Ann: Quarterly Activities Report, page-2

We see Aurelia has slightly exceeded targets in Gold, lead, zinc, copper mined.

Aurelia has also over delivered and under promised by getting the AISC under guidance, that is surely a positive.

I did note a difference of around 25% higher AISC on the previous (June) quarter ($1,848 vs $1,337 annual FY21 average). Perhaps this is because they are drilling out Dargues, but that is simply my own speculation.

It is good to see even the low end of anticipated output from all mines (except Federation) increasing- 112-123k oz FY'22 vs 103k oz FY'21 actual. An projected improvement at the low end of 8.03% on the low end, or 16.26% on the high end.

Let us hope FY22 output will be exceeded, while carefully controlling the AISC - it cannot go any higher than it is.