Ann: Peak Mine - Chesney Exploration Update, page-6

This quarterly will establish a trend in my view. Two things are important. Firstly is that last quarter operations kept to guidance or above. This will help as far as trust of management goes and will help the cash position. Anything short of this, and with the hangover of the Board and the Clifford decisions of recent past and we are back at rock bottom. The silence should mean we have at least achieved guidance otherwise we should have had a price sensitive announcement.

Secondly its's the obvious progress towards the first milling of Federation. This has been mooted as starting in Q1 2025 so maybe 5 months away. We need to be on track or ahead. Again anything less and it should have been announced as this is definitely price sensitive. So the decline development and all infrastructure must remain on schedule. Added to this, there are a couple of intervals of gold at 100+g/t that are near surface. It would be enlightening to know when we will mine these. Surely the plan should give us an indication of timing. At over $3000 AUD/oz, this could give us a rapid cash boost and set the share price in motion. Surely we have to go 20c+ once Federation kicks in. So the nearer we move towards milling date, the closer we get to a more realistic share price.

Additionally any upside in Peak production would be a bonus. It has outperformed on a number of prior occasions so it wouldn't surprise if it did so again.