In addition to its suite of tenements, the Company’s wholly...

In addition to its suite of tenements, the Company’s wholly owned subsidiary, Mid West Infrastructure Group Pty Ltd (MWI), holds intellectual property developed by or on behalf of Yilgarn Infrastructure Ltd (YIL). This intellectual property contains economic infrastructure data including port and rail design, detailed engineering studies, project definition documents and financial modelling in relation to the potential development of rail and port infrastructure solutions in the Mid West Region, including at Oakajee. Approximately $3 million has been spent on further developing this intellectual property since the acquisition from YIL

On re-quotation, the Company intends to undertake the maintenance and further exploration of the Company’s current suite of tenements in the Mid West Region, and has reappointed CSA Global to advise on the potential development and expansion of its mining tenements.

In addition, the Company will continue to explore potential opportunities to utilise or extract value out of the intellectual property which it holds, whether in its own right or through collaboration, joint ventures or other partnerships with parties who are interested in developing infrastructure solutions for the Mid West Region, in order to facilitate the development and export of minerals from the region.

The Company continues to engage in confidential discussions with a range of parties in relation to potential future infrastructure and funding solutions, however none of those discussions are at a binding stage, and it is not possible for the Board or Management team of the Company to predict whether or not (and if so, when or on what terms) any such discussions will lead to detailed negotiations, term sheets, binding commitments, contracts or investments. The Company continues to respond to confidential enquiries and facilitates due diligence as and when requested.