Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-40

Congratulations on your trading profit. I cannot compare IVR or any other company I have ever been a shareholder in to BML as if you are intellectually honest, BML just keeps on not delivering. The BML presentation of 11 April 2022, when the company disclosed that the DFS was about to be released, was a major turning point and without going back to the presentation the share price at the time was $0.43. The current disaster of a share price is due to consistent non delivery and it is painful to watch, even as a very relieved non holder.

I am not an apologist for any company and I don’t have a poster of Andrew Mcllwain hanging above my bed. I imagine I will be long gone from the IVR share register before we enter 2024. I will, however, attend the IVR AGM and ask pointed questions about project financing, citing BML as an example. Ironically, if I had remained a BML shareholder I would be dead keen to attend the AGM but I would not be able to afford to travel there!