-bearing host rocks continuing down for km! The recent results from HEDD128 are certainly suggesting that things are very promising for major depth extensions at large scales and if there are a few more intercepts like that over the next few months I think I'll be starting to plan my retirement party