Ann: Quarterly Activities Report - 30 September 2017, page-2

Dubbo Project (DP)

The modularised build study being conducted by specialist engineers, particularly Outotec, will
be completed in the current quarter.

Upward price movements in the zirconium chemicals and powders, and rare earth magnet
markets have continued.

Tomingley Gold Operations (TGO)

Strong gold production in the quarter of 24,122 ounces at an AISC of A$982/ounce continued
the excellent performance from the preceding quarter.

Site operating cash flow after development costs for the quarter was A$14.0M.

Quarter Results
o Gold production was above forecast at 24,122 ounces
o Site operating cash costs were A$766/ounce with all in sustaining costs (AISC) of
A$982/ounce
o Gold sales 21,610 ounces for revenue of A$36.4 million at an average price of
A$1,685/ounce
o Gold forward contracts at 30 September 2017 of 4,500 ounces at average price of
A$1,720/ounce.

Full year guidance for FY2018 remains unchanged at 65,000 to 70,000 ounces of gold at an AISC
of A$1,100 to A$1,200.

Corporate

The Group’s cash position totalled A$53.3M with A$46.3M in cash and bullion on hand at fair
value of A$7.0M, an increase of A$8.4M from the previous quarter.

Nic Earner was appointed to the Board as Managing Director, Ian Chalmers becomes Technical
Director.

John Dunlop retired from the Board, Ian Gandel takes the role of non‐executive Chairman.