cert dev: publish cert inputs + decision (part 2)
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splits/dev/natives/paddle/TYX_02835123_p000005.md
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## SECURING FUTURE LITHIUM SUPPLY IN AFRICA
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## APPENDIX 1: ASSAY RESULTS $ ^{*} $
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<table border=1 style='margin: auto; word-wrap: break-word;'><tr><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'>Method</td><td style='text-align: center; word-wrap: break-word;'>ICP005</td><td style='text-align: center; word-wrap: break-word;'>ICP005</td><td style='text-align: center; word-wrap: break-word;'>calculated</td><td style='text-align: center; word-wrap: break-word;'>ICP005</td><td style='text-align: center; word-wrap: break-word;'>calculated</td><td style='text-align: center; word-wrap: break-word;'>ICP005</td><td style='text-align: center; word-wrap: break-word;'>ICP005</td><td style='text-align: center; word-wrap: break-word;'>ICP005</td><td style='text-align: center; word-wrap: break-word;'>ICP005</td><td style='text-align: center; word-wrap: break-word;'>ICP005</td></tr><tr><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'>Units</td><td style='text-align: center; word-wrap: break-word;'>%</td><td style='text-align: center; word-wrap: break-word;'>ppm</td><td style='text-align: center; word-wrap: break-word;'>%</td><td style='text-align: center; word-wrap: break-word;'>ppm</td><td style='text-align: center; word-wrap: break-word;'>%</td><td style='text-align: center; word-wrap: break-word;'>ppm</td><td style='text-align: center; word-wrap: break-word;'>ppm</td><td style='text-align: center; word-wrap: break-word;'>ppm</td><td style='text-align: center; word-wrap: break-word;'>ppm</td><td style='text-align: center; word-wrap: break-word;'>ppm</td></tr><tr><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'>LLD</td><td style='text-align: center; word-wrap: break-word;'>0.001</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>1000</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>Drill-hole ID</td><td style='text-align: center; word-wrap: break-word;'>Sample ID</td><td style='text-align: center; word-wrap: break-word;'>From (m)</td><td style='text-align: center; word-wrap: break-word;'>To (m)</td><td style='text-align: center; word-wrap: break-word;'>rock composition</td><td style='text-align: center; word-wrap: break-word;'>$ Li_{2}O $</td><td style='text-align: center; word-wrap: break-word;'>Cs</td><td style='text-align: center; word-wrap: break-word;'>$ CS_{2}O $</td><td style='text-align: center; word-wrap: break-word;'>$ Ta $</td><td style='text-align: center; word-wrap: break-word;'>$ Ta_{2}O_{5} $</td><td style='text-align: center; word-wrap: break-word;'>Nb</td><td style='text-align: center; word-wrap: break-word;'>Sn</td><td style='text-align: center; word-wrap: break-word;'>K</td><td style='text-align: center; word-wrap: break-word;'>Rb</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2623</td><td style='text-align: center; word-wrap: break-word;'>0</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>Pad Fill and Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.196</td><td style='text-align: center; word-wrap: break-word;'>108</td><td style='text-align: center; word-wrap: break-word;'>115</td><td style='text-align: center; word-wrap: break-word;'>7</td><td style='text-align: center; word-wrap: break-word;'>9</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>67</td><td style='text-align: center; word-wrap: break-word;'>20000</td><td style='text-align: center; word-wrap: break-word;'>595</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2624</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>2</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.047</td><td style='text-align: center; word-wrap: break-word;'>618</td><td style='text-align: center; word-wrap: break-word;'>655</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>7</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>19</td><td style='text-align: center; word-wrap: break-word;'>97000</td><td style='text-align: center; word-wrap: break-word;'>3435</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2625</td><td style='text-align: center; word-wrap: break-word;'>2</td><td style='text-align: center; word-wrap: break-word;'>3</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.055</td><td style='text-align: center; word-wrap: break-word;'>556</td><td style='text-align: center; word-wrap: break-word;'>589</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>7</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>99000</td><td style='text-align: center; word-wrap: break-word;'>3495</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2626</td><td style='text-align: center; word-wrap: break-word;'>3</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.055</td><td style='text-align: center; word-wrap: break-word;'>110</td><td style='text-align: center; word-wrap: break-word;'>117</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>65</td><td style='text-align: center; word-wrap: break-word;'>25000</td><td style='text-align: center; word-wrap: break-word;'>910</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2627</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.085</td><td style='text-align: center; word-wrap: break-word;'>80</td><td style='text-align: center; word-wrap: break-word;'>85</td><td style='text-align: center; word-wrap: break-word;'>21</td><td style='text-align: center; word-wrap: break-word;'>26</td><td style='text-align: center; word-wrap: break-word;'>95</td><td style='text-align: center; word-wrap: break-word;'>154</td><td style='text-align: center; word-wrap: break-word;'>13000</td><td style='text-align: center; word-wrap: break-word;'>530</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2628</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.037</td><td style='text-align: center; word-wrap: break-word;'>38</td><td style='text-align: center; word-wrap: break-word;'>40</td><td style='text-align: center; word-wrap: break-word;'>9</td><td style='text-align: center; word-wrap: break-word;'>11</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>70</td><td style='text-align: center; word-wrap: break-word;'>6000</td><td style='text-align: center; word-wrap: break-word;'>235</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2629</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>7</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.056</td><td style='text-align: center; word-wrap: break-word;'>33</td><td style='text-align: center; word-wrap: break-word;'>35</td><td style='text-align: center; word-wrap: break-word;'>7</td><td style='text-align: center; word-wrap: break-word;'>9</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>93</td><td style='text-align: center; word-wrap: break-word;'>8000</td><td style='text-align: center; word-wrap: break-word;'>315</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2630</td><td style='text-align: center; word-wrap: break-word;'>7</td><td style='text-align: center; word-wrap: break-word;'>8</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.057</td><td style='text-align: center; word-wrap: break-word;'>29</td><td style='text-align: center; word-wrap: break-word;'>31</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>20</td><td style='text-align: center; word-wrap: break-word;'>66</td><td style='text-align: center; word-wrap: break-word;'>7000</td><td style='text-align: center; word-wrap: break-word;'>240</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2631</td><td style='text-align: center; word-wrap: break-word;'>8</td><td style='text-align: center; word-wrap: break-word;'>9</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.015</td><td style='text-align: center; word-wrap: break-word;'>26</td><td style='text-align: center; word-wrap: break-word;'>28</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>3000</td><td style='text-align: center; word-wrap: break-word;'>60</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2632</td><td style='text-align: center; word-wrap: break-word;'>9</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.034</td><td style='text-align: center; word-wrap: break-word;'>39</td><td style='text-align: center; word-wrap: break-word;'>41</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>31</td><td style='text-align: center; word-wrap: break-word;'>3000</td><td style='text-align: center; word-wrap: break-word;'>60</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2633</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>11</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.074</td><td style='text-align: center; word-wrap: break-word;'>43</td><td style='text-align: center; word-wrap: break-word;'>46</td><td style='text-align: center; word-wrap: break-word;'>8</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>36</td><td style='text-align: center; word-wrap: break-word;'>2000</td><td style='text-align: center; word-wrap: break-word;'>70</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2634</td><td style='text-align: center; word-wrap: break-word;'>11</td><td style='text-align: center; word-wrap: break-word;'>12</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.17</td><td style='text-align: center; word-wrap: break-word;'>88</td><td style='text-align: center; word-wrap: break-word;'>93</td><td style='text-align: center; word-wrap: break-word;'>11</td><td style='text-align: center; word-wrap: break-word;'>13</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>110</td><td style='text-align: center; word-wrap: break-word;'>5000</td><td style='text-align: center; word-wrap: break-word;'>230</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2635</td><td style='text-align: center; word-wrap: break-word;'>12</td><td style='text-align: center; word-wrap: break-word;'>13</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.052</td><td style='text-align: center; word-wrap: break-word;'>52</td><td style='text-align: center; word-wrap: break-word;'>55</td><td style='text-align: center; word-wrap: break-word;'>21</td><td style='text-align: center; word-wrap: break-word;'>26</td><td style='text-align: center; word-wrap: break-word;'>45</td><td style='text-align: center; word-wrap: break-word;'>137</td><td style='text-align: center; word-wrap: break-word;'>3000</td><td style='text-align: center; word-wrap: break-word;'>105</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2636</td><td style='text-align: center; word-wrap: break-word;'>13</td><td style='text-align: center; word-wrap: break-word;'>14</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.023</td><td style='text-align: center; word-wrap: break-word;'>14</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>8</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>37</td><td style='text-align: center; word-wrap: break-word;'>2000</td><td style='text-align: center; word-wrap: break-word;'>85</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2637</td><td style='text-align: center; word-wrap: break-word;'>14</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.395</td><td style='text-align: center; word-wrap: break-word;'>184</td><td style='text-align: center; word-wrap: break-word;'>195</td><td style='text-align: center; word-wrap: break-word;'>19</td><td style='text-align: center; word-wrap: break-word;'>23</td><td style='text-align: center; word-wrap: break-word;'>35</td><td style='text-align: center; word-wrap: break-word;'>106</td><td style='text-align: center; word-wrap: break-word;'>12000</td><td style='text-align: center; word-wrap: break-word;'>735</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2638</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>16</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.109</td><td style='text-align: center; word-wrap: break-word;'>203</td><td style='text-align: center; word-wrap: break-word;'>215</td><td style='text-align: center; word-wrap: break-word;'>9</td><td style='text-align: center; word-wrap: break-word;'>11</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>63</td><td style='text-align: center; word-wrap: break-word;'>37000</td><td style='text-align: center; word-wrap: break-word;'>1605</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2639</td><td style='text-align: center; word-wrap: break-word;'>16</td><td style='text-align: center; word-wrap: break-word;'>17</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.14</td><td style='text-align: center; word-wrap: break-word;'>150</td><td style='text-align: center; word-wrap: break-word;'>159</td><td style='text-align: center; word-wrap: break-word;'>11</td><td style='text-align: center; word-wrap: break-word;'>13</td><td style='text-align: center; word-wrap: break-word;'>30</td><td style='text-align: center; word-wrap: break-word;'>243</td><td style='text-align: center; word-wrap: break-word;'>11000</td><td style='text-align: center; word-wrap: break-word;'>565</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2640</td><td style='text-align: center; word-wrap: break-word;'>17</td><td style='text-align: center; word-wrap: break-word;'>18</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.017</td><td style='text-align: center; word-wrap: break-word;'>8</td><td style='text-align: center; word-wrap: break-word;'>8</td><td style='text-align: center; word-wrap: break-word;'>3</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>46</td><td style='text-align: center; word-wrap: break-word;'>1000</td><td style='text-align: center; word-wrap: break-word;'>70</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2641</td><td style='text-align: center; word-wrap: break-word;'>18</td><td style='text-align: center; word-wrap: break-word;'>19</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.015</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>3</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>28</td><td style='text-align: center; word-wrap: break-word;'>1000</td><td style='text-align: center; word-wrap: break-word;'>45</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2642</td><td style='text-align: center; word-wrap: break-word;'>19</td><td style='text-align: center; word-wrap: break-word;'>20</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.049</td><td style='text-align: center; word-wrap: break-word;'>14</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>7</td><td style='text-align: center; word-wrap: break-word;'>9</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>41</td><td style='text-align: center; word-wrap: break-word;'>4000</td><td style='text-align: center; word-wrap: break-word;'>145</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2643</td><td style='text-align: center; word-wrap: break-word;'>20</td><td style='text-align: center; word-wrap: break-word;'>21</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.031</td><td style='text-align: center; word-wrap: break-word;'>44</td><td style='text-align: center; word-wrap: break-word;'>47</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>18</td><td style='text-align: center; word-wrap: break-word;'>20</td><td style='text-align: center; word-wrap: break-word;'>42</td><td style='text-align: center; word-wrap: break-word;'>6000</td><td style='text-align: center; word-wrap: break-word;'>280</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2644</td><td style='text-align: center; word-wrap: break-word;'>21</td><td style='text-align: center; word-wrap: break-word;'>22</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.018</td><td style='text-align: center; word-wrap: break-word;'>16</td><td style='text-align: center; word-wrap: break-word;'>17</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>23</td><td style='text-align: center; word-wrap: break-word;'>2000</td><td style='text-align: center; word-wrap: break-word;'>80</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2645</td><td style='text-align: center; word-wrap: break-word;'>22</td><td style='text-align: center; word-wrap: break-word;'>23</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.033</td><td style='text-align: center; word-wrap: break-word;'>14</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>12</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>33</td><td style='text-align: center; word-wrap: break-word;'>2000</td><td style='text-align: center; word-wrap: break-word;'>100</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2646</td><td style='text-align: center; word-wrap: break-word;'>23</td><td style='text-align: center; word-wrap: break-word;'>24</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>1.167</td><td style='text-align: center; word-wrap: break-word;'>343</td><td style='text-align: center; word-wrap: break-word;'>364</td><td style='text-align: center; word-wrap: break-word;'>86</td><td style='text-align: center; word-wrap: break-word;'>105</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>109</td><td style='text-align: center; word-wrap: break-word;'>16000</td><td style='text-align: center; word-wrap: break-word;'>1115</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2647</td><td style='text-align: center; word-wrap: break-word;'>24</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.063</td><td style='text-align: center; word-wrap: break-word;'>22</td><td style='text-align: center; word-wrap: break-word;'>23</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>52</td><td style='text-align: center; word-wrap: break-word;'>3500</td><td style='text-align: center; word-wrap: break-word;'>160</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2648</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>26</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.066</td><td style='text-align: center; word-wrap: break-word;'>24</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>3</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>62</td><td style='text-align: center; word-wrap: break-word;'>4000</td><td style='text-align: center; word-wrap: break-word;'>170</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2649</td><td style='text-align: center; word-wrap: break-word;'>26</td><td style='text-align: center; word-wrap: break-word;'>27</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.059</td><td style='text-align: center; word-wrap: break-word;'>20</td><td style='text-align: center; word-wrap: break-word;'>21</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>41</td><td style='text-align: center; word-wrap: break-word;'>3000</td><td