Ann: Mineral Resource Update Drives Mt Carbine BFS Optimization, page-32

A couple of things to maybe ease your concerns.

Kevin knows EQR has 100% of the hardrock and 50% of the stockpile. Sometimes on live radio, things come out not quite as you would like. He said the halving at the end rather than in the middle of the sentence.

The money raised has been used for JV, plus drilling (all EQR) and the cost of the BFS (all EQR). The extra gear that has recently arrived may not have been EQRs. It might have been funded by Cronimet. Some of the gear has been for the quarry as well. I'm sure they have accounts that cover the costs.

I understand the Oliver issue and I also had some misgivings initially. However, the fact that Oliver is chair of what was a small <$20m company when they started is a signal how important Cronimet think this relationship is. Oliver employs 1000's of people in many countries. He's not short of things to do.

The reality is, if Cronimet didn't take a serious interest in Mt Carbine then we would be a sub $20m and maybe not a company at all. We wouldn't have Kevin's expertise, who has spent months patchworking an old kit to get to the feasibility phase. RK and previous MD's kept alot of wolves away from the door to keep the deposit in our hands. There have been a lot of big fish wanting to screw this company over. Unfortunately you don't have alot of bargaining power when you are always cash poor.