Ann: Quarterly Activities Report - December 2022, page-3

Approx 10% more gold sold than produced equals an extra approx A$5M revenue over and above the cost of ounces produced. That is to say that the value of the ounces produced during the quarter do not cover the cost of producing those ounces.

Also understand that all development, exploration and sustaining costs have ceased. These costs would normally feature in AISC meaning that the ounces produced in December quarter relied on previous quarters AISC investment but contributed nothing to the next quarter's production. There will be a material cost to re-establish production.

Robbing Peter to pay Paul...