Ann: Jeffreys Find Gold Mine Activities Update, page-34

I actually doubt we are in for a Capital raise.
Much depends on timing and whether further delays occur on any of the two purchase packages,being Lindsay's and Burbanks.

31/3/25 $7.5m cash ex quarterly.

8/4/25 - $450k + gst Loaded dog tenements

31/4/25 - $500k outstanding GST

- $1m Capital + corp expenditure for 6 weeks to 15th.

15/5/25 $5.5m cash stated in discussion

20/6/25 Lindsays tenement court hearing

1-30/7/25 booked milling of Jeffries find ore expected to raise $3.5-4.5m

7/25 - 8/25 ** - $2m cash + $2m shares current Lindsays current settlement ex discussion.

7/25 - 8/25 ** - $4.4m + GST current Burbank’s current settlement ex discussion

8/25 *guess + FIRST MUNDA ore to mill or already milled my est 30- 60kt plus

8/25 *guess +$3.5-4.5m Jeffries Find Payout. Estimated 7/25-9/25

8/25-9/25*** +++++++ +First Munda cash flow from mill run or income imminent

10/25 - $1.7m Footes Find/Amorphos expl. budget for rest of financial year

10/25-11/25* guess SECOND MUNDA mill run? 50kt

12/25*guess +++++++ +2nd Munda cash flow.

1/26 *guess THIRD MUNDA mill run

.

*Indicates All items open to time shift.

**Lindsay’s and Burbank’s, open to further delays,DELAYING settlements.

***Munda estimate open to earlier cash flow due to earlier ore Milling if possible

So expected incoming CASH confirmed of

$5.5m cash balance plus $3.5m from Jeffries in 3 months = $8m

60kt of Munda ore mined and likely milled,lets assume similar returns to Jeffries x 2 income

So $8m + $7-9m profit after all mining and milling expenses from a 1st Munda MILL run = $15-$17m by 30/9/25

So $15m

Less $6.6m of commitments on purchases.

Leaves $8.5m CASH to fund ongoing Munda mining and pre-strip or to start playing with a mill or a second mine site at Lindsay's as mentioned.

DYOR + DYODD Bargain buying from around the 18th May every year on the ASX