Ann: Trading Halt, page-20

Hardly speculation the ballpark figure is known and the decision is known, the $10m already deposited by GRR goes to to the winner of the case TCM , the final balance within the initial estimate and payment timing to be decided....it could be a little less but likely a little more but either way we are parting with some cash and the show goes on...

Cheers Whisky

Red River’s current estimate of the potential amount payable for unpaid and future royalties is $20 million. The final amount payable within the initial estimate and the timing of the payments has yet to be determined. Prior to these Proceedings, the royalties had no cap on the time period or dollar amounts that would have had to be paid by the Company from Thalanga. Once determined, a final amount for these royalties will crystallise and Red River will have no ongoing royalty obligations to TCM. Red River and Cromarty Resources have filed a notice of intention to appeal the decision with the Courts. (Further information see ASX Announcements 25 February 2019 and 7 June 2021).A stay on the payment of the judgement until the outcome of the appeal is known has been agreed subject to Red River placing $2.5 million into trust before the end of the September quarter, followed by a further $5.0 million in October and $2.5 million in November. These deposits have and will be made from cash reserves. These funds will be released to the party that is successful at the appeal.