PIO 10.0% 1.1¢ pioneer resources limited

Ann: Quarterly Activities Report, page-15

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    Amended to USD

    Guesstimate of total net of loan value of pollucite ore based on first shipment and first proceeds

    1600 ton for 1.2 mil or $750 per ton

    750*19,500ish ton=14,625,000

    14,625,000-4,800,000 approx $9,825,000 net USD

    14,000,000 AUD
 
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