Why Colossus Scoping Study will trump MEI Caldiera, page-6

Hello. I posted two diagrams from the VMM MRE announcement of 4 June 2024. The first diagram is a broad view of the different VMM deposits. The second diagram shows the higher grade portions of these deposits, which are colored in orange color. Therefore, if VMM will define a Mining Reserve of 50Mt at 3,917ppm; this gives the impression they will dig up ore from the various locations colored in orange and transport the ore to a central processing plant. To me, personally, such a proposal sounds highly unusual. Generally, a processing plant is built in one location. Therefore, the impression is VMM are proposing to dig up relatively small areas of ore in different locations and then truck the ore to a central processing plant. If this is the case, it appears this will increase operating costs. VMM has not done any Scoping or Feasibility Studies. For VMM to assert their 50 million tonnes of scattered high grade ore from various scattered locations at 3,917ppm will feed a 10 year production plant sounds unusual to me. Generally, mines are based on a distinct deposit rather than digging up small portions of mineral ore at various locations.