Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-151

Glad to see you are taking some interest in this stock Scarpa, I bought a while back when the delfin project was initially announced. I bought in at 3.9 cents, which was a good risk vs return for me. The downside was limited to the cash at bank at the time but the upside was double your money in less than 12 months. I am waiting till they announce an acquisition in the battery metals space and hopefully we receive a nice little uptick/impetus in the share price, the share price has started to move which makes me curious as to whether some people are already in the know. I am giving management up until 31 March 2023 to announce an acquisition as that is more than enough time to hone in on a project, as the delfin project was terminated back in September. They are quite slow movers and certainly lacking in the communication department, however, with that said would prefer them to conduct their due diligence and pick the right project. I will free carry this investment the first opportunity I can, predominately due to the broader macro environment and management’s slow moving style. Cheers, CP.