Ann: Updated Scoping Study Results Lake Maitland Uranium Project, page-74

45mins.50secs

Skin in the game question. Dodged that question well. One of the directors is the CEO of a major shareholder that holds 7%. However as per annual report no directors hold stock. So its an indirect holding at best, not really a holding at all. 2 directors put in money in a recent financing. Wonder what it was and how much?

He described incentives as long stretch. And finished by saying 8-9% overall. It must be noted his holding is 10,000 shares or $3500 on last AP. His long stretch incentives though if struck are 400,000 shares or if struck $1m worth

Overall got the sense of a very valuable project yet nothing overly inspiring there due to WA policy as it stands. Just got a wait and see what direction instos take this. Demerger towards end of year, possibly an update there next qtr. Pilot plant cost $3M currently working on plans, commissioning end of year. Maybe some news there along the way.

Got a sense that the next raise will most likely be after pilot plant up and running.