style='text-align: center; word-wrap: break-word;'>150</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2650</td><td style='text-align: center; word-wrap: break-word;'>27</td><td style='text-align: center; word-wrap: break-word;'>28</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.043</td><td style='text-align: center; word-wrap: break-word;'>36</td><td style='text-align: center; word-wrap: break-word;'>38</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>30</td><td style='text-align: center; word-wrap: break-word;'>3000</td><td style='text-align: center; word-wrap: break-word;'>140</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2651</td><td style='text-align: center; word-wrap: break-word;'>28</td><td style='text-align: center; word-wrap: break-word;'>29</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.031</td><td style='text-align: center; word-wrap: break-word;'>66</td><td style='text-align: center; word-wrap: break-word;'>70</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>22</td><td style='text-align: center; word-wrap: break-word;'>4000</td><td style='text-align: center; word-wrap: break-word;'>155</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2652</td><td style='text-align: center; word-wrap: break-word;'>28</td><td style='text-align: center; word-wrap: break-word;'>29</td><td style='text-align: center; word-wrap: break-word;'>NDP2651 Field Duplicate</td><td style='text-align: center; word-wrap: break-word;'>0.031</td><td style='text-align: center; word-wrap: break-word;'>72</td><td style='text-align: center; word-wrap: break-word;'>76</td><td style='text-align: center; word-wrap: break-word;'>3</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>29</td><td style='text-align: center; word-wrap: break-word;'>5000</td><td style='text-align: center; word-wrap: break-word;'>155</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2653</td><td style='text-align: center; word-wrap: break-word;'>N/A</td><td style='text-align: center; word-wrap: break-word;'>N/A</td><td style='text-align: center; word-wrap: break-word;'>Standard</td><td style='text-align: center; word-wrap: break-word;'>1.058</td><td style='text-align: center; word-wrap: break-word;'>194</td><td style='text-align: center; word-wrap: break-word;'>206</td><td style='text-align: center; word-wrap: break-word;'>145</td><td style='text-align: center; word-wrap: break-word;'>177</td><td style='text-align: center; word-wrap: break-word;'>45</td><td style='text-align: center; word-wrap: break-word;'>93</td><td style='text-align: center; word-wrap: break-word;'>18000</td><td style='text-align: center; word-wrap: break-word;'>3355</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2654</td><td style='text-align: center; word-wrap: break-word;'>N/A</td><td style='text-align: center; word-wrap: break-word;'>N/A</td><td style='text-align: center; word-wrap: break-word;'>Blank</td><td style='text-align: center; word-wrap: break-word;'>0.002</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'><1</td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'><5</td><td style='text-align: center; word-wrap: break-word;'>14</td><td style='text-align: center; word-wrap: break-word;'><1000</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2655</td><td style='text-align: center; word-wrap: break-word;'>29</td><td style='text-align: center; word-wrap: break-word;'>30</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.131</td><td style='text-align: center; word-wrap: break-word;'>107</td><td style='text-align: center; word-wrap: break-word;'>113</td><td style='text-align: center; word-wrap: break-word;'>26</td><td style='text-align: center; word-wrap: break-word;'>32</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>27</td><td style='text-align: center; word-wrap: break-word;'>5000</td><td style='text-align: center; word-wrap: break-word;'>225</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2656</td><td style='text-align: center; word-wrap: break-word;'>30</td><td style='text-align: center; word-wrap: break-word;'>31</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.155</td><td style='text-align: center; word-wrap: break-word;'>253</td><td style='text-align: center; word-wrap: break-word;'>268</td><td style='text-align: center; word-wrap: break-word;'>46</td><td style='text-align: center; word-wrap: break-word;'>56</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>31</td><td style='text-align: center; word-wrap: break-word;'>9000</td><td style='text-align: center; word-wrap: break-word;'>565</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2657</td><td style='text-align: center; word-wrap: break-word;'>31</td><td style='text-align: center; word-wrap: break-word;'>32</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.146</td><td style='text-align: center; word-wrap: break-word;'>150</td><td style='text-align: center; word-wrap: break-word;'>159</td><td style='text-align: center; word-wrap: break-word;'>45</td><td style='text-align: center; word-wrap: break-word;'>55</td><td style='text-align: center; word-wrap: break-word;'>30</td><td style='text-align: center; word-wrap: break-word;'>16</td><td style='text-align: center; word-wrap: break-word;'>5000</td><td style='text-align: center; word-wrap: break-word;'>280</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2658</td><td style='text-align: center; word-wrap: break-word;'>32</td><td style='text-align: center; word-wrap: break-word;'>33</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.282</td><td style='text-align: center; word-wrap: break-word;'>423</td><td style='text-align: center; word-wrap: break-word;'>448</td><td style='text-align: center; word-wrap: break-word;'>125</td><td style='text-align: center; word-wrap: break-word;'>153</td><td style='text-align: center; word-wrap: break-word;'>30</td><td style='text-align: center; word-wrap: break-word;'>111</td><td style='text-align: center; word-wrap: break-word;'>8000</td><td style='text-align: center; word-wrap: break-word;'>650</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2659</td><td style='text-align: center; word-wrap: break-word;'>33</td><td style='text-align: center; word-wrap: break-word;'>34</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.574</td><td style='text-align: center; word-wrap: break-word;'>10566</td><td style='text-align: center; word-wrap: break-word;'>11202</td><td style='text-align: center; word-wrap: break-word;'>195</td><td style='text-align: center; word-wrap: break-word;'>238</td><td style='text-align: center; word-wrap: break-word;'>50</td><td style='text-align: center; word-wrap: break-word;'>154</td><td style='text-align: center; word-wrap: break-word;'>18000</td><td style='text-align: center; word-wrap: break-word;'>1815</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2660</td><td style='text-align: center; word-wrap: break-word;'>34</td><td style='text-align: center; word-wrap: break-word;'>35</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.436</td><td style='text-align: center; word-wrap: break-word;'>356</td><td style='text-align: center; word-wrap: break-word;'>377</td><td style='text-align: center; word-wrap: break-word;'>169</td><td style='text-align: center; word-wrap: break-word;'>206</td><td style='text-align: center; word-wrap: break-word;'>75</td><td style='text-align: center; word-wrap: break-word;'>65</td><td style='text-align: center; word-wrap: break-word;'>6000</td><td style='text-align: center; word-wrap: break-word;'>480</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2661</td><td style='text-align: center; word-wrap: break-word;'>35</td><td style='text-align: center; word-wrap: break-word;'>36</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.693</td><td style='text-align: center; word-wrap: break-word;'>226</td><td style='text-align: center; word-wrap: break-word;'>240</td><td style='text-align: center; word-wrap: break-word;'>99</td><td style='text-align: center; word-wrap: break-word;'>121</td><td style='text-align: center; word-wrap: break-word;'>85</td><td style='text-align: center; word-wrap: break-word;'>216</td><td style='text-align: center; word-wrap: break-word;'>6000</td><td style='text-align: center; word-wrap: break-word;'>380</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2662</td><td style='text-align: center; word-wrap: break-word;'>36</td><td style='text-align: center; word-wrap: break-word;'>37</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.249</td><td style='text-align: center; word-wrap: break-word;'>78</td><td style='text-align: center; word-wrap: break-word;'>83</td><td style='text-align: center; word-wrap: break-word;'>13</td><td style='text-align: center; word-wrap: break-word;'>16</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>85</td><td style='text-align: center; word-wrap: break-word;'>5000</td><td style='text-align: center; word-wrap: break-word;'>245</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2663</td><td style='text-align: center; word-wrap: break-word;'>37</td><td style='text-align: center; word-wrap: break-word;'>38</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.131</td><td style='text-align: center; word-wrap: break-word;'>120</td><td style='text-align: center; word-wrap: break-word;'>127</td><td style='text-align: center; word-wrap: break-word;'>8</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>20</td><td style='text-align: center; word-wrap: break-word;'>80</td><td style='text-align: center; word-wrap: break-word;'>6000</td><td style='text-align: center; word-wrap: break-word;'>240</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2664</td><td style='text-align: center; word-wrap: break-word;'>38</td><td style='text-align: center; word-wrap: break-word;'>39</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite and Host rock</td><td style='text-align: center; word-wrap: break-word;'>0.085</td><td style='text-align: center; word-wrap: break-word;'>130</td><td style='text-align: center; word-wrap: break-word;'>138</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>6</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>22</td><td style='text-align: center; word-wrap: break-word;'>7000</td><td style='text-align: center; word-wrap: break-word;'>185</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2665</td><td style='text-align: center; word-wrap: break-word;'>39</td><td style='text-align: center; word-wrap: break-word;'>40</td><td style='text-align: center; word-wrap: break-word;'>Host rock</td><td style='text-align: center; word-wrap: break-word;'>0.06</td><td style='text-align: center; word-wrap: break-word;'>65</td><td style='text-align: center; word-wrap: break-word;'>69</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'><5</td><td style='text-align: center; word-wrap: break-word;'>21</td><td style='text-align: center; word-wrap: break-word;'>3000</td><td style='text-align: center; word-wrap: break-word;'>60</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2666</td><td style='text-align: center; word-wrap: break-word;'>40</td><td style='text-align: center; word-wrap: break-word;'>41</td><td style='text-align: center; word-wrap: break-word;'>Host rock</td><td style='text-align: center; word-wrap: break-word;'>0.038</td><td style='text-align: center; word-wrap: break-word;'>42</td><td style='text-align: center; word-wrap: break-word;'>45</td><td style='text-align: center; word-wrap: break-word;'><1</td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'><5</td><td style='text-align: center; word-wrap: break-word;'>16</td><td style='text-align: center; word-wrap: break-word;'>2000</td><td style='text-align: center; word-wrap: break-word;'>30</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2667</td><td style='text-align: center; word-wrap: break-word;'>42</td><td style='text-align: center; word-wrap: break-word;'>43</td><td style='text-align: center; word-wrap: break-word;'>Host rock</td><td style='text-align: center; word-wrap: break-word;'>0.101</td><td style='text-align: center; word-wrap: break-word;'>136</td><td style='text-align: center; word-wrap: break-word;'>144</td><td style='text-align: center; word-wrap: break-word;'>3</td><td style='text-align: center; word-wrap: break-word;'>4</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>41</td><td style='text-align: center; word-wrap: break-word;'>5000</td><td style='text-align: center; word-wrap: break-word;'>95</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2668</td><td style='text-align: center; word-wrap: break-word;'>43</td><td style='text-align: center; word-wrap: break-word;'>44</td><td style='text-align: center; word-wrap: break-word;'>Host rock</td><td style='text-align: center; word-wrap: break-word;'>0.084</td><td style='text-align: center; word-wrap: break-word;'>111</td><td style='text-align: center; word-wrap: break-word;'>118</td><td style='text-align: center; word-wrap: break-word;'><1</td><td style='text-align: center; word-wrap: break-word;'></td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>14</td><td style='text-align: center; word-wrap: break-word;'>4000</td><td style='text-align: center; word-wrap: break-word;'>90</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2669</td><td style='text-align: center; word-wrap: break-word;'>44</td><td style='text-align: center; word-wrap: break-word;'>45</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.047</td><td style='text-align: center; word-wrap: break-word;'>70</td><td style='text-align: center; word-wrap: break-word;'>74</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>5</td><td style='text-align: center; word-wrap: break-word;'>16</td><td style='text-align: center; word-wrap: break-word;'>2000</td><td style='text-align: center; word-wrap: break-word;'>50</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2670</td><td style='text-align: center; word-wrap: break-word;'>45</td><td style='text-align: center; word-wrap: break-word;'>46</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.02</td><td style='text-align: center; word-wrap: break-word;'>21</td><td style='text-align: center; word-wrap: break-word;'>22</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>1</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>17</td><td style='text-align: center; word-wrap: break-word;'>3000</td><td style='text-align: center; word-wrap: break-word;'>55</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2671</td><td style='text-align: center; word-wrap: break-word;'>46</td><td style='text-align: center; word-wrap: break-word;'>47</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.02</td><td style='text-align: center; word-wrap: break-word;'>25</td><td style='text-align: center; word-wrap: break-word;'>27</td><td style='text-align: center; word-wrap: break-word;'>2</td><td style='text-align: center; word-wrap: break-word;'>2</td><td style='text-align: center; word-wrap: break-word;'><5</td><td style='text-align: center; word-wrap: break-word;'>18</td><td style='text-align: center; word-wrap: break-word;'>3000</td><td style='text-align: center; word-wrap: break-word;'>80</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2672</td><td style='text-align: center; word-wrap: break-word;'>47</td><td style='text-align: center; word-wrap: break-word;'>48</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.068</td><td style='text-align: center; word-wrap: break-word;'>50</td><td style='text-align: center; word-wrap: break-word;'>53</td><td style='text-align: center; word-wrap: break-word;'>7</td><td style='text-align: center; word-wrap: break-word;'>9</td><td style='text-align: center; word-wrap: break-word;'>10</td><td style='text-align: center; word-wrap: break-word;'>19</td><td style='text-align: center; word-wrap: break-word;'>4000</td><td style='text-align: center; word-wrap: break-word;'>110</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2673</td><td style='text-align: center; word-wrap: break-word;'>48</td><td style='text-align: center; word-wrap: break-word;'>49</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.033</td><td style='text-align: center; word-wrap: break-word;'>47</td><td style='text-align: center; word-wrap: break-word;'>50</td><td style='text-align: center; word-wrap: break-word;'>2</td><td style='text-align: center; word-wrap: break-word;'>2</td><td style='text-align: center; word-wrap: break-word;'><5</td><td style='text-align: center; word-wrap: break-word;'>14</td><td style='text-align: center; word-wrap: break-word;'>4000</td><td style='text-align: center; word-wrap: break-word;'>95</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>MRC44A</td><td style='text-align: center; word-wrap: break-word;'>NDP2674</td><td style='text-align: center; word-wrap: break-word;'>49</td><td style='text-align: center; word-wrap: break-word;'>50</td><td style='text-align: center; word-wrap: break-word;'>Pegmatite</td><td style='text-align: center; word-wrap: break-word;'>0.228</td><td style='text-align: center; word-wrap: break-word;'>113</td><td style='text-align: center; word-wrap: break-word;'>120</td><td style='text-align: center; word-wrap: break-word;'>16</td><td style='text-align: center; word-wrap: break-word;'>20</td><td style='text-align: center; word-wrap: break-word;'>15</td><td style='text-align: center; word-wrap: break-word;'>98</td><td style='text-align: center; word-wrap: break-word;'>4000</td><td style='text-align: center; word-wrap: break-word;'>280</td><td style='text-align: center; word-wrap: break-word;'></td></tr></table>
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$ ^{*} $ The remainder of MRC44A, all of MRC43, MRC44, MRC45, MRC46, MRC 47, MRC48, MRC49 and MRC50: no significant results.
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ASX Announcement
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31 December 2024 | Mineral Resources & Ore Reserves Estimates
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Ore Reserves
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Ore Reserves estimates at the Group level are the aggregation of the 31 December 2024 Ore Reserves estimates for Golden Grove and Capricorn Copper, as reported in subsequent sections of this release. Ore Reserves estimates have been depleted for production to 31 December 2024 at Golden Grove and for production to 31 March 2024* at Capricorn Copper.
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*29Metals suspended production at Capricorn Copper on 26 March 2024 and production continues to be suspended. See 29Metals announcement, “Capricorn Copper – Suspension of Operations” dated 26 March 2024.
