Ann: Quarterly Cashflow Report, page-10

The CCZ model - 3rd party treatment.

Which 3rd party? North Parkes, Cobar, Cadia, Woodlawn? Is there another in NSW?

Has a 3rd party been approached?

Which 3rd party has milling capacity and is going to drop everything to mill small parcels of CCZ rock?

Describe the logistics of transporting the ore to the 3rd party.

How much will it cost to get the rock to said 3rd party?

How much might the 3rd party charge for toll milling?

What are the tonnage and average grade of the stockpiles? After more than a year at Cangai, CCZ do not appear to have quantified nor properly sampled the stockpiles to be monetised.

What is the likely metallurgical performance of the stockpiles. At the moment the best we have is 80% recovery and 22% con grade but those results are from separate and independent tests. The con grade for the 80% recovery was 10% Cu. The recovery for the 22% con grade was 64%.

How much will be left after transport, toll milling, mill losses, concentrate transport, smelter payabilities, penalties and smelting and refining costs?

Not very much, if anything, in my opinion.