Ann: EKF Issues Financing Letter of Interest, page-34

Rarely do I respond to people who do no research & come up with ridiculous assumptions but I will make an exception here.

This is from the last quarterly in October.

If you read it you would see what a ridiculous assumption you have made.

4 quarters of cash on hand!!!!!

8.Estimated cash available for future operating activities$A’000
8.1Net cash from / (used in) operating activities (item 1.9)(801)
8.2(Payments for exploration & evaluation classified as investing activities) (item 2.1(d))(2,697)
8.3Total relevant outgoings (item 8.1 + item 8.2)(3,498)
8.4Cash and cash equivalents at quarter end (item 4.6)15,095
8.5Unused finance facilities available at quarter end (item 7.5)-
8.6Total available funding (item 8.4 + item 8.5)15,095
8.7Estimated quarters of funding available (item 8.6 divided by item 8.3)4.32

Capital raising to fund the project will take place after decision to mine & proceed with the project, offtakes agreed, EPA approved & substantial government & partner funding agreed.

This will be well north of the current sp.