Ann: Drilling Program Underway with HM from Surface, page-4

Great investment opportunity here with EV under $5mill, seem ridiculous considering the below.. at todays mcap we are looking at each
project valued at under $2.5Mill and already basically proven, doesn't get much better for me, bargain

For a mcap under $10mill and $5mill cash this SP wont stay down here much longer, results due this month then weekly for two months then rolling into Mozambique newsflow to keep thing motoring

The RDG comparison is a ripper, RDG $150mill on the back of this below, and remember we still have the massive Mineral Sands project in Mozambique to top this off $$$$$ wise

 Project NPV (8%) A$483m
 Project IRR 48%
 Total Ore Reserve of 202Mt @ 5.4%HM
 Total Ore Reserve of contained Heavy Minerals 10.9Mt
 Total Ore Reserve of contained Garnet 9.3Mt
 Ore Reserve mine life 29 years
 Mineralisation open to the north and south

Balline Garnet Project (WA) transacted in 2021 for AU$22Mill, vending
into RDG.ASX1


Port Gregory Garnet Project
▪ 181 sq. km of contiguous tenure 30km from the port of Geraldton,
Adjacent to the worlds largest Garnet mine (GMA)
▪ Exploration Target of 170 to 250 million tonnes @ 3.5% to 4.5% THM
containing approximately 46% Garnet (E70/5160).
▪ HVY tenure includes areas GMA were forced to surrender due to
inactivity having completing 52 holes for 1725m in 2013-2015
▪ Underexplored greenfields tenure packaged with known target
to provide exploration upside

With 12000m drilling underway and already solid visuals we will be getting results from lab this month and then weekly as the samples are trucked on a weekly basis, on positive results we should see HVY level up towards RDG
As for Inhambane, right next to RIO in Mozambique

▪ 183km2 of land under mining application adjacent to HV Power, Major
HWY and the Port of Inhambane. Mining Concession application lodged
(25-year tenure), pending regulatory approvals
▪ JORC Inferred Mineral Resource of 51 million tonnes @ 3.4% THM
(1.7 Mt contained HM) with high-value assemblage, Exploration has only
scratched the surface
▪ Ilmenite (60%), Zircon (5%), HiTi (4%) and Rutile (2%) with low clay and
slimes content
▪ Adjacent to World Class Rio Tinto and Savannah Resources Joint Venture
“Jangamo Mineral Sands Project”

Inhambane 2021 & 2022
▪ 10,000m drill program (21/22) to increase
resource size
▪ Scoping study delivery in 2H2022
▪ Investigate offtake agreements/partners

Also to note is below regarding the garnets play

▪ Deliver consistent news flow post listing
▪ Fast track Garnet resource definition
▪ Increase Inhambane mineral resource to include all target areas
▪ Utilise cost-effective techniques to preserve capital while generating tangible
results

Port Gregory greenfield exploration & future acquisitions:
▪ Field surveys and auger sampling to identify potential exploration targets
▪ Follow up 10,000m drill program
▪ $600k allocated to assess other opportunities and/or expand existing tenure

For a mcap under $10mill and $5mill cash, this SP won't stay down here much longer, results due this month then weekly for two months. This could be anything looking at it peers and operating neighbors with ( clearly ) identical resources

Happily invested and holding L/T