Ann: Results of 2024 AGM, page-25

Hi Happ,

I didn't say I went through all the posts and I don't want to. I also didn't say there was "no reason" for people to be negative. I didn't mention all the other items associated with your perceived "deceit" but I did mention the delayed ramp up.

Your first three points are not related to my discussion and are focused on why you think there should be negativity on the thread. However, you raise a good point on the payables even though you won't see specific recognition of these on the quarterly cash flow statement. Paying those invoices will come through as a cost of production since it will be for things like: contractor costs, diesel and HV parts. Note that fixed costs between Q2 and Q3 would have been about the same. Variable costs (diesel and parts) would've been slightly higher due to more material being moved (520kt vs 630kt).

The payables position remains a cause for concern until we see the accounts. That said, I think your position of "they're screwed because of the paybles" ignores the additional revenue incoming this quarter.

Thanks,