Ann: Investor Webinar, page-9

I tuned in and thought it was a measured and candid update on what challenges the company has and continues to face. Broke presentation into three parts
1) Sunrise Nickel/Cobalt 2) Syerston Scandium 3) Exploration

In answer to multiple questions on financing progress (or lack of) he basically said outside of Indonesian Nickel there is little appetite for new investments for the time being. Major theme was value still sits in the ground but reading between lines little hope of any newsflow or development in the near future (no great surprise)

Investors should consider Scandium as a standalone project not related to Nickel/Cobalt. GR Engineering update should be complete within next few months and will cost few hundred thousand dollars to complete. Offtake commitments of approx 20 tonnes per annum of Scandium would be required to move to development however development of new Alloys and acceptance by Automotive partners would create significant extra demand should it arise. Touched on Rio's project next door and the potential to consolidate or Partner (didn't rule it out).

On exploration major focus was on earn-in and partnership with Continental Copper in QLD where they are finalising plan to begin a drilling campaign 2H of this year. Also some discussion around 3500km2 of pegged ground in the Lachlan fold belt and potential to partner with others going forward. Current Cash should be sufficient for next 12 months however if early success was had in QLD there would be a willingness to accelerate.

cheers