Ann: $2.2M Placement Completed to Support Jambreiro FS Review, page-8

Don't mind the sound of this sentance...




Funding at project level of AUD53m, is not too big given everything has been done.. It just a mater of how much percentage we give away.

We gave away 80% of a Exploration target at itty to get us to development stage. Then we have to pay 20% to build it once a decision to mine has been made. That's the deal

We've done the DFS here and got the mining permit, understand the EBITDA over the life of the project is AUD350m, and we only need AUD53M to build the plant. Surely we can hang onto to 50% of it.

Pressure is definately building within the hall's of CTM. The chit chat around the cafe bar must be getting pretty exciting. This needs to translate into upward price action.

It is interesting we are getting interest from HK. They obviously like the Jambreiro project and on a broader level like our suite of projects in the pipeline.

I don't mind the dilution given its for project development, not merely working requirements.

More to come before end of March on the itty front.

HB