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For personal use only
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<table><tr><td rowspan="3">Category</td><td rowspan="3">Asset</td><td colspan="5">2024</td></tr><tr><td rowspan="2">Tonnes</td><td colspan="3">Grade</td><td rowspan="2">Contained Metal</td></tr><tr><td>CuMt</td><td>Zn%</td><td>Aug/t</td></tr><tr><td rowspan="3">Proved</td><td>Golden Grove</td><td>5.6</td><td>2.3</td><td>3.6</td><td>0.8</td></tr><tr><td>Capricorn Copper</td><td>1.7</td><td>1.7</td><td>-</td><td>13</td></tr><tr><td>Total</td><td>7.2</td><td colspan="3">Grades not additive</td></tr><tr><td rowspan="3">Probable</td><td>Golden Grove</td><td>10.9</td><td>1.3</td><td>5.7</td><td>0.7</td></tr><tr><td>Capricorn Copper</td><td>17.5</td><td>1.6</td><td>-</td><td>13</td></tr><tr><td>Total</td><td>28.4</td><td colspan="3">Grades not additive</td></tr><tr><td rowspan="3">Proved & Probable</td><td>Golden Grove</td><td>16.5</td><td>1.6</td><td>5.0</td><td>0.7</td></tr><tr><td>Capricorn Copper</td><td>19.2</td><td>1.7</td><td>-</td><td>13</td></tr><tr><td>Total</td><td>35.7</td><td colspan="3">Grades not additive</td></tr></table>
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| 8 |
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<table><tr><td colspan="4">Contained Metal</td></tr><tr><td>Cu</td><td>Zn</td><td>Au</td><td>Ag</td></tr><tr><td>kt</td><td>kt</td><td>koz</td><td>koz</td></tr><tr><td>127</td><td>202</td><td>137</td><td>4,473</td></tr><tr><td>29</td><td>-</td><td>-</td><td>688</td></tr><tr><td>156</td><td>202</td><td>137</td><td>5,161</td></tr><tr><td>143</td><td>617</td><td>229</td><td>9,680</td></tr><tr><td>288</td><td>-</td><td>-</td><td>7,103</td></tr><tr><td>431</td><td>617</td><td>229</td><td>16,783</td></tr><tr><td>270</td><td>819</td><td>366</td><td>14,153</td></tr><tr><td>316</td><td>-</td><td>-</td><td>7,791</td></tr><tr><td>587</td><td>819</td><td>366</td><td>21,944</td></tr></table>
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| 9 |
+
<table><tr><td rowspan="3">Tonnes</td><td colspan="4">Grade</td><td colspan="4">Contained Metal</td></tr><tr><td colspan="2">Cu</td><td rowspan="2">Zn</td><td rowspan="2">Au</td><td rowspan="2">Ag</td><td colspan="2">Cu</td><td rowspan="2">Zn</td></tr><tr><td>Mt</td><td>%</td><td>% g/t</td><td>kt</td></tr><tr><td>5.2</td><td>1.8</td><td>3.1</td><td>0.6</td><td>22</td><td>93</td><td>161</td><td>106</td><td>3,625</td></tr><tr><td>1.7</td><td>1.8</td><td>-</td><td>-</td><td>13</td><td>30</td><td>-</td><td>-</td><td>703</td></tr><tr><td>6.9</td><td colspan="4">Grades not additive</td><td>123</td><td>161</td><td>106</td><td>4,328</td></tr><tr><td>11.6</td><td>1.6</td><td>5.3</td><td>0.7</td><td>27</td><td>184</td><td>619</td><td>262</td><td>10,219</td></tr><tr><td>17.3</td><td>1.6</td><td>-</td><td>-</td><td>12</td><td>284</td><td>-</td><td>-</td><td>6,914</td></tr><tr><td>28.8</td><td colspan="4">Grades not additive</td><td>468</td><td>619</td><td>262</td><td>17,133</td></tr><tr><td>16.7</td><td>1.7</td><td>4.7</td><td>0.7</td><td>26</td><td>277</td><td>780</td><td>368</td><td>13,844</td></tr><tr><td>19.0</td><td>1.7</td><td>-</td><td>-</td><td>12</td><td>314</td><td>-</td><td>-</td><td>7,616</td></tr><tr><td>35.7</td><td colspan="4">Grades not additive</td><td>591</td><td>780</td><td>368</td><td>21,461</td></tr></table>
|
| 10 |
+
Note: estimates reported in the table above, other than silver, are rounded to one decimal place. Estimates for silver are rounded to zero decimal places. Additional grade and contained metal – Pb and As – are reported in underlying Ore Reserves estimates for assets (where applicable).
|
| 11 |
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29
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| 12 |
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M
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ASX Announcement
|
| 2 |
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31 December 2024 | Mineral Resources & Ore Reserve Estimates
|
| 3 |
+
CRITERIA
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| 4 |
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COMMENTARY
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| 5 |
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29
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M
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Page 49 of 78
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29
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Metals
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For personal use only
|
| 4 |
+
ASX ANNOUNCEMENT
|
| 5 |
+
Monday, 20 April 2026
|
| 6 |
+
2025 Annual Report
|
| 7 |
+
2025 ESG Report
|
| 8 |
+
29Metals Limited ('29Metals' or, the 'Company') today released its 2025 Annual Report which accompanies this release.
|
| 9 |
+
An interactive version of the 2025 Annual Report will also be available on 29Metals' dedicated Annual General Meeting ('AGM') website page at: https://www.29metals.com/investors/agm.
|
| 10 |
+
As previously, the 2025 Annual Report includes 29Metals' 2025 ESG Report. A standalone version of the 2025 ESG Report, incorporating additional Global Reporting Initiative ('GRI') data tables, is available on 29Metals' website at: https://www.29metals.com/sustainability.
|
| 11 |
+
- ENDS -
|
| 12 |
+
Authorised for release by the Company Secretary, Melinda Shiell
|
| 13 |
+
Enquiries
|
| 14 |
+
Kristian Stella
|
| 15 |
+
Group Executive, Corporate Development
|
| 16 |
+
e: Kristian.Stella@29metals.com
|
| 17 |
+
t: +61 409 338 517
|
| 18 |
+
29Metals Limited (ABN 95 650 096 094) (ASX: 29M)
|
| 19 |
+
Head office: Suite 2, Level 19, 80 Collins Street, Melbourne, VIC 3000
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| 1 |
+
For personal use only
|
| 2 |
+
2
|
| 3 |
+
29Metals 2025 Annual Report
|
| 4 |
+
2025 key results
|
| 5 |
+
Chair letter and CEO report
|
| 6 |
+
About 29Metals
|
| 7 |
+
2025 highlights
|
| 8 |
+
The foundations of the business continued to be strengthened during 2025.
|
| 9 |
+
The Company advanced important priorities across safety, progressed the delivery of the Gossan Valley project at Golden Grove and continued to advance the imperatives for a successful and sustainable future restart of production at Capricorn Copper.
|
| 10 |
+
Safety and our people
|
| 11 |
+
<table><tr><td rowspan="2">TRIF1</td><td>2025</td><td>7.1/mwhrs</td><td></td></tr><tr><td>2024</td><td>10.0/mwhrs</td><td></td></tr><tr><td rowspan="2">LTIF2</td><td>2025</td><td>0.0/mwhrs</td><td></td></tr><tr><td>2024</td><td>2.4/mwhrs</td><td></td></tr><tr><td rowspan="2">SIF3</td><td>2025</td><td>4.2/mwhrs</td><td></td></tr><tr><td>2024</td><td>4.4/mwhrs</td><td></td></tr></table>
|
| 12 |
+
1. TRIF: Total Recordable Injury Frequency.
|
| 13 |
+
2. LTIF: Lost Time Injury Frequency.
|
| 14 |
+
3. SIF: Significant Incident Frequency.
|
| 15 |
+

|
| 16 |
+
|
| 17 |
+
Financial
|
| 18 |
+
Group Revenue \( ^{8} \)
|
| 19 |
+
$567m
|
| 20 |
+
Up 3% from 2024 ($551m)
|
| 21 |
+
Supported by higher base and precious metal prices
|
| 22 |
+

|
| 23 |
+
|
| 24 |
+
<table><tr><td>Cu</td><td>Copper</td><td>59%</td></tr><tr><td>Zn</td><td>Zinc</td><td>20%</td></tr><tr><td>Au</td><td>Gold</td><td>13%</td></tr><tr><td>Ag</td><td>Silver</td><td>7%</td></tr><tr><td>I</td><td>Other</td><td>1%</td></tr></table>
|
| 25 |
+
Critical control focus resulted in decreased Significant Incident Frequency, continuing a long-term trend, down 58% over a four-year period.
|
| 26 |
+
Total Recordable Injury Frequency reduced by 29% and Lost Time Injury Frequency reduced to zero during 2025.
|
| 27 |
+
Female participation
|
| 28 |
+
<table><tr><td>Board & Management4,5</td><td>29Metals Group5</td></tr><tr><td>21%</td><td>16%</td></tr><tr><td>Down from 2024 (30%)</td><td>Up from 2024 (15%)</td></tr></table>
|
| 29 |
+
Female representation increased at the Group level.
|
| 30 |
+
4. Management roles, including Executives (including CEO), General Manager, Group Manager and Manager.
|
| 31 |
+
5. As at 31 December 2025.
|
| 32 |
+
Operational
|
| 33 |
+
Cu production
|
| 34 |
+
22kt
|
| 35 |
+
Golden Grove
|
| 36 |
+
C1 Costs (US$) \( ^{6} \)
|
| 37 |
+
$2.49/lb
|
| 38 |
+
Zn production
|
| 39 |
+
35kt
|
| 40 |
+
Golden Grove
|
| 41 |
+
AISC (US$) \( ^{6} \)
|
| 42 |
+
$3.66/lb
|
| 43 |
+
6. C1 Costs and AISC are non-IFRS financial information. Refer to the Important Information regarding the use of non-IFRS financial information on page 201.
|
| 44 |
+
Financial
|
| 45 |
+
Group Revenue \( ^{8} \)
|
| 46 |
+
$567m
|
| 47 |
+
Up 3% from 2024 ($551m)
|
| 48 |
+
Supported by higher base and precious metal prices
|
| 49 |
+

|
| 50 |
+
|
| 51 |
+
Cu
|
| 52 |
+
Zn
|
| 53 |
+
Au
|
| 54 |
+
Ag
|
| 55 |
+
Other
|
| 56 |
+
59%
|
| 57 |
+
20%
|
| 58 |
+
13%
|
| 59 |
+
7%
|
| 60 |
+
1%
|
| 61 |
+
Net Profit After Tax
|
| 62 |
+
$24m
|
| 63 |
+
Up $202m from 2024
|
| 64 |
+
(Net Loss After Tax of $178m)
|
| 65 |
+
EBITDA \( ^{9} \)
|
| 66 |
+
$176m
|
| 67 |
+
Up 200% from 2024 ($58m)
|
| 68 |
+
8. Percent of total Group 2025 gross revenue by metal is inclusive of final invoice and realised quotational period ('QP') adjustments, but excluding hedging gains/losses, TCRC and unrealised QP adjustments.
|
| 69 |
+
9. EBITDA and Drawn Debt are non-IFRS financial information. Refer to the Important Information regarding the use of non-IFRS financial information on page 201.
|
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| 1 |
+
For personal use only
|
| 2 |
+
88
|
| 3 |
+
29Metals 2025 Annual Report
|
| 4 |
+
2025 key results
|
| 5 |
+
Chair letter and CEO report
|
| 6 |
+
About 29Metals
|
| 7 |
+
Directors' Report continued
|
| 8 |
+
Directors' Report
|
| 9 |
+
Operating and Financial Review
|
| 10 |
+
KEY FINANCIAL RESULTS
|
| 11 |
+
<table><tr><td>For the 12 months ended 31 December</td><td>2025</td><td>2024</td><td>VAR</td></tr><tr><td>Profit and Loss</td><td></td><td></td><td></td></tr><tr><td>Total revenue</td><td>$'000</td><td>566,622</td><td>551,063</td></tr><tr><td>Cost of sales</td><td>$'000</td><td>(482,045)</td><td>(562,622)</td></tr><tr><td>Gross profit / (loss)</td><td>$'000</td><td>84,577</td><td>(11,559)</td></tr><tr><td>EBITDA1</td><td>$'000</td><td>175,690</td><td>58,476</td></tr><tr><td>NPAT / (NLAT)</td><td>$'000</td><td>24,171</td><td>(177,608)</td></tr><tr><td>Profit / (loss) per share (Basic)</td><td>cents</td><td>1.8</td><td>(24.3)</td></tr><tr><td>Cashflows</td><td></td><td></td><td></td></tr><tr><td>Cash flows from operating activities</td><td>$'000</td><td>55,451</td><td>59,236</td></tr><tr><td>Cash flows used in investing activities</td><td>$'000</td><td>(86,145)</td><td>(116,296)</td></tr><tr><td>Cash flows from financing activities</td><td>$'000</td><td>(116,328)</td><td>145,591</td></tr><tr><td>Effects of movements in exchange rates on cash held</td><td>$'000</td><td>(2,678)</td><td>1,960</td></tr><tr><td>Balance Sheet</td><td></td><td></td><td></td></tr><tr><td>Drawn Debt1</td><td>$'000</td><td>187,811</td><td>262,128</td></tr><tr><td>Cash and cash equivalents2</td><td>$'000</td><td>102,650</td><td>252,350</td></tr><tr><td>Net Drawn Debt1</td><td>$'000</td><td>85,161</td><td>9,778</td></tr><tr><td>Total Liquidity1</td><td>$'000</td><td>117,635</td><td>267,433</td></tr></table>
|
| 12 |
+
1. EBITDA, Drawn Debt, Net Drawn Debt and Total Liquidity are non-IFRS financial information metrics. Refer to page 14 for important information regarding the use of non-IFRS financial information metrics in this report.
|
| 13 |
+
2. Excludes cash balances set aside for rental security deposits and IPO proceeds retained by 29Metals under the Cash Backed Indemnity Deed.
|
| 14 |
+
Total revenue for the Reporting Period of $566,622,000 9 (2024: $551,063,000) was 3% higher than the Prior Corresponding Period, supported by higher commodity prices, in Australian dollar terms, with:
|
| 15 |
+
■ average prices for copper and zinc 9% and 3% higher, respectively, than the Prior Corresponding Period in US$ terms; and
|
| 16 |
+
■ the average Australian dollar exchange rate 2% lower than the Prior Corresponding Period.
|
| 17 |
+
Copper metal revenue as a percentage of total revenue increased to 59% (2024%: 49%), reflecting a combination of higher copper sales, higher copper prices and reduced contribution from by-product sales given production interruptions at Xantho Extended during the Reporting Period.
|
| 18 |
+
Earnings before interest, tax, depreciation and amortisation ('EBITDA') \( ^{10} \) for the Reporting Period of $175,690,000 (2024: $58,476,000) reflects:
|
| 19 |
+
■ higher total revenues;
|
| 20 |
+
■ lower cost of sales of $482,045,000 (2024: $562,622,000) for the Group, a 14% reduction, reflecting:
|
| 21 |
+
— a 4% decrease in Site Operating Costs, \( ^{10} \) with lower activity levels at Capricorn Copper;
|
| 22 |
+
— a stockpile movement credit of $27,085,000 (2024: $22,161,000 charge), reflecting timing differences between production and sales; and
|
| 23 |
+
— lower expenditures at Capricorn Copper on reduced activity levels;
|
| 24 |
+
- increased other income, comprising insurance proceeds received in connection with the Capricorn Copper Extreme Weather Event of $54,000,000 (2024: $36,983,000) reflecting the final portion of the total insurance settlement of $115,000,000.
|
| 25 |
+
Net Profit After Tax ('NPAT') of $24,171,000 (2024: $177,608,000 loss) also improved for the Reporting Period, reflecting:
|
| 26 |
+
■ improved EBITDA; 10
|
| 27 |
+
■ lower depreciation and amortisation ('D&A') expense of $121,685,000 (2024: $128,639,000) and lower realised and unrealised losses on derivative financial instruments of $14,703,000 (2024: $16,565,000) attributable to the Group's pre-IPO gold hedges;
|
| 28 |
+
■ a foreign exchange gain of $12,326,000 (2024: $20,435,000 loss) attributable to movements in US$ denominated loan balances;
|
| 29 |
+
\( ^{9} \) Total revenue cited inclusive of quotational period ('QP') adjustments and net of treatment and refining charges ('TCRCs').
|
| 30 |
+
\( ^{10} \) EBITDA and Site Operating Costs are non-IFRS financial information metrics. Refer to page 14 for important information regarding the use of non-IFRS financial information metrics in this report.
