PEA interview CG, page-9

Sorry did not take notes.
Highlights
25 potential off-take partners. EOI's in October. Potential pre-payment
PEA based on 26Mt resource. Numbers will grow into DFS
Conservative spod price
Tender for for capex may be $200m US
Hydro-electricity `~2-3c/KwHr
ASC ~ US$536/t
In discussion with Braziiian banks.
Ideally, fund project by debt and offtake and raise very little equity
Shipping cost to US$80/t reduces ASC < $500/t to US
DFS June 2024.
Two phase mining process. Ph1, ramp-up over 3 years. Pays for phase 2 to run to full capacity with full production in ~ year 3
Currently, flat 3 years with big step-up in year 4. Not realistic due to ASX rules.
Tony looking for more drills. Will increase resources from indicated to measured. Will lead to more realistic mine schedule.
Pre-strip currently 17:1. Further drilling to SW will reveal better grades, reducing strip ratio.
DFS will identify more realistic numbers over life of mine.
Presently 11 rigs on site. More rigs desired to increase in-fill drilling to increase resource from inferred to measured. Critical part of DFS process.
Continue exploration to SW. Aiming to increase resource by end of year.
Fogg's still being drilled with optimism. Appears similar to Colina. Hoping to include in next resource update.
Fully ESG compliant output.