Ann: March 2024 Quarterly Report and Appendix 5B, page-11

Need cash for sure. No way around that.

I think the key for anyone that is paying attention to why we are all here though was on page 1.

5Mtpa SS last year was based on 1.28Moz ore reserve and production of slightly over that at 1.36Moz.

We now have a 3Moz deposit with 80% M+I that is eligible to be used as an ore reserve.

SS used a $2,200 pit optimisation. Given move in gold price this could easily be moved to $2,500. This likely means that all (or near to) of the 80% of M+I can fall to reserves.

Ala 2.4Moz. That gives us a 15+ year project. M+I grade about 1.07g/t vs 0.96g/t used in SS. Should push annual ounces up slightly.

Remember year 10 on a discount model at 5% only adds 60% of cashflow but that is still going to be meaninful to NPV. If use NPV8 this is more like 46% but again still helpful.