Ann: Quarterly Activities Report and Appendix 5B, page-17

1. This was envisaged in the previous Quarterly Report .

"The Feasibility Study for the Phase 1 L-Max® plant remains on track and budget for completion during the second half of the 2018 calendar year. However, depending on the initial assessment of the work being undertaken with Laurentian University, the timing of the Feasibility Study may be revised to accommodate and permit the use of L-Max® residue as a commercial product, so as to imbed the envisaged economic benefits into the Study."

2. It is not going to delay the project. From this quarterly:

"Grupo Mota has commenced work on an Environmental Impact Study at Alvarrões, which is scheduled for completion in the March 2019 quarter. A permitting and approvals schedule has also been developed following consultation with regulators. This represents the critical path for the project." Based on the prescribed process time frames it is estimated that the requisite project permits would be received during the second half of 2019."