Ann: MYL Investor Teleconference, page-6

Some other points

- No further cap raise is needed until well into 2019. By that stage, they'll have completed further drilling for the first mineral reserve (early 2019), more exploration drilling and the feasibility study. Assuming the study is good, I'd expect that any further cap raise will be at a much higher SP and will be coupled with financing to progress to construction. @kimjungun predicted this

- Provision to prevent Perilya from making uninvited takeover bid for 2 years (@Dr Jonathan West)

- Copper-rich zones big enough to mine and process separately, including further potential for cobalt

- Offtake 100% unencumbered

- no risk of FIRB delay

- 3 major industrial and mining partners locked in

- further capital for outstanding amounts of $35m raised at 'not less than' 6c (i.e. it could be more )

- underground resource yet to be drilled, expected to be much larger

Bought more first thing this morning, and will buy more if the SS proves the viability for the starter pit