Ann: Scoping Study to assess development options - Skaergaard, page-24

It is now 6 months since this announcement to market and today marks 5 months since the January Investor presentation was released which included the line.

"Scoping Study underway to best determine pathforward for the project"

Today also sees Gold price hit $1400 USD an ounce with the current USD-AUD exchange rate at 69c to the $1.

Skaergaard's Gold, Palladium and Platinum in ground value as of today's prices:

Gold - US$7,971,690,000 (AU$11.5bn)
Palladium - US$12,796,920,000 (AU$18.46bn)
Platinum - US$559,590,000 (AU$807m)

Total = US$21,328,200,000 (AU$30.7bn)

This doesn't include any credits from other minerals present that weren't previously included such as Rhodium, Vanadium etc.

6 months and no news. Has the company decided not to continue the Scoping Study? Is the Scoping Study ongoing and just moving very slowly? Or did they lie to us in the first place and tell us a Scoping Study was underway when it wasn't?

I don't know what else to say tbh. I despair.

Cheers,

DMac