Ann: Investor Presentation - Resource Rising Stars Conference, page-40

morning all,

yeah Brama was initially going to be out by now. They pushed it back when they had that first big gold heavy hit at Alba. Silly not to delay it and see how much more is there I suppose. Although, not sure what harm there would be in saying we’ve got an MRE of x Au, y Cu, SO FAR and “excluding” the recent large Alba intersections. An updated MRE will come out at the end of this year that would include Alba etc.

one reason is they may not want any big guy to come sniffing too close just yet? We know from experience, the big guys prefer to wait to move until at least DFS, generally BFS. They’re happy to pay more for more certainty.

whatever the reason, I’m happy continuing to back our outstanding management. I’m also now down on my STM after loading up in the recent raising. It always was a medium/long term play for me and still is. I just wish I was not in my bear cave. But prudence at my 73 years of age demands I stick to my very conservative investing these days.

unfortunately, the US markets still have a long way to fall. Probably see a reflexive rally this week, as it looks heavily oversold short term. But the macro factors of that triple whammy (rising rates, high inflation & QT), mean the bulls have no hope.

good to have reasonable cash in hand to keep drilling regardless.

cheers,

ned.