TVN General Discussion, page-82

Hi, Brunod, accepted. I think the recent developments have shown us that a stand alone Mt Peake mine was marginal commercially and TIVAN (as it was) was an attempt to add value to get the project over the line. In addition the added value titanium processing which managment relied on for the DFS numbers may well have been floored.

Its boardering on criminal. We as holders are writing off eight/nine years of time, CRs and consequential SP dilution. It is pretty clear why cirtain persons didnt put money in the game, or got out in 2014. Its spilt milk now and we must move on.

Yes, the new team will have to review everything from the beginning. That said, with CSIRO and SMS onboard I hope/believe that there is a huge wealth of research, test results and pilot plant refinements that can be built on very quickly. The new team have been very honest with their new timeline. In fact I suspect they have aired on the side of caution.

Im looking forward to an energy packed 2023 and real progress that enables sustained gains to be made and built on.