Spargos Reward

Some may know that I am very critical of previous MTH board and management regarding their abandonment of Spargos Reward. Long term investors may like to know that the present owners, Karora Resources, have published a measured and indicated resource of 105,000 oz (that's over AU$250 million at today's gold price). And they have started mining! See below from their news release of 9 August.

For the record, I'm very happy with the new MTH.

Spargos Reward Gold Mine

Preparation of site infrastructure and mobilization of equipment at Spargos progressed well during the second quarter and pre-strip of the open pit commenced in June. Mining of lower grade ore in the first bench at Spargos is underway, with higher grades from the open pit anticipated to feed the HGO mill by mid fourth quarter.

OnJune 28, 2021, Karora announced its initial Spargos Mineral Resource. The new Mineral Resource presents a 15% increase in ounces and also a higher confidence basis from which to commence mining activities compared to the historic Corona Resources Mineral Resource estimate (Corona Resources news release "Resource Estimate Update for Spargos Reward Project Eastern Goldfields Western Australia' dated onFebruary 26, 2020"). The infill and resource definition drilling efforts completed by Karora as part of the new estimate, totaling 13,377 metres, were focused on delineating the near-term open pit mining opportunity now underway.

Table 2 - Spargos Gold Deposit Mineral Resource Estimate as atJune 24, 2021

Mineral Resource	Measured			Indicated			Measured & Indicated			Inferred
	Kt	g/t	Koz	Kt	g/t	Koz	Kt	g/t	Koz	Kt	g/t	Koz
Spargos1.2.3.4.5	241	2.4	19	836	3.2	86	1,077	3.0	105	401	3.5	45