Ann: FireFly appoints highly experienced Director, page-9

This is my back of the envelope Calc.

Look at slide #9 from today’s presentation. Compare Green Bay to Cobar.

Cobar has mkt cap at $1.7b vs Green Bay $0.4b.

I am expecting two huge resource increases this quarter and Jun’25 quarter and should take contained copper way past Cobar.

At present Cobar is 4.25x Green Bay Market Cap. If all else equal Green Bay should be worth $3.40/share. Add at least one third for resource increase takes SP to $4.50 allow $300m to get a processing plant built and gives approx $4 per share.

This is approx and not finanivpcial advice. But it gives me a sense of where this may go. It could take 3-4 years. Starve Parsons got Belleview Gold into production in about 4 + 1/2 years. We are about 1 year in already. And Green Bay is really an active mine whereas Belleview was dormant for years and years.

This is just how I do a quick and dirty calc.

Cheers,…..D