|
| 31 |
+
17
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|
| 1 |
+
For personal use only
|
| 2 |
+
100
|
| 3 |
+
29Metals 2025 Annual Report
|
| 4 |
+
2025 key results
|
| 5 |
+
Chair letter and CEO report
|
| 6 |
+
About 29Metals
|
| 7 |
+
Directors' Report continued
|
| 8 |
+
Directors' Report Remuneration Report
|
| 9 |
+
2. 2025 remuneration snapshot
|
| 10 |
+
2.1 Summary of KMP remuneration outcomes for Reporting Period
|
| 11 |
+
<table><tr><td>Total Fixed Remuneration ('TFR')</td><td>STI</td><td>LTI</td><td>One-off related benefits</td></tr><tr><td>TFR for executive KMP was reviewed as part of the Company's annual remuneration review process.Following that review, TFR was increased by 2.8% for Mr Herbert, 2.5% for Mr Cooney and 5.5% for Mr Palmer, including superannuation.</td><td>2025 STI award outcome of 90%-93% of target for executive KMP. The STI award will be delivered in:cash (50%), andequity in the form of performance rights (50%).2025 STI award outcomes were determined by the Board, against Company KPIs (85% of 2025 STI outcome) and each executive KMP's personal performance (15% of the 2025 STI outcome).</td><td>Award of performance rights to all executive KMP under the 2025 LTI.Vesting of performance rights under the 2023 LTI.</td><td>1,000,000 performance rights vested, which were awarded as a one-time incentive to the CEO in connection with his appointment in 2024. Vesting was conditional upon the CEO remaining employed until the end of the 18-month vesting period.</td></tr></table>
|
| 12 |
+
The remuneration outcomes 'mix' as a percentage of total remuneration for executive KMP in the Reporting Period, including the proportion of performance and equity-based remuneration, is summarised below.
|
| 13 |
+
Reporting Period remuneration mix expressed as a percentage of total remuneration \( ^{1} \)
|
| 14 |
+
<table><tr><td>Executive KMP</td><td>Fixed</td><td>Performance based2</td><td>Cash</td><td>Equity</td></tr><tr><td>James Palmer</td><td>34%</td><td>66%</td><td>60%</td><td>40%</td></tr><tr><td>Ed Cooney</td><td>40%</td><td>60%</td><td>63%</td><td>37%</td></tr><tr><td>Peter Herbert</td><td>40%</td><td>60%</td><td>63%</td><td>37%</td></tr></table>
|
| 15 |
+
1. For the purposes of presenting remuneration delivered in the form of performance rights, the nominal cash value of the award at the time of award has been applied. Remuneration outcomes presented are subject to rounding.
|
| 16 |
+
2. The percentage of performance-based remuneration on a statutory basis is set out in section 8 of this Remuneration Report. Performance-based remuneration shown above includes awards of equity (in the form of performance rights) that were unvested at 31 December 2025 and applies nominal face value at the time of award.
|
| 17 |
+
The horizons for equity awards to executive KMP during the Reporting Period and the respective vesting horizons, along with equity awards from prior periods that remained on foot during the Reporting Period, are summarised below.
|
| 18 |
+
<table><tr><td>Award1</td><td>Grant Date</td><td>Expiry Date</td><td>Vesting Horizon</td><td>Notes</td></tr><tr><td>2022 LTI</td><td>24-Feb-22</td><td>24-Feb-37</td><td>H1-25</td><td>Refer to 2022 Remuneration Report for further information.</td></tr><tr><td>2023 LTI</td><td>1-Mar-23</td><td>1-Mar-38</td><td>H1-26</td><td>Refer to 2023 Remuneration Report for further information.</td></tr><tr><td>2023 STI</td><td>22-Feb-24</td><td>22-Feb-39</td><td>H1-25</td><td>Relates to a portion of executive KMP 2023 STI award. Refer to 2023 Remuneration Report for further information.</td></tr><tr><td>2024 LTI</td><td>26-Apr-24</td><td>26-Apr-39</td><td>H1-27</td><td>Refer to 2024 Remuneration Report for further information.</td></tr><tr><td>2024 STI</td><td>8-Apr-25</td><td>8-Apr-40</td><td>H1-26</td><td>Relates to a portion of executive KMP 2024 STI award. Refer to 2024 Remuneration Report for further information.</td></tr><tr><td>2025 LTI</td><td>7-May-25</td><td>7-May-40</td><td>H1-28</td><td>Refer to section 4.4 for further information regarding the 2025 LTI award to executive KMP, including information regarding the performance conditions</td></tr><tr><td>2025 STI</td><td>25-Feb-26</td><td>25-Feb-41</td><td>H1-27</td><td>Relates to a portion of executive KMP 2025 STI award. Refer to section 4.3 for further information regarding the 2025 STI outcomes.</td></tr></table>
|
| 19 |
+
1. All Awards are in the form of Performance Rights.
|
| 20 |
+
29
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116
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29Metals 2025 Annual Report
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2025 key results
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Chair letter and CEO report
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About 29Metals
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Consolidated Financial Statements
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Consolidated Financial Statements
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<table><tr><td>Contents</td><td>Page</td></tr><tr><td>Consolidated Financial Statements</td><td>45</td></tr><tr><td>Consolidated Statement of Comprehensive Income</td><td>46</td></tr><tr><td>Consolidated Statement of Financial Position</td><td>47</td></tr><tr><td>Consolidated Statement of Changes in Equity</td><td>48</td></tr><tr><td>Consolidated Statement of Cash Flows</td><td>49</td></tr><tr><td>Notes to the Consolidated Financial Statements</td><td>50</td></tr><tr><td>Consolidated Entity Disclosure Statement</td><td>104</td></tr><tr><td>Directors’ Declaration</td><td>105</td></tr><tr><td>Independent Auditor’s Report</td><td>106</td></tr></table>
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Index – Notes to the Consolidated Financial Statements
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<table><tr><td colspan="2">Introduction</td></tr><tr><td>1</td><td>Corporate information</td></tr><tr><td>2</td><td>Basis of preparation</td></tr><tr><td>3</td><td>Critical accounting judgements, estimates and assumptions</td></tr><tr><td>4</td><td>Accounting policies</td></tr></table>
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Performance
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<table><tr><td>5</td><td>Segment information</td></tr><tr><td>6</td><td>Income and expenses</td></tr><tr><td>7</td><td>Impacts of the Extreme Weather Event</td></tr><tr><td>8</td><td>Impact of suspension of operations at Capricorn Copper</td></tr><tr><td>9</td><td>Net finance costs</td></tr><tr><td>10</td><td>Taxes</td></tr><tr><td>11</td><td>Earnings per share ('EPS')</td></tr><tr><td>12</td><td>Dividends</td></tr><tr><td>13</td><td>Notes to the Consolidated Statement of Cash Flows</td></tr></table>
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Assets and liabilities
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<table><tr><td>14</td><td>Trade and other receivables</td></tr><tr><td>15</td><td>Derivative financial instruments</td></tr><tr><td>16</td><td>Inventories</td></tr><tr><td>17</td><td>Other financial assets</td></tr><tr><td>18</td><td>Exploration and evaluation expenditure</td></tr><tr><td>19</td><td>Mine properties</td></tr><tr><td>20</td><td>Property, plant, and equipment</td></tr><tr><td>21</td><td>Right-of-use assets</td></tr><tr><td>22</td><td>Impairment of non-current assets</td></tr><tr><td>23</td><td>Trade and other payables</td></tr><tr><td>24</td><td>Provisions</td></tr></table>
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| 15 |
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Capital structure and financial risk management
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| 16 |
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<table><tr><td>25</td><td>Capital management</td></tr><tr><td>26</td><td>Cash and cash equivalents</td></tr><tr><td>27</td><td>Interest-bearing liabilities</td></tr><tr><td>28</td><td>Lease liabilities</td></tr><tr><td>29</td><td>Financial risk management</td></tr><tr><td>30</td><td>Fair value measurement</td></tr><tr><td>31</td><td>Share capital and Reserves</td></tr><tr><td colspan="2">Group structure</td></tr><tr><td>32</td><td>Controlled entities</td></tr><tr><td>33</td><td>Parent entity disclosures</td></tr><tr><td>34</td><td>Deed of cross guarantee</td></tr></table>
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Other information
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<table><tr><td>35</td><td>Share-based payments</td></tr><tr><td>36</td><td>Related parties</td></tr><tr><td>37</td><td>Auditors' remuneration</td></tr><tr><td>38</td><td>Accounting standards and interpretations issued but not yet effective</td></tr><tr><td>39</td><td>Contingent liabilities</td></tr><tr><td>40</td><td>Commitments</td></tr><tr><td>41</td><td>Subsequent events</td></tr></table>
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45
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For personal use only
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118
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29Metals 2025 Annual Report
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2025 key results
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| 5 |
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Chair letter and CEO report
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| 6 |
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About 29Metals
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| 7 |
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Consolidated Financial Statements continued
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Consolidated Financial Statements
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Consolidated Statement of Financial Position at 31 December 2025
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<table><tr><td></td><td>Note</td><td>2025$'000</td><td>2024$'000</td></tr><tr><td colspan="4">Current assets</td></tr><tr><td>Cash and cash equivalents</td><td>26</td><td>102,650</td><td>252,350</td></tr><tr><td>Trade and other receivables</td><td>14</td><td>49,806</td><td>13,208</td></tr><tr><td>Inventories</td><td>16</td><td>99,678</td><td>70,249</td></tr><tr><td>Other financial assets</td><td>17</td><td>33</td><td>13,818</td></tr><tr><td>Prepayments</td><td></td><td>9,911</td><td>8,423</td></tr><tr><td>Total current assets</td><td></td><td>262,078</td><td>358,048</td></tr><tr><td colspan="4">Non-current assets</td></tr><tr><td>Prepayments</td><td></td><td>1,520</td><td>2,543</td></tr><tr><td>Exploration and evaluation expenditure</td><td>18</td><td>35,679</td><td>27,711</td></tr><tr><td>Mine properties</td><td>19</td><td>458,977</td><td>393,896</td></tr><tr><td>Property, plant and equipment</td><td>20</td><td>227,434</td><td>205,076</td></tr><tr><td>Right-of-use assets</td><td>21</td><td>56,002</td><td>50,768</td></tr><tr><td>Intangible assets</td><td></td><td>-</td><td>33</td></tr><tr><td>Total non-current assets</td><td></td><td>779,612</td><td>680,027</td></tr><tr><td>Total assets</td><td></td><td>1,041,690</td><td>1,038,075</td></tr><tr><td colspan="4">Current liabilities</td></tr><tr><td>Trade and other payables</td><td>23</td><td>93,083</td><td>106,924</td></tr><tr><td>Interest-bearing liabilities</td><td>27</td><td>46,033</td><td>103,138</td></tr><tr><td>Derivative financial liabilities</td><td>15</td><td>20,271</td><td>18,233</td></tr><tr><td>Lease liabilities</td><td>28</td><td>27,838</td><td>26,581</td></tr><tr><td>Provisions</td><td>24</td><td>18,865</td><td>14,626</td></tr><tr><td>Total current liabilities</td><td></td><td>206,090</td><td>269,502</td></tr><tr><td colspan="4">Non-current liabilities</td></tr><tr><td>Trade and other payables</td><td>23</td><td>5,335</td><td>-</td></tr><tr><td>Interest-bearing liabilities</td><td>27</td><td>141,778</td><td>158,990</td></tr><tr><td>Lease liabilities</td><td>28</td><td>30,970</td><td>26,651</td></tr><tr><td>Provisions</td><td>24</td><td>211,455</td><td>163,652</td></tr><tr><td>Total non-current liabilities</td><td></td><td>389,538</td><td>349,293</td></tr><tr><td>Total liabilities</td><td></td><td>595,628</td><td>618,795</td></tr><tr><td>Net assets</td><td></td><td>446,062</td><td>419,280</td></tr><tr><td colspan="4">Equity</td></tr><tr><td>Contributed equity</td><td>31</td><td>971,957</td><td>969,013</td></tr><tr><td>Reserves</td><td>31</td><td>3,841</td><td>4,174</td></tr><tr><td>Accumulated losses</td><td></td><td>(529,736)</td><td>(553,907)</td></tr><tr><td>Total equity</td><td></td><td>446,062</td><td>419,280</td></tr></table>
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The Consolidated Statement of Financial Position (above) should be read in conjunction with the accompanying notes.
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47
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For personal use only
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120
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29Metals 2025 Annual Report
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| 4 |
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2025 key results
|
| 5 |
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Chair letter and CEO report
|
| 6 |
+
About 29Metals
|
| 7 |
+
Consolidated Financial Statements continued
|
| 8 |
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Consolidated Financial Statements
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| 9 |
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Consolidated Statement of Cash Flows for the year ended 31 December 2025
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| 10 |
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<table><tr><td></td><td>Note</td><td>2025$'000</td><td>2024$'000</td></tr><tr><td colspan="4">Cash flows from operating activities</td></tr><tr><td>Receipts from customers</td><td></td><td>543,476</td><td>587,475</td></tr><tr><td>Payments to suppliers, employees and others</td><td></td><td>(508,334)</td><td>(563,798)</td></tr><tr><td>Proceeds from insurance claim</td><td>7(a)(i)</td><td>16,500</td><td>35,900</td></tr><tr><td>Interest received</td><td>9</td><td>5,385</td><td>3,379</td></tr><tr><td>Payments for short-term leases and variable lease payments</td><td></td><td>(1,576)</td><td>(3,720)</td></tr><tr><td>Net cash flows from operating activities</td><td>13(a)</td><td>55,451</td><td>59,236</td></tr><tr><td colspan="4">Cash flows from investing activities</td></tr><tr><td>Payments for property, plant and equipment</td><td></td><td>(83,209)</td><td>(70,947)</td></tr><tr><td>Payments for development activities</td><td></td><td>(33,568)</td><td>(42,443)</td></tr><tr><td>Payments for exploration expenditure</td><td></td><td>(6,901)</td><td>(2,906)</td></tr><tr><td>Proceeds from sale of property, plant and equipment</td><td></td><td>33</td><td>-</td></tr><tr><td>Proceeds from insurance claim</td><td>7(a)(i)</td><td>37,500</td><td>-</td></tr><tr><td>Net cash flows (used in) investing activities</td><td></td><td>(86,145)</td><td>(116,296)</td></tr><tr><td colspan="4">Cash flows from financing activities</td></tr><tr><td>Proceeds from issue of new shares</td><td>31</td><td>-</td><td>180,000</td></tr><tr><td>Transaction costs paid relating to the issue of shares</td><td>31</td><td>-</td><td>(7,945)</td></tr><tr><td>Proceeds from borrowings</td><td>27</td><td>-</td><td>127,925</td></tr><tr><td>Repayment of borrowings</td><td>27</td><td>(71,851)</td><td>(107,311)</td></tr><tr><td>Repayment of lease liabilities</td><td>28</td><td>(29,830)</td><td>(25,252)</td></tr><tr><td>Interest and borrowing costs paid</td><td></td><td>(14,647)</td><td>(21,826)</td></tr><tr><td>Net cash flows (used in) / from financing activities</td><td></td><td>(116,328)</td><td>145,591</td></tr><tr><td>Net (decrease) / increase in cash and cash equivalents</td><td></td><td>(147,022)</td><td>88,531</td></tr><tr><td>Effect of movements in exchange rates on cash held</td><td></td><td>(2,678)</td><td>1,960</td></tr><tr><td>Cash and cash equivalents at the beginning of the year</td><td></td><td>252,350</td><td>161,859</td></tr><tr><td>Cash and cash equivalents at the end of the year</td><td>26</td><td>102,650</td><td>252,350</td></tr></table>
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The Consolidated Statement of Cash Flows (above) should be read in conjunction with the accompanying notes.
