Relevant Excerpts from Lake Update Webinars, page-88

The topic covered in this transcript is: Describing the last 30 days of Scott Munro's progress points leading into the DFS - Part B: Resource to Reserve, pricing equipment for CAPEX and OPEX estimates, EIA, statutory consultations, continuation of pump tests and reinjection as well as overall schedule.
Sourced from Update Webinar #2 on 28/9/23
Commentary made by Scott Munro - SVP Technology Strategy and Risk

SM: "It drives a lot of the rest of the project, but we've used this time, we've been working with our friends in the hydrogeology groups. They've been asking for some modifying factors as they start to think about the next phase of the “resource to reserve” calculations. So, we've been given the input for that. Equipment lists are now frozen as well so we now know (based on the process design) what equipment we need to go and procure, so we’re out engaging with the market to get pricing back for that. That will then feed into the CAPEX and OPEX estimates, which is a key part of the DFS output. So that process has been started and it will take the next two and a half months. That is, as they often say, the “long pole in the tent”. That's the part that that holds up this whole thing. The EIA is progressing on track, so we're still on track for submission at the start of next year. We've now handed over the key deliverables from hydrogeology and process design to our EIA contractor so that they can start their work. We've also done a number of the statutory consultations in-country and that's an ongoing process where we meet the local community and meet the local authorities to make sure they're up to date with what we've been doing. I know we've been continuing pump tests because that's been a key area of focus on reinjection and we invited the local authorities to come and witness that work as well. So, good progress all along the activity streams and work is on schedule with no slippage."