The following is an example of the update on the FEED work from...

The following is an example of the update on the FEED work from Bannerman (latest quarterly activities report)...we got nothing resembling this from AEE in the October Activities where the FEED was due to be completed in Q4. Clearly - AEE needs to left it's game.

Overall, the Front-End Engineering Design (FEED) activities for the Etango Project are advancing according to schedule and within budget. Significant progress across various workstreams was achieved during the quarter.

This work continues to proceed in a measured, systematic fashion with retention of substantial embedded flexibility onproject execution and a highly controlled, restrainedspend rate prior to any Final Investment Decision (FID) being taken.

• Process Engineering:An Ion Exchange (IX) circuit for heap leach rinse water is now integrated into the SysCad model.This advancement wascomplemented by the completion of the Piping & Instrumentation Diagrams (P&IDs) for the dry plant, required for detailing the plant's mechanical systems. The design for potable and freshwater systems on-site has also now been finalised. Two of four heap leach cribs for advanced metwork refinement are currently operational,withsimultaneous treatment of solutions through IX.
• Mechanical Engineering:Mechanical packages have been prepared for market inquiries and bids are being actively evaluated. Orders for seven essential mechanical supply packages have been placed, advancing the detailed design process. Development and market issuance of structural, mechanical, and piping (SMP) packagesis complete, along with finalisation ofbid evaluations for SMP conveyors. Mechanical layouts for the front end of the plant have also been completed.
• Electrical, Instrumentation, and Control:Early works and the development of Single Line Diagrams (SLDs) for the fixed plant have advanced. Preliminary Load Lists have been updated, accompanied by energy cost calculations. Innovative options for on-site power generation, such as modular solar power and potentially floating solar panels, continue to be evaluated.

• Civil, Infrastructure, and Earthworksackages for bulk earthworks, the construction camp, and bulk concrete have been issued to vendors for pricing. The ripios dump design is on track, with final testwork in process.
• Environmental, Social, and Governance (ESG):The Human Rights Due Diligence process and the Summary Environmental and Social Impact Assessment (ESIA) documentshave both been completed, further ensuring adherence to high standards of social responsibility and environmental