Ann: UPGRADED POWER LINE COMMISSIONED LEADS TO RECORD PRODUCTION, page-6

Hi Plonka

I like your thought process. I'm no expert but my understanding is 50% relates to the grade of tungsten.

40t produced, being 20t to EQR and 20t to Cronimet.

1 ton is 100 MTU.

APT price of $300 USD is at 88%

Not sure what the 50% price is but it's probably about $A15k-$17k.

So probably about $300k to $350k cashflow based on the above.

Moving towards 90t will be great assuming no cyclones and COVID (staffing issues). The wet- screen and 2nd ore sorter will be the kickers towards 90t. They are still be installed.

The open pit will give a grade of 65% which is a higher price.

The pieces of the puzzle are coming together nicely