Ann: Hog Ranch Gold Trend extended, page-9

At the Noosa Mining Investment Conference in July, RL said RXM was too small to run two mining operations, so that seems to imply that they will not go to production with Hog Ranch. The best time to change their control of the asset would be when they have established the extent of the ore body. This could be after another season of drilling followed by 3-4 months for assessment of the results, i.e., first half of 2024.