Ann: Quarterly Activities Report 30 September 2018, page-2

A lot of hard physical work done this past quarter and a huge effort in
compiling what is a very comprehensive report - IRC mg'ment are to be commended.
All looks positive going forward for us s/holders particularly with the recovering AUD gold price.
NB- Also no doubt the end of quarter cash position of ~AUD$7m excludes IRC's
share of disputed monies still held in the Project bank account joint with the contractor
-Resource Mining.So when the dispute is resolved we will have a very healthy cash position.
It will be in Resource Mining's own interest to play ball given the numerous new
mining earmarked to commence early 2019-so why did they unilaterally change the method
of calculating the contract ?