Hey Ned,You've gotta stop taking those Bear Pills and look on...

Hey Ned,

You've gotta stop taking those Bear Pills and look on the bright side!

Just to clarify, there are no "ongoing delays" with the mining concession or operating licence, in fact there are no delays at all, timing is going according to plan. There is no way that the company would have signed off two essential contracts (Port and Logistics) if they were not confident (read heads up) that the concession and operating licence were imminent.

Mining is an essential service in Brazil and this applies to the mining approval process as well.

1. Presidential Decree nº 10.329, from 28 April 2020 and Ordinance nº 135/GM dated 28 March 2020 from the Ministry of Mines and Energy have declared mining as essential service. This means that any of the restrictions imposed by the states and municipalities do not affect mining operations;

2. The company continues to reinforce its covid-19 protocol to protect its employees and maintain operations;

3. In Sento Sé municipality, where the project is located, vaccination is underway and there are no major outbreaks at the moment.

Regards

Pihrana