Ann: Quarterly Cashflow Report - September 2023, page-9

Update is a status quo. Still waiting on assays for REE and updated MRE, TY, money intrusion jv assays as well.

All potential SP movers. So paitence is a virtue.

Two items I noted with a bit of surprise.

1. No update on return to TY. I thought this was priority. I know it needs to wait till after the wet but think it should be on list as May / June 24.

2. I notice even FQM not immune to market sentiment. SP down 50% to $11usd in Oct. Seems to be driven by its proposed cu mine in panama not getting local government support.

This could free up more opportunity for DRE at the jv and even a jv for TJ if the drilling program gets prioritised. We have less sovereign risk just need to proove up economic resource.