PROMOTION, page-58

Thanks for that, I do get a bit sick of this "we can't control our JV partner and they aren't listed so they don't have to report line" that has been trotted out ad nauseum going back as far as the last JV partner. I mean after the last JV partner failed to deliver they jumped straight into bed with a new JV partner with strong links to the previous one and no seem surprised they are behaving the same. At least this time around they got the minimum royalty provision thrown in, even if it is 2 years away from being paid.

Also while TCMG doesn't have to report to the market - surely they have to keep their JV partner, who has tied the whole ability to generate income to the establishment of a mill by TCMG, informed and that JV partner has an obligation to follow ASX reporting rules. Given the last ERM update on the mill suggested it would be delivered by the end of 2023 surely 2 months into 2024 we are entitled to some update on where things are at?

On TCMG going to use the mill to process their own deposit - as far as I know that is only tailings from a previous mine and I asked Rob Bills specifically about this and he assured me that TCMG would want to prioritise ERM mines as the grade is significantly higher than anything they would get out of the tailings - although I assume processing the tailings is far, quicker, cheaper and easier so read into that what you will.