Thanks Roy, so neither AAR or GBR in production which makes the...

Thanks Roy, so neither AAR or GBR in production which makes the GBR case even more compelling.

Based on AAR scoping study GBR's Ironbark is smaller and simpler with less capital demand which means we could potentially get to production first. Ironbark is not intended to be a company maker but a very strong cashflow provider as we work to develop the main prize. Ironbark could put an end to ongoing dilution and potentially provide the capital to build our own plant as well.

AAR are doing well and I am not knocking them, I just want to highlight GBR's relative undervaluation.

Note: From the AAR (Astral) presentation - Not GBR