Ann: Copper Sulphate Production Update - August 2023, page-9

My numbers from the releases and prospectus..

120kt Mt Norma ore (JORC measured group- prospectus) x .02 (Average Grade 2%)= 2400t contained copper

You never get more than 80% recovery from SX over a 3-5 month basis

2400t Cu x say 70% recovery= 1680t recovered metal

1680t recovered Cu x 2205 (to convert to pounds)= 3.7M pounds of recovered Cu metal in copper sulfate form.

Current copper price $3.84 per lb USD (**promotion blocked**metals.com) = $5.96 AUD per lb

$5.96 per lb (AUD Cu price) - TNC AISC $1.40 per lb

= $4.56 AUD per lb profit (for copper sulphate production)

= 3.7M pounds x $4.56

= $16.87M profit from crystal production over 5 months basis.

One would imagine this is going to pay for Mt Oxide/Cloncurry exploration and ops.

Another box ticked in my opinion.... Look forward to seeing the mining re-start- they are saying decision out shortly..

We are due for another exploration announcement!!