Ann: Quarterly Activities Report 31 March 2018, page-10

Teal camp production has finished at this point, Until present drilling defines the next most profitable operation at the project..

what we have seen to date is very impressive with muti-parallel gold structures discovered over many metres, open at depth ...

most likely instead of going for another small TT operation over a few Qtrs we will see a major open-pit operation over many years TT with the lakewood plant.

Most likely outside royalites and option conversion (>$5mill AUD fy2018) we will see our next cashflows coming from Goongarrie toll treatment production with EGS planned
(Goongarrie Lady Feasibility Study completion this Qtr)

Anthill scoping study completion and development options review also this june Qtr
(could well see J/V toll treatment here 2019/20)

Personal I'm happy to see IRC mgmt put the hard yards in for the rest of 2018 to set us up for a HUGE 2019/20 with muti-project cashflows + Major GOLD resource growth 2moz+

-Richmond Vanadium asset commercialized into free carried cash-flows or sale IPO etc

-Ongoing MTH-SAR-EGS J/V exploration could well reward in another major discovery