the Company’s major shareholder, Jetosea Pty Ltd, has agreed to...

the Company’s major shareholder, Jetosea Pty Ltd, has agreed to increase its current

unsecured loan by $600,000. The terms of the loan agreement are detailed in Appendix 1.

The capital raising has the Company well-positioned to finalise off-take and debt-funding for the 80%-

owned, mine ready, fully permitted, Whim Creek Project, while simultaneously furthering its strategy

of adding metal inventory to the Project through consolidation and near-mine exploration.

Anax Chairman, Mr Phillip Jackson has committed to take $750,000 in the Tranche 2 Placement and

major shareholder Jetosea Pty Ltd has committed to subscribe for 20,849,464 shares in the Placement

with 11,480,322 shares issued in Tranche 1 and 9,369,142 shares subject to shareholder approval in

Tranche 2 to maintain a 19.9% interest.

*Very positive in my opinion.