Ann: Quarterly Activities Report, page-59

Yes agreed.

What a frustrating company and leadership team - they just keep whipping out the same presentation about one day (with no specific date provided) being a future 500K oz p.a. producer - with a graph detailing their future production rate - which includes a fully operational McPs.

Now out of the blue (in a matter of weeks) they have pushed out the investment decision making on McPs by a year or so and dramatically dropped the guidance.

RRL leadership need to start taking some responsibility and develop a real plan to take the company to the next level - because shareholders are witnessing its share price being destroyed while the gold price goes up.

The scary thing is that the company will still generate a lot of free cash in 2024/25 - but it’s maybe the years after which have investors nervous.