Ann: Date of Quarterly Report and Briefing, page-4

Birchcorp while I don't appreciate some of the past, I agree with you.

• What is the Head of Corporate Affairs being paid to do? (a new position in the last 12 months or so, interestingly the title has been changed to Corporate Affairs Manager)
• What does this person do for 40 hours per week?
• Is the person even in the office?
• Why is it needed when ARU is not even a producer?
• Who approved this position and recruitment?
• I'm sure this is a $200k+ pa salary. Are we paying $200k+ pa for someone to run a Zoom meeting once a quarter?

This is just one example, how many other non core positions have been put on by the company while they destroy our capital because they need more funds to ensure they can keep running the admin of a project that's way overdue and not yet funded.

• How many staff are being paid?
• What has the change in staff been over the last 18 months for such a cash burn, meanwhile we haven't even got FID now 2 years overdue?
• How are they spending so much that $75M wasn't enough?

How has the company been so badly mismanaged with so much promise, that they needed to do probably the worst Capital Raise in ASX history.....
(when at 20c share price, with $75M in bank, heavily shorted, and do a piddly Xmas time capital raise at 52 week lows, for an effective price of 13.5c/32.5% discount and destroy company value by now $140M just to raise $25M that shouldn't have even been needed).

The Chairman needs to be held accountable.