Ann: Acting CEO's Presentation at 2018 AGM, page-2

• Paris: Completed met testwork program

 Suspended all further work

 Site on care & maintenance• Personnel & facilities:

 Reduction to 3 full time staff

 John Anderson resigned

 Adelaide office retained – mid 2019 lease

 Critical review of all expenditures:

 Withdrawal from research focussed activities  ?

 Minimal work plans  ??

 Rationalisation of tenements

 Focus on new opportunities:

 The hunt is on…. With less than 2 million in the bank, what could they possibly buy???

I wish everyone the best of luck

But my confidence in IVR is still going down.