Ann: Update on notice received under sections 203D(2) & 249F, page-5

On a different note and hoping that management reads it:

The past couple of months with the general market decline left a variety of good quality exploration companies with quality assets at depressed valuations.

One company that comes to my mind and could be very attractive for X64 and is also located in the Philippines with a very promising Copper-Gold-Porphyry project (MCB) is Celsius Resources (ASX:CLA).

They are currently valued at roughly 21 MIO AUD Market cap and received priority status for the MCB project from the Philippines government due to its high grade copper/gold and promising scale.

Recent intersections were among the highest grade/length I've seen to date during my time of investing ("Celsius hits 611.4m @1.39% copper and 0.75g/t gold at MCB", dated 04/07/2022).

Project Capex is predicted to be around 245 MIO USD to attain an annual production of 23kt copper and 27koz gold in concentrate. C1 Cash costs are around 0.78 USD/lb and among the lowest costs quartile world-wide. The current JORC resource for the project is 1.5Mt contained copper and 1.5Mio oz Gold.

We have more than 80 Mio USD in cash and could easily afford an acquisition like that. Either via cash or a scrip takeover. Then we would have a second project with a Capex requirement that we might be able to finance either via our cash held at bank or partly debt leveraged.

A second project with copper as a different commodity (and needed for the energy transition) could help us attaining a proper valuation on the stock market and would create significant cash flows/dividends for shareholders.

In any case, our current valuation with 95% cash backing is a joke and needs to change. Lots of opportunities out there and I hope management takes advantage of some of them.

Cheers, and I bought more today as the market must come to its senses eventually.