Ann: Drilling Completed at Port Gregory - Further Update, page-19

Plenty of news flow coming up that's for sure. These would be the ASX announcements we would be expecting in my view. Would be interested in anyone else's thoughts on this timeline.

- Commencement of Drilling at Red Hill (imminent)
- Initial assay results from Port Gregory (imminent)
- Possibly an update on initial visuals at Red Hill (either on it's own or in conjunction with another announcement)
- Further assay results from Port Gregory (late January)
- Drilling Completed at Red Hill (Late Jan/early Feb)
- Initial assay results from Red Hill (Feb)
- New CEO (Hopefully ASAP)
- Capital Raise (the above will prop up the share price to get the raise out of the way) (Feb)
- Update on next steps in relation to Mozambique (I hope we don't do anything here, and focus on, and save funds for, Port Gregory and Red Hill) (After Feb cap raise)
- Updated JORC Resource for Port Gregory - (20-30% upgrade is my guess) (Feb/March)
- Maiden JORC at Red Hill (assuming drill results are very good which I believe they will be) (March/April)
- Commence PFS for Port Gregory (next step in de risking the project CAPEX and OPEX numbers (June/July)
- Met work started for Red Hill (June July)
- Met work results for Red Hill (July/Aug)
- Further drilling at Red Hill, or even Port Gregory or any other discoveries in the area (Q3? depending on funds available and what we find in current drilling)
- Cap raise to top up the account (late 2023 hopefully is capital management is managed prudently)
- Offtake for Port Gregory? (late 2023/early 2024?)
- Commencement and completion of of DFS in 2024 for Port Gregory
- Funding requirements locked away in 2024 (in conjunction with the DFS so could be a BFS)
- Production 2025 (assuming Port Gregory here. Who knows, if Red Hill turns out to be a beauty then it is closer to Port and we may decide to mine there first. A good position to be in.)

The fundaments are very very good.
This is a fantastic long term investment. Heavy Minerals don't excite the average punter (and they don't understand the sector) and generally when the average punter hears Mozambique they lose interest so we don't get the big spikes like the lithium juniors, as an example. What we will get though is smart money as the fundamentals keep building and the project(s) continues to get de-risked.
When macro economics look bullish this type of stock can certainly attract the momentum. Everyone has a view on how everything may play out this year however in the first half of the year things will remain volatile, just my view.
However that doesn't impact on the long term fundamentals for the project

What would also be really bullish is if the chairman keeps buying shares on half a dozen different occasions during the Red Hill drilling campaign, similar to what he did during the drilling campaign at Port Gregory. Let's watch for that positive sign.

GLTAH.