Ann: Binding Term Sheet Executed for Lorena Project Acquisition, page-59

What the hell,

it’s becoming obscenely obvious that TBA has a serious problem in their onsite Cloncurry projects. In Feb 2022 the company reported gold production late Q2 early Q3 at the Mt Freda Vat leach carbon column process plant, now quoting Q4.

On LinkedIn the mine manager Dan Mundy said that he is ahead of schedule, now buying a CIP plant to process? Scoping study shows mining at 160 tonnes per day, the process plant at Lorena requires 833 tonnes per day (300,000 tonnes per year plant) scoping study shows total 89,000 tonnes oxide ore at Golden mile, so all of the ore at Golden Mile will only require 106 days use, also will take 20 months to mine the 89,000 tonnes.(11th Mar 22 broker presentation) Hopefully Mr Mundy can tell us on LinkedIn how this will work? seems things don’t add up, CIP process plant will operate for only 106 days but 20 months to mine the ore for the plant?

Either no one has any idea what they are doing or just no real management and genuine mining expertise on site or anywhere for that matter. I imagine that the reports put out by the company are generated from info supplied from the internet site management at Mt Freda.

Cheers Burgers!