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49
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124
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29Metals 2025 Annual Report
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| 3 |
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2025 key results
|
| 4 |
+
Chair letter and CEO report
|
| 5 |
+
About 29Metals
|
| 6 |
+
Consolidated Financial Statements continued
|
| 7 |
+
Consolidated Financial Statements
|
| 8 |
+
Performance
|
| 9 |
+
Note 5: Segment information
|
| 10 |
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Identification of reportable segments
|
| 11 |
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The Group has determined that it has three reportable segments: Golden Grove, Capricorn Copper and Exploration (which includes Redhill and regional exploration activities at Golden Grove and Capricorn Copper).
|
| 12 |
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The following summary describes the operations of each reportable segment.
|
| 13 |
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<table><tr><td>Reportable segments</td><td>Operations</td></tr><tr><td>Golden Grove</td><td>Base and precious metals mining, mineral production and associated activities</td></tr><tr><td>Capricorn Copper</td><td>Base and precious metals mining, mineral production and associated activities (Refer Note 8, operations currently suspended)</td></tr><tr><td>Exploration</td><td>Exploration for mineral resources at Redhill (Chile), and regional exploration at Golden Grove (Western Australia) and Capricorn Copper (Queensland)</td></tr></table>
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| 14 |
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Unallocated operations include corporate and administrative functions, which are managed on a group basis and are not allocated to reportable segments.
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The performance of reportable segments is evaluated at least monthly based on revenues and EBITDA.
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| 16 |
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EBITDA is earnings before finance income, finance costs, any unrealised foreign exchange gains or losses, any realised and unrealised gains or losses on derivative financial instruments, asset impairment as a result of damage or loss from the Extreme Weather Event at Capricorn Copper, impairment expense relating to the Capricorn Copper cash-generating unit, write down of inventory stockpile, write-off of exploration and evaluation expenditure, DETSI \( ^{16} \) undertaking: costs provision, income tax expense/(benefit) and depreciation and amortisation. A reconciliation of EBITDA to profit after tax is shown in Note 5(b). EBITDA is a non-IFRS financial information metric used by the Group's chief operating decision makers ('CODM') as the primary measure for assessing financial performance. 29Metals considers that EBITDA provides additional meaningful information to assist stakeholders to understand the underlying performance of the business.
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Segment revenues represent revenue from the sale of copper concentrate, zinc concentrate and lead concentrate (as applicable), which is net of related treatment and refining charges, and shipping revenue. All segment revenues are from third parties.
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| 18 |
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Segment assets and segment liabilities do not include intercompany balances.
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| 19 |
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Capital expenditure comprises payments for plant and equipment, assets under construction, mine development, exploration and studies expenditure.
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| 20 |
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\( ^{16} \) Department of Environment, Science, Tourism and Innovation ('DETSI').
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| 21 |
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53
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[Non-Text]
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AUSTRALASIAN METALS
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| 3 |
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ASX Announcement | ASX: A8G | 16 July 2024
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| 4 |
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Report compliant with the JORC Code (2012).
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| 5 |
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Section 1: Sampling Techniques and Data
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| 6 |
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<table><tr><td>Criteria</td><td>Commentary</td></tr><tr><td>Sampling techniques</td><td>Rock Chip SamplesDuring recent field review consultant geologist Graeme Fraser collected rock samples of 1 to 2 kg in weight for each sample. Samples were under supervision of the geologist until submitted to the laboratory.Sample location, descriptions and sample photos were recorded in the field.</td></tr><tr><td>Drilling techniques</td><td>NA. No Drilling Reported</td></tr><tr><td>Drill sample recovery</td><td>NA. No Drilling Reported</td></tr><tr><td>Logging</td><td>Rock Chip sample locations, descriptions and sample photos were recorded in the field</td></tr><tr><td>Sub-sampling techniques and sample preparation</td><td>Rock Chip SamplesAll the rock chip samples are dry and weathered. The sub-sampling is considered standard industry practise for the exploration stage of the project.</td></tr><tr><td>Quality of assay data and laboratory tests</td><td>The final details of the analytical procedure are still under review</td></tr><tr><td>Verification of sampling and assaying</td><td>The final details of the analytical procedure are still under review</td></tr><tr><td>Location of data points</td><td>Rock Chip SamplesSample location, descriptions and sample photos were recorded in the field using Hand GPS Garwin 65</td></tr><tr><td>Data spacing and distribution</td><td>The project is in the early stage of exploration. The rock chip sampling was conducted based on field observation and outcrop conditions. There is no spacing or distribution considered.</td></tr><tr><td>Orientation of data in relation to geological structure</td><td>The silica outcrop is a flat lying body so no particular sampling orientation was considered.</td></tr><tr><td>Sample security</td><td>Rock Chip SamplesDuring recent field review consultant geologist Graeme Fraser collected rock samples of 1 to 2 kg in weight for each sample. Samples were under supervision of the geologist until submitted to the laboratory.</td></tr><tr><td>Audits or reviews</td><td>There has been no review of the sampling techniques and data.</td></tr></table>
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Unit 34, Level 5, 123B Colin St, West Perth, WA 6005
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Phone: 08 6507 3082 | info@australasiangold.com | australasiangold.com
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Rule 5.5
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Appendix 5B
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Mining exploration entity or oil and gas exploration entity quarterly cash flow report
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| 4 |
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Name of entity
|
| 5 |
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AUSTRALASIAN METALS LIMITED
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<table><tr><td>ABN</td><td>Quarter ended (“current quarter”)</td></tr><tr><td>54 625 744 907</td><td>30 June 2024</td></tr></table>
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| 7 |
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<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (12 months) $A'000</td></tr><tr><td>1.</td><td>Cash flows from operating activities</td><td></td><td></td></tr><tr><td>1.1</td><td>Receipts from customers</td><td>-</td><td>-</td></tr><tr><td>1.2</td><td>Payments for(a) exploration & evaluation (if expensed)(b) development(c) production(d) staff costs(e) administration and corporate costs</td><td>(41)-</td><td>(52)-</td></tr><tr><td>1.3</td><td>Dividends received (see note 3)</td><td>-</td><td>-</td></tr><tr><td>1.4</td><td>Interest received</td><td>9</td><td>62</td></tr><tr><td>1.5</td><td>Interest and other costs of finance paid</td><td>-</td><td>-</td></tr><tr><td>1.6</td><td>Income taxes paid</td><td>-</td><td>-</td></tr><tr><td>1.7</td><td>Government grants and tax incentives</td><td>39</td><td>297</td></tr><tr><td>1.8</td><td>Other (provide details if material)</td><td>-</td><td>-</td></tr><tr><td>1.9</td><td>Net cash from / (used in) operating activities</td><td>(74)</td><td>(227)</td></tr></table>
|
| 8 |
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<table><tr><td>2.</td><td>Cash flows from investing activities</td><td></td><td></td></tr><tr><td>2.1</td><td>Payments to acquire or for:</td><td></td><td></td></tr><tr><td></td><td>(a) entities</td><td>-</td><td>-</td></tr><tr><td></td><td>(b) tenements</td><td>-</td><td>(10)</td></tr><tr><td></td><td>(c) property, plant and equipment</td><td>-</td><td>-</td></tr><tr><td></td><td>(d) exploration & evaluation (if capitalised)</td><td>(99)</td><td>(598)</td></tr><tr><td></td><td>(e) investments</td><td>-</td><td>-</td></tr><tr><td></td><td>(f) other non-current assets</td><td>-</td><td>-</td></tr></table>
|
| 9 |
+
ASX Listing Rules Appendix 5B (17/07/20)
|
| 10 |
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+ See chapter 19 of the ASX Listing Rules for defined terms.
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| 11 |
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Page 1
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For personal use only
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Appendix 5B
|
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Mining exploration entity or oil and gas exploration entity quarterly cash flow report
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| 4 |
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<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (12 months) $A'000</td></tr><tr><td>2.2</td><td>Proceeds from the disposal of:</td><td></td><td></td></tr><tr><td></td><td>(a) entities</td><td>-</td><td>-</td></tr><tr><td></td><td>(b) tenements</td><td>-</td><td>-</td></tr><tr><td></td><td>(c) property, plant and equipment</td><td>-</td><td>-</td></tr><tr><td></td><td>(d) investments</td><td>-</td><td>-</td></tr><tr><td></td><td>(e) other non-current assets</td><td>-</td><td>-</td></tr><tr><td>2.3</td><td>Cash flows from loans to other entities</td><td>-</td><td>-</td></tr><tr><td>2.4</td><td>Dividends received (see note 3)</td><td>-</td><td>-</td></tr><tr><td>2.5</td><td>Other (provide details if material)</td><td>-</td><td>-</td></tr><tr><td>2.6</td><td>Net cash from / (used in) investing activities</td><td>(99)</td><td>(608)</td></tr></table>
|
| 5 |
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<table><tr><td>3.</td><td>Cash flows from financing activities</td><td></td><td></td></tr><tr><td>3.1</td><td>Proceeds from issues of equity securities (excluding convertible debt securities)</td><td>-</td><td>-</td></tr><tr><td>3.2</td><td>Proceeds from issue of convertible debt securities</td><td>-</td><td>-</td></tr><tr><td>3.3</td><td>Proceeds from exercise of options</td><td>-</td><td>-</td></tr><tr><td>3.4</td><td>Transaction costs related to issues of equity securities or convertible debt securities</td><td>-</td><td>-</td></tr><tr><td>3.5</td><td>Proceeds from borrowings</td><td>-</td><td>-</td></tr><tr><td>3.6</td><td>Repayment of borrowings (lease liability)</td><td>(5)</td><td>(43)</td></tr><tr><td>3.7</td><td>Transaction costs related to loans and borrowings</td><td>-</td><td>-</td></tr><tr><td>3.8</td><td>Dividends paid</td><td>-</td><td>-</td></tr><tr><td>3.9</td><td>Other (provide details if material)</td><td>-</td><td>-</td></tr><tr><td>3.10</td><td>Net cash from / (used in) financing activities</td><td>(5)</td><td>(43)</td></tr></table>
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<table><tr><td>4.</td><td>Net increase / (decrease) in cash and cash equivalents for the period</td><td></td><td></td></tr><tr><td>4.1</td><td>Cash and cash equivalents at beginning of period</td><td>3,328</td><td>4,028</td></tr><tr><td>4.2</td><td>Net cash from / (used in) operating activities (item 1.9 above)</td><td>(74)</td><td>(227)</td></tr><tr><td>4.3</td><td>Net cash from / (used in) investing activities (item 2.6 above)</td><td>(99)</td><td>(608)</td></tr><tr><td>4.4</td><td>Net cash from / (used in) financing activities (item 3.10 above)</td><td>(5)</td><td>(43)</td></tr></table>
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| 7 |
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ASX Listing Rules Appendix 5B (17/07/20)
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+ See chapter 19 of the ASX Listing Rules for defined terms.
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For personal use only
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Australasian Metals Limited
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ACN 625 744 907
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Annual Report
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30 June 2025
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For personal use only
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[Non-Text]
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AUSTRALASIAN METALS LIMITED ACN 625 744 907
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2025
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+
<table><tr><td></td><td>Note</td><td>ISSUED CAPITAL $</td><td>SHARE OPTION RESERVE $</td><td>ACCUMULATED LOSSES $</td><td>TOTAL $</td></tr><tr><td>Balance at 1 July 2023</td><td></td><td>9,316,100</td><td>-</td><td>(2,128,603)</td><td>7,187,497</td></tr><tr><td>Total comprehensive income</td><td></td><td>-</td><td></td><td></td><td></td></tr><tr><td>Total profit or (loss)</td><td></td><td>-</td><td>-</td><td>(335,657)</td><td>(335,657)</td></tr><tr><td>Other comprehensive income</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total comprehensive income</td><td></td><td>-</td><td>-</td><td>(335,657)</td><td>(335,657)</td></tr><tr><td>Transactions with members in their capacity as owners:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Share based payment options</td><td>17</td><td>-</td><td>275,775</td><td>-</td><td>275,775</td></tr><tr><td>Total transactions with owners</td><td></td><td>-</td><td>275,775</td><td>-</td><td>275,775</td></tr><tr><td>Balance at 30 June 2024</td><td></td><td>9,316,100</td><td>275,775</td><td>(2,464,260)</td><td>7,127,615</td></tr><tr><td>Total comprehensive income</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total profit or (loss)</td><td></td><td>-</td><td>-</td><td>(2,582,668)</td><td>(2,582,668)</td></tr><tr><td>Other comprehensive income</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total comprehensive income</td><td></td><td>-</td><td>-</td><td>(2,582,668)</td><td>(2,582,668)</td></tr><tr><td>Transactions with members in their capacity as owners:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Issuance of share capital, net of related issuance costs</td><td></td><td>744,803</td><td>-</td><td>-</td><td>744,803</td></tr><tr><td>Share based payment performance rights</td><td>17</td><td>-</td><td>158,200</td><td>-</td><td>158,200</td></tr><tr><td>Total transactions with owners</td><td></td><td>-</td><td>158,200</td><td>-</td><td>903,003</td></tr><tr><td>Balance at 30 June 2025</td><td></td><td>10,060,903</td><td>433,975</td><td>(5,046,928)</td><td>5,447,950</td></tr></table>
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The accompanying notes form part of these financial statements.
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AG
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AUSTRALASIAN METALS
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ASX Announcement | ASX: A8G | 24 April 2026
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| 4 |
+
Annexure 1: Australasian Metals Limited – tenements held directly by Australasian Metals or subsidiary company as at 31 March 2026
|
| 5 |
+
<table><tr><td>Tenements</td><td>Held at end of Quarter</td><td>State / Country</td></tr><tr><td>May Queen, EPM 19419</td><td>100%</td><td>Queensland</td></tr><tr><td>May Queen, EPM 27746</td><td>100%</td><td>Queensland</td></tr><tr><td>Mt Clermont, EPM 14116</td><td>100%</td><td>Queensland</td></tr><tr><td>Capella, EPM 25956</td><td>100%</td><td>Queensland</td></tr><tr><td>Retro Creek EPMA 29434</td><td>100%</td><td>Queensland</td></tr><tr><td>May Queen South EPM16260</td><td>100%</td><td>Queensland</td></tr><tr><td>May Queen South EPM16261</td><td>100%</td><td>Queensland</td></tr><tr><td>Mt Peake, EL 32830</td><td>100%</td><td>Northern Territory</td></tr><tr><td>Barrow Creek, EL 28515</td><td>90%</td><td>Northern Territory</td></tr><tr><td>Barrow Creek, EL 29724</td><td>90%</td><td>Northern Territory</td></tr></table>
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+
For personal use only
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+
Unit 34, Level 5, 123B Colin St, West Perth, WA 6005
|
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Phone: 08 6507 3082 | info@australasiangold.com | australasiangold.com
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Rule 5.5
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Appendix 5B
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+
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
|
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+
Name of entity
|
| 5 |
+
AUSTRALASIAN METALS LIMITED
|
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<table><tr><td>ABN</td><td>Quarter ended (“current quarter”)</td></tr><tr><td>54 625 744 907</td><td>31 March 2026</td></tr></table>
|
| 7 |
+
<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (9 months) $A'000</td></tr><tr><td>1.</td><td>Cash flows from operating activities</td><td></td><td></td></tr><tr><td>1.1</td><td>Receipts from customers</td><td>-</td><td>-</td></tr><tr><td>1.2</td><td>Payments for(a) exploration & evaluation (if expensed)(b) development(c) production(d) staff costs(e) administration and corporate costs</td><td>(5)-</td><td>(12)-</td></tr><tr><td>1.3</td><td>Dividends received (see note 3)</td><td>-</td><td>-</td></tr><tr><td>1.4</td><td>Interest received</td><td>4</td><td>11</td></tr><tr><td>1.5</td><td>Interest and other costs of finance paid</td><td>-</td><td>-</td></tr><tr><td>1.6</td><td>Income taxes paid</td><td>-</td><td>-</td></tr><tr><td>1.7</td><td>Government grants and tax incentives</td><td>-</td><td>-</td></tr><tr><td>1.8</td><td>Other (provide details if material)</td><td>-</td><td>-</td></tr><tr><td>1.9</td><td>Net cash from / (used in) operating activities</td><td>(103)</td><td>(297)</td></tr></table>
|
| 8 |
+
<table><tr><td>2.</td><td>Cash flows from investing activities</td><td></td><td></td></tr><tr><td>2.1</td><td>Payments to acquire or for:</td><td></td><td></td></tr><tr><td></td><td>(a) entities</td><td>-</td><td>-</td></tr><tr><td></td><td>(b) tenements</td><td>-</td><td>-</td></tr><tr><td></td><td>(c) property, plant and equipment</td><td>-</td><td>-</td></tr><tr><td></td><td>(d) exploration & evaluation (if capitalised)</td><td>(108)</td><td>(264)</td></tr><tr><td></td><td>(e) investments</td><td>-</td><td>-</td></tr><tr><td></td><td>(f) other non-current assets</td><td>-</td><td>-</td></tr></table>
|
| 9 |
+
ASX Listing Rules Appendix 5B (17/07/20)
|
| 10 |
+
+ See chapter 19 of the ASX Listing Rules for defined terms.
