Ann: Noosa Mining Conference presentation, page-49

A few days ago there was a query as to why we hear nothing lately from Novo and I replied in somewhat negative terms. i have just listened to a presentation by the two Co- Chairmen of Novo Australia.
Essentially, Egina is the No 2 project in Australia after the operating Nulligine mine. It is referred to as a development project, not an exploration project. Quentin Hennigh says they are expecting further lab results early next year and will then plan their next steps. He says they are satisfied with the technical results from the sorter trials. He used the words"the tester results (from the sorter) are fantastic". The sorter, currently at Nulligine, will be moved to Karatha for a 20,000 ton bulk test and then to Egina. He also said that Egina will have an increasing emphasis is 2022.
He spoke of the continuation of the Hemi deposits into the Novo leases at Egina which seem to excite him. As far as I know these trends only appear to extend into ESS ground to a minor extent.
Other notable comments were that there is no requirement for a JORC resource to have a mining licence granted in WA, which I knew, but seems to be regarded as a stoper by some. He said that they were contemplating four, five or more sorters at Karatha. and that they could not apply for a mining lease till they knew the scale of the operation contemplated, which wouls require further investigation. I thought it was all rather exciting after a fairly long silence on the matter. He did say that he did not contemplate any problems with the native title holders.
And then there is the Blair nickel mine which is an exciting prospect, of which we hold 25%. It is in the hands of private companies and we are unlikely to hear much till they really want to move but they are beavering away and nickel is one of the exciting battery metals expected to be in high demand in the near future.