Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-3

JUNE 2021 QUARTERLY ACTIVITIES REPORT
Bardoc closes-in on development of new high-margin +130kozpa WA gold project after receiving
high-quality project debt funding proposals from leading financial institutions; Mining Proposal
submitted for Zoroastrian as optimisation continues ahead of a Final Investment Decision
BARDOC GOLD PROJECT, WA (BDC: 100%)
Project funding and development gathers momentum:
• Indicative debt funding proposals received from multiple high-quality financial institutions for the
Bardoc Project. Given the number of competitive proposals, the Company will now short-list
potential lenders.
• Optimisation of the March 2021 DFS continuing aimed at enhancing the production schedule,
growing the production rate and improving project economics and returns, building on the Project’s
already strong metrics which include:
− LOM All-In Sustaining Costs (AISC) of A$1,188/oz;
− Average annual gold sales of 135,760oz over 8.2 years of mill production;
− Pre-tax NPV (6%) of A$479M and 41% IRR; and
− Ore Reserve of 15.9Mt at 2.0g/t for 1.007Moz (at a conservative A$2,000/oz gold price).
• Mining Proposal submitted for the Zoroastrian mining operations, processing facility and
construction of the waste land forms and tailings dam.
Outstanding drilling results confirm strong potential to grow Resources and Reserves:
• New high-grade drilling results from the Omega Lode at Aphrodite, outside the current Stage 1 open
pit design:
− 5m @ 3.99g/t Au from 67m in 21APRC0042
− 14m @ 7.63g/t Au from 106m in 21APRC0042
− 2m @ 13.8g/t Au from 140m in 21APRC0045
− 7m @ 2.35g/t Au from 123m in 21APRC0047
− 5m @ 2.60g/t Au from 63m in 21APRC0041
• Excellent new assay results from the Sigma Lode, located immediately south-east of the planned
open pit at Aphrodite:
− 5m @ 17.7g/t Au from 109m in 21APRC0019
− 15m @ 1.49g/t Au from 97m in 21APRC0027
− 7.7m @ 2.98g/t Au from 133.3m in 21APD0007
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• Promising geology intersected at the Gamma Lode (not currently in the Resource model), located
450m east of the Alpha Reserve Pit, with excellent assay results including:
− 9m @ 2.36g/t Au from 70m in 21APRC0007
− 16m @ 1.04g/t Au from 76m in 21APRC 0008
• All results reported from the Omega, Sigma and Gamma Lodes are located outside of the existing
Resource model, highlighting outstanding potential for future Resource and Reserve growth.
• Diamond drilling underway at Zoroastrian to test for depth extensions of the high-grade Blueys South
and Zoroastrian South lodes.
CORPORATE
• Publication of the Company’s inaugural Sustainability Report outlining Bardoc’s commitment to
operating sustainably.
• Cash reserves of A$12.88 million at Quarter-end.