Ann: Letter to Shareholders re EGM, page-15

I think from memory that the mine processing plant and the port construction was the blow out from last time. This has probably been compensated by choosing to use existing rail and existing port infrastructure until such time that the mine can justify a slurry pipeline and/or a new port, (We have the My Ponie Point land purchase option still available)

We were told at the AGM in 2022 that inflationary blow out of mine processing equipment was a big surprise in the last BFS. Outlook has improved.

This time I feel that management are back on track to present best case scenario going forward.

We need the processsing plant and we have rail and we have port access. We also have significant project status as recognised by government. .

All we need now is a new shallow MRE and some funding partners, 7 of which are doing due diligence.

Small steps to a big prize, imo.

GLTAH's