Yes Kepplelman and the CYL/SGI joint presentation highlights one...

Yes Kepplelman and the CYL/SGI joint presentation highlights one of the many issues facing SGI shareholders who wish to vote ‘NO’: Especially on page 18 which states: “AISC costs consistently well above gold price” (however this figure is worst when you consider adding in the hedging and options costs due to conditions imposed by Auramet) but the real head kicker is highlighted on the same slide “All-In costs are not publicly reported” !!!

So why given the chance didn’t SGI shareholders who wish to vote ‘NO” ask the following questions:

- The last financial and cash flow report dated March 2023 showed substantial losses ($7.3M) and a negative net cash flow (minus $2.3m). It is now the middle of June, can we have at least an update to the end of May 2023? Has the situation improved or gotten worse?

- Given that we (SGI) are technically insolvent is there a plan B for operational and funding arrangements if the ‘NO’ vote wins?

- Given the anecdotal evidence of high staff turnover what is current net head count position? If net negative does this make the current situation of 6/7 missed revised guidance worse by adding to the other excuses: Strategic planning disruption, Extended planned and unplanned maintenance, rain, more rain, COVID, rebound COVID, long COVID, poor performance from subbies and Main Pit Deeps project, which lost $15m etc?

- If turnover is high why are staff and contractors leaving? Morale? Payments?

- Are mandatory quarterly superannuation payments up to date? The Australian government has recently mandated for monthly superannuation payments? Will SGI be able to meet this legal requirement?

- If the “NO’ vote wins will the BOD resign on masse? Will golden parachutes circa $5m be paid out immediately? do we have the funds?

- If the “NO’ vote wins will CYL be paid a termination fee of $2m immediately? Do we have the funds?

- How does SGI plan to fund the legal costs on appeal over the next three years to the High Court?

- Given SGI’s wonderful court ‘win’ on K2 which was handed down over 19 months ago but where nothing has progressed, is it true that under the terms and conditions of the court order that time has lapsed, and the orders are now void?

Apologies in advance. My law professor repeatedly advised ‘don’t ask questions you don’t already know the answers to’ !