Ann: Presentation - Virtual Gold Conference, page-3

p4 "Visibility of a million-oz's of gold by early 2021............" What "Gunners" - they have been kicking this can down the road for at least 5 years thus far - This is one of the BIG reasons their Mkt Cap is not performing against their Peers p22. Interesting to note that if Stawall North (which I reckon is highly overvalued) lists at a premium - then NML will regain it's position as the lowest Mkt Cap in VIC. Actually it's a terrible slide (slide/page 22) - because it's sort of trying to say that the investment community have got it wrong (not the directors!). It just highlights the BoD terrible track record thus far (last 10 years or so) - for a company that has been operating in Vic longer than any other (sort of very "Daniel Andrews" - not our fault/everyone elses fault)!