Why Colossus Scoping Study will trump MEI Caldiera, page-10

Hello. Any report would not be "disgruntled". Instead, it would merely be a query about proper reporting; bringing a certain questionable/doubtful/unclear matter to the attention of the ASX. The concerns of the report itself may turn out to be completely invalid.

Generally, there a formal stages to project development & thus disclosure, such as:

1. JORC - done on 4/6/24

2. Scoping Study or PFS based on Indicated JORC defining a Mining/Ore Reserve

It is unusual to me a company would announce what may possibly give the impression to be a mining reserve, plucking a number from a JORC cut-off of 50M at 3,917 (highlighted in yellow, below), without first formally defining a Mining/Ore Reserve from an Indicated JORC.

The JORC Code itself on page 16 says: https://www.jorc.org/docs/JORC_code_2012.pdf

29. An ‘Ore Reserve’ is the economically mineable part of a Measured and/or Indicated Mineral
Resource. It includes diluting materials and allowances for losses, which may occur when the
material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as
appropriate that include application of Modifying Factors. Such studies demonstrate that, at the
time of reporting, extraction could reasonably be justified.