|
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+
Page 1
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Appendix 5B
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+
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
|
| 4 |
+
<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (9 months) $A'000</td></tr><tr><td rowspan="6">2.2</td><td>Proceeds from the disposal of:</td><td></td><td></td></tr><tr><td>(a) entities</td><td>-</td><td>-</td></tr><tr><td>(b) tenements</td><td>-</td><td>-</td></tr><tr><td>(c) property, plant and equipment</td><td>-</td><td>-</td></tr><tr><td>(d) investments</td><td>-</td><td>-</td></tr><tr><td>(e) other non-current assets</td><td>-</td><td>-</td></tr><tr><td>2.3</td><td>Cash flows from loans to other entities</td><td>-</td><td>-</td></tr><tr><td>2.4</td><td>Dividends received (see note 3)</td><td>-</td><td>-</td></tr><tr><td>2.5</td><td>Other (provide details if material)</td><td>-</td><td>-</td></tr><tr><td>2.6</td><td>Net cash from / (used in) investing activities</td><td>(108)</td><td>(264)</td></tr></table>
|
| 5 |
+
<table><tr><td>3.</td><td>Cash flows from financing activities</td><td></td><td></td></tr><tr><td>3.1</td><td>Proceeds from issues of equity securities (excluding convertible debt securities)</td><td>-</td><td>-</td></tr><tr><td>3.2</td><td>Proceeds from issue of convertible debt securities</td><td>-</td><td>-</td></tr><tr><td>3.3</td><td>Proceeds from exercise of options</td><td>-</td><td>-</td></tr><tr><td>3.4</td><td>Transaction costs related to issues of equity securities or convertible debt securities</td><td>-</td><td>-</td></tr><tr><td>3.5</td><td>Proceeds from borrowings</td><td>-</td><td>-</td></tr><tr><td>3.6</td><td>Repayment of borrowings (lease liability)</td><td>(6)</td><td>(13)</td></tr><tr><td>3.7</td><td>Transaction costs related to loans and borrowings</td><td>-</td><td>-</td></tr><tr><td>3.8</td><td>Dividends paid</td><td>-</td><td>-</td></tr><tr><td>3.9</td><td>Other (provide details if material)</td><td>-</td><td>-</td></tr><tr><td>3.10</td><td>Net cash from / (used in) financing activities</td><td>(6)</td><td>(13)</td></tr></table>
|
| 6 |
+
<table><tr><td>4.</td><td>Net increase / (decrease) in cash and cash equivalents for the period</td><td></td><td></td></tr><tr><td>4.1</td><td>Cash and cash equivalents at beginning of period</td><td>2,681</td><td>3,038</td></tr><tr><td>4.2</td><td>Net cash from / (used in) operating activities (item 1.9 above)</td><td>(103)</td><td>(297)</td></tr><tr><td>4.3</td><td>Net cash from / (used in) investing activities (item 2.6 above)</td><td>(108)</td><td>(264)</td></tr><tr><td>4.4</td><td>Net cash from / (used in) financing activities (item 3.10 above)</td><td>(6)</td><td>(13)</td></tr></table>
|
| 7 |
+
ASX Listing Rules Appendix 5B (17/07/20)
|
| 8 |
+
+ See chapter 19 of the ASX Listing Rules for defined terms.
|
| 9 |
+
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[Non-Text]
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BRYAH
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RESOURCES LIMITED
|
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Table 3: Tenement Information
|
| 5 |
+
<table><tr><td colspan="6">Tenement Information as Required by Listing Rule 5.3.3For the Quarter Ended 30 June 2024</td></tr><tr><td>Location</td><td>Project</td><td>Tenements</td><td>Economic Interest</td><td>Notes</td><td>Change in Quarter %</td></tr><tr><td>Western Australia</td><td>Gabanintha</td><td>E51/843</td><td>\( 100\%^{1,2} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E51/1534</td><td>\( 100\%^{1,2} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>M51/878</td><td>\( 100\%^{1,2} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>M51/888</td><td>\( 100\%^7 \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>MLA51/897</td><td>\( 100\%^{1,2} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>L51/112</td><td>\( 100\%^7 \)</td><td></td><td>Nil</td></tr><tr><td>Western Australia</td><td>Bryah Basin</td><td>P52/1527</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3014</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3236</td><td>\( 100\%^{3,6} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3237</td><td>\( 100\%^{3,6} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3238</td><td>\( 100\%^3 \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3240</td><td>\( 100\%^{3,6} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3349</td><td>\( 100\%^{2,6} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3401</td><td>\( 100\%^{4,6} \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3453</td><td>\( 100\%^4 \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3454</td><td>\( 100\%^4 \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3508</td><td>\( 100\%^6 \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3700</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3705</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3726</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3703</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3739</td><td>\( 100\%^7 \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3725</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3796</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3848</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3865</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3898</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/3963</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>M52/1068</td><td>\( 49\%^5 \)</td><td>Manganese Rights only</td><td>Nil</td></tr><tr><td></td><td></td><td>E52/1557</td><td>\( 49\%^5 \)</td><td>Manganese Rights only</td><td>Nil</td></tr><tr><td></td><td></td><td>E52/1860</td><td>\( 49\%^5 \)</td><td>Manganese Rights only</td><td>Nil</td></tr><tr><td></td><td></td><td>M52/806</td><td>\( 100\%^6 \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E52/4096</td><td>\( 100\%^6 \)</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>P52/1659</td><td>\( 100\%^6 \)</td><td></td><td>100%</td></tr><tr><td></td><td></td><td>M52/1087</td><td>\( 100\%^5 \)</td><td></td><td>100%</td></tr><tr><td></td><td></td><td>M52/1088</td><td>100%</td><td></td><td>100%</td></tr><tr><td></td><td></td><td>E52/4178</td><td>100%</td><td></td><td>100%</td></tr><tr><td>Western Australia</td><td>Lake Johnston</td><td>E63/2132</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E63/2134</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E63/2135</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E63/2155</td><td>100%</td><td>Relinquished</td><td>100%</td></tr><tr><td></td><td></td><td>E63/2156</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E63/2157</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E63/2158</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E63/2159</td><td>100%</td><td></td><td>Nil</td></tr><tr><td></td><td></td><td>E63/2361</td><td>100%</td><td>Granted</td><td>Nil</td></tr></table>
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ASX: BYH | bryah.com.au
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ABxGroup
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ASX announcement 5 May 2025
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| 3 |
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page 8
|
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JORC Code Appendix 1
|
| 5 |
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Section 1 Sampling Techniques and Data
|
| 6 |
+
(Criteria in this section apply to all succeeding sections.)
|
| 7 |
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<table><tr><td>Criteria</td><td>JORC Code explanation</td><td>Commentary</td></tr><tr><td>Sampling techniques</td><td>Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.</td><td>Drill hole samples from auger drilling to 12 metres maximum depth but typically 3 to 5 metres depth. Most holes did not reach bedrock.</td></tr><tr><td>Drilling techniques</td><td>Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).</td><td>Auger holes.</td></tr><tr><td>Drill sample recovery</td><td>Method of recording & assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery & ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.</td><td>Weight tests indicated reliable sample recovery except for first metre in soils (not used in resource estimates)No relationship between sample recovery and grade has been observed to date.</td></tr><tr><td>Logging</td><td>Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative. Core (or costean, channel, etc) photography.The total length and percentage of the relevant intersections logged.</td><td>Geologically logged by senior geologists. Every sample photographed, with photos, logs and assays entered into ABx's proprietary ABacus database.</td></tr><tr><td>Sub-sampling techniques and sample preparation</td><td>If core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.</td><td>Chips are subsampled using bauxite shovel and quartering method in accordance with ISO standards for fine damp clay material.</td></tr><tr><td>Quality of assay data and laboratory tests</td><td>The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (eg standards, blanks, duplicates, external lab checks) & whether acceptable levels of accuracy (ie lack of bias) & precision have been established.</td><td>Assaying done at NATA-registered commercial labs of ALS Brisbane Australia and Labwest Minerals Analysis in Western Australia. Duplicate interlab assays and different lab assaying procedures corresponded well.</td></tr></table>
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For personal use only
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ABxGroup
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Quarterly report to 30 June 2025
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Table 1: Tenement information required under LR 5.3.3
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<table><tr><td>Tenement No.</td><td>Location</td></tr><tr><td colspan="2">New South Wales</td></tr><tr><td>EL 9593</td><td>Taralga</td></tr><tr><td>EL 9664</td><td>Penrose Quarry</td></tr><tr><td colspan="2"></td></tr><tr><td colspan="2">Queensland</td></tr><tr><td>MLA 100277</td><td>Sunrise ML application</td></tr><tr><td>EPM 27787</td><td>Binjour</td></tr></table>
|
| 6 |
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<table><tr><td colspan="2">Tasmania</td></tr><tr><td>EL 7/2010</td><td>Conara</td></tr><tr><td>EL 9/2010</td><td>Deloraine</td></tr><tr><td>EL 18/2014</td><td>Prosser’s Road</td></tr><tr><td>EL 10/2021</td><td>Rubble Mound</td></tr><tr><td>EL 27/2022</td><td>Temple Bar</td></tr><tr><td>EL 28/2022</td><td>Triangle Flats</td></tr></table>
|
| 7 |
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Notes: No tenements were relinquished. All tenements are in good standing, 100% owned and not subject to any third-party royalties nor are they encumbered in any way.
|
| 8 |
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Information required under Listing Rule 5.3.1: Exploration expenditure reported during the quarter related to the rare earth project development (\$540,000), research conducted by ALCORE with respect to its reported advancements (\$1,150,000), and staff, administration and corporate costs (\$495,000).
|
| 9 |
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Information required under Listing Rule 5.3.2: No mining production was conducted during the quarter.
|
| 10 |
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Information required under Listing Rule 5.3.5: The payments as disclosed in section 6.1 of the Appendix 5B amounting to $223,000 relate to payment for Director's fees and salaries.
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12
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Rule 5.5
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Appendix 5B
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Mining exploration entity or oil and gas exploration entity quarterly cash flow report
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Name of entity
|
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<table><tr><td>ABx Group Limited</td></tr><tr><td>ABN</td></tr></table>
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14 139 494 885
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Quarter ended (“current quarter”)
|
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30 June 2025
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<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A’000</td><td>Year to date (6 months) $A’000</td></tr><tr><td>1.</td><td>Cash flows from operating activities</td><td></td><td></td></tr><tr><td>1.1</td><td>Receipts from customers</td><td>-</td><td>-</td></tr><tr><td>1.2</td><td>Payments for(a) exploration & evaluation(b) research & development(c) production(d) staff costs(e) administration and corporate costs</td><td>-</td><td>-</td></tr><tr><td>1.3</td><td>Dividends received (see note 3)</td><td>-</td><td>-</td></tr><tr><td>1.4</td><td>Interest received</td><td>18</td><td>45</td></tr><tr><td>1.5</td><td>Interest and other costs of finance paid</td><td>-</td><td>-</td></tr><tr><td>1.6</td><td>Income taxes paid</td><td>-</td><td>-</td></tr><tr><td>1.7</td><td>Government grants and tax incentives</td><td>610</td><td>757</td></tr><tr><td>1.8</td><td>Other (provide details if material)</td><td>-</td><td>-</td></tr><tr><td>1.9</td><td>Net cash from / (used in) operating activities</td><td>(1,017)</td><td>(1,462)</td></tr></table>
|
| 10 |
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<table><tr><td>2.</td><td>Cash flows from investing activities</td><td></td><td></td></tr><tr><td>2.1</td><td>Payments to acquire or for:</td><td></td><td></td></tr><tr><td></td><td>(a) entities</td><td>-</td><td>-</td></tr><tr><td></td><td>(b) tenements</td><td>-</td><td>-</td></tr><tr><td></td><td>(c) property, plant and equipment</td><td>-</td><td></td></tr><tr><td></td><td>(d) exploration & evaluation</td><td>(540)</td><td>(848)</td></tr><tr><td></td><td>(e) investments</td><td>-</td><td>-</td></tr><tr><td></td><td>(f) other non-current assets</td><td>-</td><td>-</td></tr></table>
|
| 11 |
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ASX Listing Rules Appendix 5B (17/07/20)
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+ See chapter 19 of the ASX Listing Rules for defined terms.
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Page 1
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For personal use only
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Appendix 5B
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| 3 |
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Mining exploration entity or oil and gas exploration entity quarterly cash flow report
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| 4 |
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<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (6 months) $A'000</td></tr><tr><td>2.2</td><td>Proceeds from the disposal of:(a) entities(b) tenements(c) property, plant and equipment(d) investments(e) other non-current assets (release of MMI funds held-in-trust)</td><td>606</td><td>606</td></tr><tr><td>2.3</td><td>Cash flows from loans to other entities</td><td>-</td><td>-</td></tr><tr><td>2.4</td><td>Dividends received (see note 3)</td><td>-</td><td>-</td></tr><tr><td>2.5</td><td>Other (Security Deposit)</td><td>(14)</td><td>(14)</td></tr><tr><td>2.6</td><td>Net cash from / (used in) investing activities</td><td>52</td><td>(256)</td></tr></table>
|
| 5 |
+
<table><tr><td>3.</td><td>Cash flows from financing activities</td><td></td><td></td></tr><tr><td>3.1</td><td>Proceeds from issues of equity securities (excluding convertible debt securities)</td><td>-</td><td>-</td></tr><tr><td>3.2</td><td>Proceeds from issue of convertible debt securities</td><td>115</td><td>1,475</td></tr><tr><td>3.3</td><td>Proceeds from exercise of options</td><td>-</td><td>-</td></tr><tr><td>3.4</td><td>Transaction costs related to issues of equity securities or convertible debt securities</td><td>(45)</td><td>(61)</td></tr><tr><td>3.5</td><td>Proceeds from borrowings</td><td>-</td><td>-</td></tr><tr><td>3.6</td><td>Repayment of borrowings</td><td>-</td><td>-</td></tr><tr><td>3.7</td><td>Transaction costs related to loans and borrowings</td><td>-</td><td>-</td></tr><tr><td>3.8</td><td>Dividends paid</td><td>-</td><td>-</td></tr><tr><td>3.9</td><td>Other (Advance received from Investors)</td><td>-</td><td>-</td></tr><tr><td>3.10</td><td>Net cash from / (used in) financing activities</td><td>70</td><td>1,414</td></tr><tr><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td></tr></table>
|
| 6 |
+
<table><tr><td>4.</td><td>Net increase / (decrease) in cash and cash equivalents for the period</td><td></td><td></td></tr><tr><td>4.1</td><td>Cash and cash equivalents at beginning of period</td><td>1,152</td><td>561</td></tr><tr><td>4.2</td><td>Net cash from / (used in) operating activities (item 1.9 above)</td><td>(1,017)</td><td>(1,462)</td></tr><tr><td>4.3</td><td>Net cash from / (used in) investing activities (item 2.6 above)</td><td>52</td><td>(256)</td></tr></table>
|
| 7 |
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ASX Listing Rules Appendix 5B (17/07/20)
|
| 8 |
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+ See chapter 19 of the ASX Listing Rules for defined terms.
