Some on this forum are being a little too negative. Yes, the...

Some on this forum are being a little too negative. Yes, the numbers are not great but there is room for improvement which improves the numbers.

1) Gold hedge is 126,835 ounces at A$2,367 to September 2025. Any production over this amount can be sold at spot. At 75,000 ounces per year and 2.5 years. That is an extra $23m over the period or $775k per month or $2.3m per quarter and takes care of the interest bill on its own.

The above does not include any gains from a re negotiation of the interest rate or loan period, or a reduction in capital repayments etc.

2) Potential to realise funds from the spinoff or sale of the Pirra Lithium asset.

3) Gains from a decreasing strip ratio from 4.8 to the average LOM at 3.3

4) Gains from a decrease in ore loss and dilution as the get better with time.

5) And finally, I would suggest that there is potential to incorporate Blue Spec and Felix prior to underground mining at WGP. A blend of this higher-grade ore with the current < 1g/t will increase gold production, increase recovery rate, decrease the AISC, reduce and defer the capex required for underground mining, and it will potentially eradicate the need for a capex driven capital raise.

I will cut and paste comments by DR in the quarterly.

· Steady state operations resulted in positive operatingcashflow generation in December month.

· Positive cashflow and steady state operations nowprovide a clear pathway to increasing production to 130,000 ounces pa.

· Commercial production was declared in January 2023following the commencement of steady state operations. Positive net operatingcashflow is expected in the March 2023 quarter.
· Positive net operating cashflow is expected in theMarch 2023 quarter hence operating costs are expected to be funded from goldsales.