Ann: Chairman's Update - August 2022, page-138

All that hocuspocus Poet put out on Redox boundaries and pyrrhotite is v applicable to 6.

Interesting posts... in the absence of information people are understandably making stuff up (or should that be stuff ups?).

The facts so far are that we're doing blind geology without outcrops and ticking all the boxes for a massive mineralisation system... OK no discovery hole or assays yet after 8 holes of 800,000m of drilling (but not bad considering it takes 30-40 holes to hone in on a T1 deposit) but as everyone knows these giants don't need big grades to be economic.

So we're approx 1/5 of the way in and we have majors already sniffing around. And, like Lock, I'm happy to be a junior with JVs... @ 30% that's a fab de-risk! Sure there are supply issues and rain delays but the ground has not changed... multiple mineralised areas kms apart similar to Mt Isa.

And re redox boundaries and pyrite to pyrrhotite... altho hole 7's 500m of iron (magnetite and hematite) is good for this, hole 10 hit brand new granites @ 200m similar to BK04 (we have the shallowest ground with Newcrest next door) with copper, zinc and lead in the hole.



Not BK04 hit something new @ 200m too... in Warrmunga or TC rocks




In sum, regardless of what market think short term, majors will think differently and look at the collective facts of the matter.

Read the thesis is still in tact AND this is far from a duster!

Poet

#WaitingGame