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| 9 |
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Page 2
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ABxGroup
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ASX Announcement
|
| 3 |
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2 December 2025
|
| 4 |
+
ASX: ABX
|
| 5 |
+
Maiden Mixed Rare Earth Carbonate with Very High Dysprosium and Terbium Content
|
| 6 |
+
Engage with this announcement on our interactive Investor Hub
|
| 7 |
+
ANSTO has produced first mixed rare earth carbonate (MREC) sample product from Deep Leads deposit in northern Tasmania
|
| 8 |
+
Dysprosium and terbium (DyTb) content is 2.8 to 4.7 times higher than peer MRECs
|
| 9 |
+
Calculated basket price is up to 51% higher than peer MRECs
|
| 10 |
+
On behalf of ABx Group Limited (ASX: ABX) (ABx or the Company), the Australian Nuclear Science and Technology Organisation (ANSTO) has produced the first mixed rare earth carbonate (MREC) sample from the Deep Leads resource in northern Tasmania (Figure 2). The ABx MREC contains 4.0% dysprosium (Dy) and 0.7% terbium (Tb) as a percentage of total rare earth oxides (TREO), more than twice that of any other peer MREC (Table 1). Furthermore, the ABx MREC also contains the highest amounts of other valuable heavy rare earths and very low impurities, including aluminium, uranium and thorium.
|
| 11 |
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The high proportions of these high value rare earths means that the ABx MREC basket price is 17% to 51% higher than all peer MRECs (Figure 1).
|
| 12 |
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|
| 13 |
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Figure 1: MREC basket price. See Table 6 for data.
|
| 14 |
+
ABx Group
|
| 15 |
+
For more information, please join ABx Group's interactive Investor Hub ABx Group Limited
|
| 16 |
+
Suite 2, Level 11, 385 Bourke St, Melbourne VIC 3000, Australia
|
| 17 |
+
ABN 14 139 494 885 | P: +61 3 9692 7222 | F: +61 2 9956 7355
|
| 18 |
+
X
|
| 19 |
+
in
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For personal use only
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ABxGroup
|
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ASX announcement 2 December 2025
|
| 4 |
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page 10
|
| 5 |
+
Table 5: Rare earth oxide prices (USD/kg)
|
| 6 |
+
<table><tr><td>REO</td><td>SMM1</td><td colspan="2">Benchmark Mineral Intelligence2(DDP China)</td><td>(CIF EU)</td></tr><tr><td>La2O3</td><td>$0.63</td><td>-</td><td></td><td>-</td></tr><tr><td>CeO2</td><td>$1.63</td><td>-</td><td></td><td>-</td></tr><tr><td>Pr6O11</td><td>$80.63</td><td>-</td><td></td><td>-</td></tr><tr><td>Nd2O3</td><td>$80.28</td><td>-</td><td></td><td>-</td></tr><tr><td>Sm2O3</td><td>$2.32</td><td>$2.12</td><td></td><td>-</td></tr><tr><td>Eu2O3</td><td>$23.24</td><td>-</td><td></td><td>-</td></tr><tr><td>Gd2O3</td><td>$22.39</td><td>-</td><td></td><td>-</td></tr><tr><td>Tb4O7</td><td>$918.95</td><td>$927.08</td><td></td><td>$3,500</td></tr><tr><td>Dy2O3</td><td>$208.44</td><td>$218.55</td><td></td><td>$975</td></tr><tr><td>Ho2O3</td><td>$69.57</td><td>-</td><td></td><td>-</td></tr><tr><td>Er2O3</td><td>$49.01</td><td>-</td><td></td><td>-</td></tr><tr><td>Tm2O3</td><td>$115.293</td><td>-</td><td></td><td>-</td></tr><tr><td>Yb2O3</td><td>$14.08</td><td>-</td><td></td><td>-</td></tr><tr><td>Lu2O3</td><td>$725.30</td><td>-</td><td></td><td>-</td></tr><tr><td>Y2O3</td><td>$6.48</td><td>-</td><td></td><td>-</td></tr></table>
|
| 7 |
+
\( ^{1} \) 26 November 2025. Ex-works including 13% VAT
|
| 8 |
+
\( ^{2} \) 27 November 2025
|
| 9 |
+
\( ^{3} \) Ginger International Trade & Investment, 27 November 2025 (SMM price not available)
|
| 10 |
+
Table 6: MREO basket prices, calculated from MREO compositions in Table 4 and SMM REO prices in Table 5 (USD/kg)
|
| 11 |
+
<table><tr><td>REO</td><td>ABX</td><td>MEI</td><td>VMM</td><td>BCM</td></tr><tr><td>\( La_{2}O_{3} \)</td><td>$0.11</td><td>$0.35</td><td>$0.30</td><td>$0.21</td></tr><tr><td>\( CeO_{2} \)</td><td>$0.09</td><td>$0.02</td><td>$0.01</td><td>$0.14</td></tr><tr><td>\( Pr_{6}O_{11} \)</td><td>$4.00</td><td>$6.69</td><td>$6.91</td><td>$5.53</td></tr><tr><td>\( Nd_{2}O_{3} \)</td><td>$17.46</td><td>$17.05</td><td>$22.09</td><td>$22.57</td></tr><tr><td>\( Sm_{2}O_{3} \)</td><td>$0.11</td><td>$0.05</td><td>$0.07</td><td>$0.10</td></tr><tr><td>\( Eu_{2}O_{3} \)</td><td>$0.33</td><td>$0.13</td><td>$0.17</td><td>$0.11</td></tr><tr><td>\( Gd_{2}O_{3} \)</td><td>$1.09</td><td>$0.32</td><td>$0.43</td><td>$0.63</td></tr><tr><td>\( Tb_{4}O_{7} \)</td><td>$6.08</td><td>$1.77</td><td>$2.00</td><td>$2.66</td></tr><tr><td>\( Dy_{2}O_{3} \)</td><td>$8.07</td><td>$1.61</td><td>$2.29</td><td>$2.82</td></tr><tr><td>\( Ho_{2}O_{3} \)</td><td>$0.58</td><td>$0.07</td><td>$0.13</td><td>$0.13</td></tr><tr><td>\( Er_{2}O_{3} \)</td><td>$1.09</td><td>$0.14</td><td>$0.21</td><td>$0.33</td></tr><tr><td>\( Tm_{2}O_{3} \)</td><td>$0.35</td><td>$0.01</td><td>$0.06</td><td>$0.11</td></tr><tr><td>\( Yb_{2}O_{3} \)</td><td>$0.22</td><td>$0.01</td><td>$0.04</td><td>$0.08</td></tr><tr><td>\( Lu_{2}O_{3} \)</td><td>$1.77</td><td>$1.07</td><td>$0.29</td><td>$0.70</td></tr><tr><td>\( Y_{2}O_{3} \)</td><td>$1.69</td><td>$0.28</td><td>$0.43</td><td>$0.54</td></tr><tr><td>TREO</td><td>$43.06</td><td>$28.59</td><td>$35.41</td><td>$36.68</td></tr><tr><td>\( NdPr^{1} \)</td><td>$21.46</td><td>$23.74</td><td>$29.00</td><td>$28.10</td></tr><tr><td>\( DyTb^{2} \)</td><td>$14.16</td><td>$3.38</td><td>$4.28</td><td>$5.48</td></tr><tr><td>Other \( REO^{3} \)</td><td>$7.44</td><td>$1.47</td><td>$2.13</td><td>$3.10</td></tr></table>
|
| 12 |
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\( ^{1} \) Sum of the basket values of \( Nd_{2}O_{3} \) and \( Pr_{6}O_{11} \)
|
| 13 |
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\( ^{2} \) Sum of the basket values of \( Dy_{2}O_{3} \) and \( Tb_{4}O_{7} \)
|
| 14 |
+
\( ^{3} \) Sum of the basket values of \( La_{2}O_{3} \) , \( CeO_{2} \) , \( Sm_{2}O_{3} \) , \( Eu_{2}O_{3} \) , \( Gd_{2}O_{3} \) , \( Ho_{2}O_{3} \) , \( Er_{2}O_{3} \) , \( Tm_{2}O_{3} \) , \( Yb_{2}O_{3} \) , \( Lu_{2}O_{3} \) , and \( Y_{2}O_{3} \)
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ABxGroup
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ASX announcement 20 January 2026
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| 3 |
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page 12
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| 4 |
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JORC Code Appendix 1
|
| 5 |
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Section 1 Sampling Techniques and Data
|
| 6 |
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(Criteria in this section apply to all succeeding sections.)
|
| 7 |
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<table><tr><td>Criteria</td><td>JORC Code explanation</td><td>Commentary</td></tr><tr><td>Sampling techniques</td><td>Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.</td><td>Drill hole samples from auger drilling to 12 metres maximum depth but typically 3 to 5 metres depth. Most holes did not reach bedrock.</td></tr><tr><td>Drilling techniques</td><td>Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).</td><td>Auger holes.</td></tr><tr><td>Drill sample recovery</td><td>Method of recording & assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery & ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.</td><td>Weight tests indicated reliable sample recovery except for first metre in soils (not used in resource estimates)No relationship between sample recovery and grade has been observed to date.</td></tr><tr><td>Logging</td><td>Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative. Core (or costean, channel, etc) photography.The total length and percentage of the relevant intersections logged.</td><td>Geologically logged by senior geologists. Every sample photographed, with photos, logs and assays entered into ABx's proprietary ABacus database.</td></tr><tr><td>Sub-sampling techniques and sample preparation</td><td>If core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.</td><td>Chips are subsampled using bauxite shovel and quartering method in accordance with ISO standards for fine damp clay material.</td></tr><tr><td>Quality of assay data and laboratory tests</td><td>The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (eg standards, blanks, duplicates, external lab checks) & whether acceptable levels of accuracy (ie lack of bias) & precision have been established.</td><td>Assaying done at NATA-registered commercial labs of ALS Brisbane Australia and Labwest Minerals Analysis in Western Australia. Duplicate interlab assays and different lab assaying procedures corresponded well.</td></tr></table>
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For personal use only
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ABx Group
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ABX Group Limited
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ABN 14 139 494 885
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Annual Report - 31 December 2025
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ABX Group Limited
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| 2 |
+
Contents
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| 3 |
+
31 December 2025
|
| 4 |
+
Corporate directory 2
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| 5 |
+
Chair's letter 3
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| 6 |
+
Directors' report 4
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| 7 |
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Auditor's independence declaration 27
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| 8 |
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Statement of profit or loss and other comprehensive income 28
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| 9 |
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Statement of financial position 29
|
| 10 |
+
Statement of changes in equity 30
|
| 11 |
+
Statement of cash flows 32
|
| 12 |
+
Notes to the financial statements 33
|
| 13 |
+
Consolidated entity disclosure statement 61
|
| 14 |
+
Directors' declaration 62
|
| 15 |
+
Independent auditor's report to the members of ABX Group Limited 63
|
| 16 |
+
Shareholder information 67
|
| 17 |
+
For personal use only
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1
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For personal use only - Res
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| 2 |
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ABX Group Limited
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| 3 |
+
Corporate directory
|
| 4 |
+
31 December 2025
|
| 5 |
+
<table><tr><td>Directors</td><td>Joycelyn Morton (Non-Executive Chair)Dr Mark Cooksey (Managing Director & CEO)Ian Levy (Executive Director)</td></tr><tr><td>Company secretary</td><td>Mathew Watkins</td></tr><tr><td>Registered office</td><td>Suite 2, Level 11, 385 Bourke StreetMelbourne, VIC 3000</td></tr></table>
|
| 6 |
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<table><tr><td>Principal place of business</td><td>Suite 2, Level 11, 385 Bourke StreetMelbourne, VIC 3000Telephone: +61 3 9692 7222Fax: +61 2 9956 7355Website: www.abxgroup.com.au</td></tr></table>
|
| 7 |
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<table><tr><td>Share register</td><td>Computershare Investor Services Pty LimitedLevel 3, 60 Carrington StreetSydney NSW 2000Telephone: 1300 850 505</td></tr><tr><td>Auditor</td><td>K.S. Black & Co.Level 5, 350 Kent StreetSydney NSW 2000Telephone: +61 2 8839 3000</td></tr><tr><td>Bankers</td><td>Australia & New Zealand Banking Group Limited20 Martin PlaceSydney NSW 2000Telephone: +62 2 9227 1818</td></tr><tr><td>Stock exchange listing</td><td>St George Bank LimitedLevel 14, 182 George StSydney NSW 2200Telephone: +61 2 9236 2230</td></tr></table>
|
| 8 |
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Stock exchange listing
|
| 9 |
+
ABX Group Limited shares and options are listed on the Australian Securities Exchange (ASX code: ABX).
