Ann: General Security Agreement, page-421

Hey Brother, only focusing on the things cause they are linked to the delivery of the first resource estimate requirement are they not? Assuming there is no more wiggle room and MRE has been pushed to 29/7/21.. I'm happy to separate them if people tell me how?

And I didn't right em or link em and I'm happy to separate them if people tell me how? But the dates are there in the prospectus to extrapolate from and deliver of a resource estimate is a vesting condition, along with the BFS in the amended rights notice issued in Nov 2020

What I did believe though was that with the FS coming 6 months later that the estimate would at least be in the indicated category and probably greater than 250k at 1 g/t in meeting the economically viable criteria of the BFS..

Why the vendor sale agreement had a different date for the BFS to be delivered Jan 2022 and yet Zeff had till 2025 is a curiosity and also an update to the operating plan circa Nov 2020, no mention in earlier prospectus so assume it came in after AGM perhaps.






And so if we are to believe that the initial option agreement was scuttled to reduce pressure on delivering the FS then it is reasonable to assume that it may not be delivered by end of Jan 2022.

Ergo does the old workplan we had in place prior to the new 12m workplan and JV agreement being struck still hold as I would assume that the FS would have been the driver for determining critical path.

Hopefully we get an update of the company this week as to JV status, terms and perhaps what this updated 12m workplan entails..

We are probably due because the JV renewal classifies as a material event and therefore I'm not 100% convinced we can still retain absolute faith in arrangements put in place prior. They may all be the same, no change, in which case just let us know and then we move forward with confidence again.

8tey