Ann: Quarterly Activities Report, page-2

Bit disappointed by this Ann to be honest. No detail on drill plans all but to say follow up drilling on A4 won’t occur until the second half of 2019 and I think we can imply A1 is the same. T1 has gone nowhere and appears will likely stay that way. They’ve given no indication of drill plans on T20 and the 4 holes at T23 are not hugely encouraging.

The other bit was they blew through $2m more than I had estimated, fair chunk of corporate costs and exploration appeared high for what was done.

The positives is the path to development of T3 appears clear, they’ve submitted a draft ESIA, camp looks good, farm to be purchased, talking ML application.

I just hope now that they have $20m in the bank they actually get a move on with drilling to prove out the district scale...but I didn’t get the impression this was a priority.