Ann: HEAVILY OVERSUBSCRIBED PLACEMENT TO FAST TRACK DRILLING, page-24

Bouncy!

+20%

100Moz AgEq resource.

MD: can easily double/triple resource size.

Now drilling to expand the resource size.

Neighbour/closest peer (SVL) is at 5+ times the valuation of ARD and it's resource is ~2.5 x ARD's.

So once ARD double/triples its resource, does that mean we go to SVL's market cap of $230M (and why wouldn't it mean that)??

See how much ARD resource expands towards SVL's size with the current drill!

But how things have changed with ARD hey? Drill, after drill, after drill, after drill..currently - not so much drill before the new Management came in!

No point having great assets if Management just sits on them - great to have George and his PLS co-pilot Stuart onboard and everyone behind the scenes too - could turn into a sizeable company!

Cheers,

GB.