Ann: Investor Presentation - Brisbane Minerals Metals Conference, page-175

I think your evaluation of the Noosa presentation is quite sound. From my perspective, however, while I watch these presentations I don't read too much into them, for three reasons. One, they're not directed at shareholders and therefore contain a broad whole-of-company summary, which everyone here knows already. Two, they're always crammed into 15 minutes, that places the presenter under pressure and prevents any meaningful discussion on specific projects or topics. And three, as per ASX rules they don't contain any substantive or price-sensitive information.

Almost everything in the Noosa presentation we've heard before. The only significant timelines mentioned were the DFS coming next week and the company committing to breaking ground later this year. There was more focus on the copper/gold/REE legacy projects than I was expecting. The update on the CC pilot plant was poorly handled - "not yet arrived due to shipping and logistics delays" wouldn't have raised too many eyebrows but "we don't know where it is" sounds clumsy and unprofessional.

Anyway, FWIW it's worth I don't care too much. The test of a company is what it does, not what it says at conferences, and the first part of that test is the BFS in the next few days.