Ann: Increased Tungsten in Updated Mt Carbine Mineral Resource, page-3

A quick back of the napkin calculation based on the increase of 784,400 mtu of 100% WO3.

Assuming all is mined.

784,400x0.75 =588,300 WO3 extracted (75% extraction rate(closer to 80% but we will leave it as 75%))

588300/0.5= 1,176,600MTU - converting extracted WO3 to 50% concentrate MTUs

current APT price $340 USD -> $488 AUD

discount for concentrate price vs APT price 77% 340*.77= $262 usd -> $376 AUD (unsure if 77% is correct, but hopefully close enough)

$376*0.57= $214 AUD per MTU of concentrate produced. 0.57 is the conversion between 88%APR contained WO3 and 50% contained WO3 concentrate

1,176,600*$214= $251.8m AUD - The revenue added from this increase in resource based on very basic calculations/assumptions. Let me know if I have anything incorrect.