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| 10 |
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2
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For personal use only
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Level 3
|
| 3 |
+
1 James place
|
| 4 |
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NORTH SYDNEY NSW 2060
|
| 5 |
+
75 Lyons Road
|
| 6 |
+
DRUMMOYNE NSW 2047
|
| 7 |
+
K.S. Black & Co.
|
| 8 |
+
ABN 48 117 620 556
|
| 9 |
+
20 Grose Street
|
| 10 |
+
NORTH PARRAMATTA NSW 2151
|
| 11 |
+
PO Box 2210
|
| 12 |
+
NORTH PARRAMATTA NSW 1750
|
| 13 |
+
Lead Auditors' Independence Declaration under Section 307C of the Corporations Act 2001
|
| 14 |
+
To the Members of ABX Group Limited
|
| 15 |
+
I declare that, to the best of my knowledge and belief, during the year ended 31 December 2025 there has been:
|
| 16 |
+
i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and
|
| 17 |
+
ii. no contraventions of any applicable code of professional conduct in relation to the audit.
|
| 18 |
+
The entitles are in respect of ABX Group Limited and the entities it controlled during the period.
|
| 19 |
+
KS Black & Co
|
| 20 |
+
Chartered Accountants
|
| 21 |
+

|
| 22 |
+
|
| 23 |
+
Phillip Jones
|
| 24 |
+
Partner
|
| 25 |
+
Dated in Sydney on this 30 \( ^{th} \) day of March 2026
|
| 26 |
+
Liability limited by a
|
| 27 |
+
scheme approved
|
| 28 |
+
under Professional
|
| 29 |
+
Standards Legislation
|
| 30 |
+
Phone 02 8839 3000
|
| 31 |
+
www.ksblack.com.au
|
| 32 |
+
27
|
| 33 |
+
[NO TEXT]
|
| 34 |
+
CHARTERED ACCOUNTANTS
|
| 35 |
+
AUSTRALIA·NEW ZEALAND
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ABX Group Limited
|
| 2 |
+
Statement of profit or loss and other comprehensive income
|
| 3 |
+
For the year ended 31 December 2025
|
| 4 |
+
<table><tr><td rowspan="3"></td><td rowspan="3">Note</td><td colspan="2">Consolidated</td></tr><tr><td colspan="2">31 December 31 December</td></tr><tr><td>2025$'000</td><td>2024$'000</td></tr><tr><td colspan="4">Revenue</td></tr><tr><td>Revenue</td><td>6</td><td>115</td><td>58</td></tr><tr><td>Interest income</td><td></td><td>55</td><td>167</td></tr><tr><td>Other income</td><td>7</td><td>1,818</td><td>2,413</td></tr><tr><td colspan="4">Expenses</td></tr><tr><td>Administrative, development and exploration expenses</td><td>8</td><td>(3,058)</td><td>(2,884)</td></tr><tr><td>Depreciation and amortisation expense</td><td>14</td><td>(43)</td><td>(83)</td></tr><tr><td>Impairment of exploration assets</td><td>15</td><td>(1,130)</td><td>(1,700)</td></tr><tr><td>Loss on loss of control on subsidiary</td><td></td><td>(3,873)</td><td>-</td></tr><tr><td>Share of loss of associate accounting using the equity method</td><td>13</td><td>(10)</td><td>-</td></tr><tr><td>Fair value change in the derivative liability</td><td>18</td><td>(47)</td><td>-</td></tr><tr><td>Finance costs</td><td>18</td><td>(294)</td><td>-</td></tr><tr><td>Loss before income tax expense</td><td></td><td>(6,467)</td><td>(2,029)</td></tr><tr><td>Income tax expense</td><td>9</td><td>-</td><td>-</td></tr><tr><td>Loss after income tax expense for the year</td><td></td><td>(6,467)</td><td>(2,029)</td></tr><tr><td>Other comprehensive income/(loss) for the year, net of tax</td><td></td><td>-</td><td>-</td></tr><tr><td>Total comprehensive loss for the year</td><td></td><td>(6,467)</td><td>(2,029)</td></tr><tr><td>Loss for the year is attributable to:</td><td></td><td></td><td></td></tr><tr><td>Non-controlling interest</td><td></td><td>4</td><td>(27)</td></tr><tr><td>Owners of ABX Group Limited</td><td></td><td>(6,471)</td><td>(2,002)</td></tr><tr><td></td><td></td><td>(6,467)</td><td>(2,029)</td></tr><tr><td>Total comprehensive income/(loss) for the year is attributable to:</td><td></td><td></td><td></td></tr><tr><td>Non-controlling interest</td><td></td><td>4</td><td>(27)</td></tr><tr><td rowspan="2">Owners of ABX Group Limited</td><td></td><td>(6,471)</td><td>(2,002)</td></tr><tr><td></td><td>(6,467)</td><td>(2,029)</td></tr><tr><td></td><td></td><td>Cents</td><td>Cents</td></tr><tr><td>Basic earnings per share</td><td>34</td><td>(2.40)</td><td>(0.80)</td></tr><tr><td>Diluted earnings per share</td><td>34</td><td>(2.40)</td><td>(0.80)</td></tr></table>
|
| 5 |
+
The above statement of profit or loss and other comprehensive income should be read in conjunction with the
|
| 6 |
+
accompanying notes
|
| 7 |
+
28
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ABX Group Limited
|
| 2 |
+
Statement of changes in equity
|
| 3 |
+
For the year ended 31 December 2025
|
| 4 |
+
<table><tr><td>Consolidated</td><td>Issued capital $'000</td><td>Share based payment reserve $'000</td><td>Option Reserve $'000</td><td>Other reserves $'000</td><td>Retained profits $'000</td><td>Non-controlling interest $'000</td><td>Total equity $'000</td></tr><tr><td>Balance at 1 January 2025</td><td>34,582</td><td>84</td><td>-</td><td>2,504</td><td>(25,866)</td><td>(79)</td><td>11,225</td></tr><tr><td>Profit/(loss) after income tax expense for the year</td><td>-</td><td>-</td><td>-</td><td>-</td><td>(6,471)</td><td>4</td><td>(6,467)</td></tr><tr><td>Other comprehensive income/(loss) for the year, net of tax</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total comprehensive income/(loss) for the year</td><td>-</td><td>-</td><td>-</td><td>-</td><td>(6,471)</td><td>4</td><td>(6,467)</td></tr></table>
|
| 5 |
+
<table><tr><td>Transactions with owners in their capacity as owners:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Contributions of equity, net of transaction costs (note 21)</td><td>4,731</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,731</td></tr><tr><td>Value of free attaching options issued with share placement</td><td>-</td><td>-</td><td>2,403</td><td>-</td><td>-</td><td>-</td><td>2,403</td></tr><tr><td>Share-based payments (note 35)</td><td>-</td><td>33</td><td>-</td><td>-</td><td>-</td><td>-</td><td>33</td></tr><tr><td>Transfers upon lapse of options</td><td>-</td><td>(12)</td><td>-</td><td>-</td><td>12</td><td>-</td><td>-</td></tr><tr><td>Issue of shares in lieu of services</td><td>44</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>44</td></tr><tr><td>Shares issued in settlement of convertible notes</td><td>53</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>53</td></tr><tr><td>Value of options issued with convertible notes</td><td>-</td><td>-</td><td>299</td><td>-</td><td>-</td><td>-</td><td>299</td></tr><tr><td>Options issued to lead manager</td><td>-</td><td>401</td><td>-</td><td>-</td><td>-</td><td>-</td><td>401</td></tr><tr><td>Balance at 31 December 2025</td><td>39,410</td><td>506</td><td>2,702</td><td>2,504</td><td>(32,325)</td><td>(75)</td><td>12,722</td></tr></table>
|
| 6 |
+
The above statement of changes in equity should be read in conjunction with the accompanying notes
|
| 7 |
+
31
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[Non-Text]
|
| 2 |
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ABxGroup
|
| 3 |
+
Quarterly report to 31 March 2026
|
| 4 |
+
Table 2: Tenement information required under LR 5.3.3 as at quarter end
|
| 5 |
+
<table><tr><td>State</td><td>Tenement</td><td>Location</td></tr><tr><td rowspan="8">Tasmania</td><td>ML 2412P/M</td><td>DL130 Project</td></tr><tr><td>EL 7/2010</td><td>Conara</td></tr><tr><td>EL 9/2010</td><td>Deloraine</td></tr><tr><td>EL 18/2014</td><td>Prosser's Road</td></tr><tr><td>EL 10/2021</td><td>Rubble Mound</td></tr><tr><td>EL 25/2022</td><td>Selbourne</td></tr><tr><td>EL 27/2022</td><td>Temple Bar</td></tr><tr><td>EL 28/2022</td><td>Triangle Flats</td></tr><tr><td rowspan="2">New South Wales</td><td>EL 9664</td><td>Penrose Quarry</td></tr><tr><td>EL 9798</td><td>Taralga</td></tr></table>
|
| 6 |
+
Notes: No tenements were relinquished. All tenements are in good standing, 100% owned and not subject to any third-party royalties nor are they encumbered in any way
|
| 7 |
+
Information required under Listing Rule 5.3.1: Exploration expenditure reported during the quarter related to the rare earth project development (\$510,000).
|
| 8 |
+
Information required under Listing Rule 5.3.2: No mining production was conducted during the quarter.
|
| 9 |
+
Information required under Listing Rule 5.3.5: The payments as disclosed in section 6.1 of the Appendix 5B amounting to $303,000 relate to payment for Director's fees and salaries.
|
| 10 |
+
17
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Rule 5.5
|
| 2 |
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Appendix 5B
|
| 3 |
+
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
|
| 4 |
+
Name of entity
|
| 5 |
+
ABx Group Limited
|
| 6 |
+
ABN
|
| 7 |
+
14 139 494 885
|
| 8 |
+
Quarter ended (“current quarter”)
|
| 9 |
+
31 March 2026
|
| 10 |
+
<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (3 months) $A'000</td></tr><tr><td>1.</td><td>Cash flows from operating activities</td><td></td><td></td></tr><tr><td>1.1</td><td>Receipts from customers</td><td>-</td><td>-</td></tr><tr><td>1.2</td><td>Payments for(a) exploration & evaluation(b) research & development(c) production(d) staff costs(e) administration and corporate costs</td><td>-(697)</td><td>-(697)</td></tr><tr><td>1.3</td><td>Dividends received (see note 3)</td><td>-(</td><td>-(</td></tr><tr><td>1.4</td><td>Interest received</td><td>-</td><td>-</td></tr><tr><td>1.5</td><td>Interest and other costs of finance paid</td><td>-</td><td>-</td></tr><tr><td>1.6</td><td>Income taxes paid</td><td>-</td><td>-</td></tr><tr><td>1.7</td><td>Government grants and tax incentives</td><td>1,371</td><td>1,371</td></tr><tr><td>1.8</td><td>Other (provide details if material)</td><td>-</td><td>-</td></tr><tr><td>1.9</td><td>Net cash from / (used in) operating activities</td><td>209</td><td>209</td></tr></table>
|
| 11 |
+
<table><tr><td>2.</td><td>Cash flows from investing activities</td><td></td><td></td></tr><tr><td rowspan="7">2.1</td><td>Payments to acquire or for:</td><td></td><td></td></tr><tr><td>(a) entities</td><td>-</td><td>-</td></tr><tr><td>(b) tenements</td><td>-</td><td>-</td></tr><tr><td>(c) property, plant and equipment</td><td>(2,957)</td><td>(2,957)</td></tr><tr><td>(d) exploration & evaluation</td><td>(510)</td><td>(510)</td></tr><tr><td>(e) investments</td><td>-</td><td>-</td></tr><tr><td>(f) other non-current assets</td><td>-</td><td>-</td></tr></table>
|
| 12 |
+
ASX Listing Rules Appendix 5B (17/07/20)
|
| 13 |
+
+ See chapter 19 of the ASX Listing Rules for defined terms.
|
| 14 |
+
Page 1
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For personal use only
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| 2 |
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Appendix 5B
|
| 3 |
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Mining exploration entity or oil and gas exploration entity quarterly cash flow report
|
| 4 |
+
<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (3 months) $A'000</td></tr><tr><td>2.2</td><td>Proceeds from the disposal of:(a) entities(b) tenements(c) property, plant and equipment(d) investments(e) other non-current assets (release of MMI funds held-in-trust)</td><td>-</td><td>-</td></tr><tr><td>2.3</td><td>Cash flows from loans to other entities</td><td>-</td><td>-</td></tr><tr><td>2.4</td><td>Dividends received (see note 3)</td><td>-</td><td>-</td></tr><tr><td>2.5</td><td>Other</td><td>-</td><td>-</td></tr><tr><td>2.6</td><td>Net cash from / (used in) investing activities</td><td>(2,727)</td><td>(2,727)</td></tr></table>
|
| 5 |
+
<table><tr><td>3.</td><td>Cash flows from financing activities</td><td></td><td></td></tr><tr><td>3.1</td><td>Proceeds from issues of equity securities (excluding convertible debt securities)</td><td>875</td><td>875</td></tr><tr><td>3.2</td><td>Proceeds from issue of convertible debt securities</td><td>-</td><td>-</td></tr><tr><td>3.3</td><td>Proceeds from exercise of options</td><td>-</td><td>-</td></tr><tr><td>3.4</td><td>Transaction costs related to issues of equity securities or convertible debt securities</td><td>(82)</td><td>(82)</td></tr><tr><td>3.5</td><td>Proceeds from borrowings</td><td>-</td><td>-</td></tr><tr><td>3.6</td><td>Repayment of borrowings</td><td>-</td><td>-</td></tr><tr><td>3.7</td><td>Transaction costs related to loans and borrowings</td><td>-</td><td>-</td></tr><tr><td>3.8</td><td>Dividends paid</td><td>-</td><td>-</td></tr><tr><td>3.9</td><td>Other (Advance received from Investors)</td><td>-</td><td>-</td></tr><tr><td>3.10</td><td>Net cash from / (used in) financing activities</td><td>793</td><td>793</td></tr><tr><td></td><td></td><td></td><td></td></tr></table>
|
| 6 |
+
<table><tr><td>4.</td><td>Net increase / (decrease) in cash and cash equivalents for the period</td><td></td><td></td></tr><tr><td>4.1</td><td>Cash and cash equivalents at beginning of period</td><td>3,905</td><td>3,905</td></tr><tr><td>4.2</td><td>Net cash from / (used in) operating activities (item 1.9 above)</td><td>209</td><td>209</td></tr><tr><td>4.3</td><td>Net cash from / (used in) investing activities (item 2.6 above)</td><td>(2,727)</td><td>(2,727)</td></tr></table>
|
| 7 |
+
ASX Listing Rules Appendix 5B (17/07/20)
|
| 8 |
+
+ See chapter 19 of the ASX Listing Rules for defined terms.
|
| 9 |
+
Page 2
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+
AUSTRALIAN
|
| 2 |
+
CRITICAL MINERALS
|
| 3 |
+
TENEMENT INFORMATION (ASX Listing Rule 5.3.3)
|
| 4 |
+
The table below shows the interest in tenements held by Australian Critical Minerals and its wholly owned subsidiaries and is provided in accordance with ASX Listing Rule 5.3.3.
|
| 5 |
+
<table><tr><td colspan="6">COOLETHAPROJECT</td></tr><tr><td>Tenement ID</td><td>HOLDER</td><td>INTEREST</td><td>STATUS</td><td>GRANT DATE</td><td>AREA BLOCKS</td></tr><tr><td>E 45/4990</td><td>PROTEROZOIC GOLD PTY LTD</td><td>100%</td><td>GRANTED</td><td>24/10/2019</td><td>39</td></tr><tr><td>E 45/5228</td><td>PROTEROZOIC GOLD PTY LTD</td><td>100%</td><td>GRANTED</td><td>29/07/2019</td><td>40</td></tr><tr><td>E 45/5052</td><td>PROTEROZOIC GOLD PTY LTD</td><td>100%</td><td>PENDING</td><td>-</td><td>5</td></tr><tr><td>E 45/6375</td><td>PROTEROZOIC GOLD PTY LTD</td><td>100%</td><td>PENDING</td><td>-</td><td>42</td></tr></table>
|
| 6 |
+
<table><tr><td colspan="6">RANKIN DOME PROJECT</td></tr><tr><td>Tenement ID</td><td>HOLDER</td><td>INTEREST</td><td>STATUS</td><td>GRANT DATE</td><td>AREA BLOCKS</td></tr><tr><td>E 77/2709</td><td>KULA GOLD LIMITED</td><td>EARNING 51%</td><td>GRANTED</td><td>8/10/2021</td><td>55</td></tr><tr><td>E 77/2753</td><td>KULA GOLD LIMITED</td><td>EARNING 51%</td><td>GRANTED</td><td>8/10/2021</td><td>22</td></tr><tr><td>E 77/2768</td><td>KULA GOLD LIMITED</td><td>EARNING 51%</td><td>GRANTED</td><td>26/03/2021</td><td>36</td></tr></table>
|
| 7 |
+
<table><tr><td colspan="6">SHAW PROJECT</td></tr><tr><td>Tenement ID</td><td>HOLDER</td><td>INTEREST</td><td>STATUS</td><td>GRANT DATE</td><td>AREA BLOCKS</td></tr><tr><td>E 45/5006</td><td>PROTEROZOIC GOLD PTY LTD</td><td>100%</td><td>GRANTED</td><td>4/07/18</td><td>29</td></tr></table>
|
| 8 |
+
<table><tr><td colspan="6">BEVERLEY PROJECT</td></tr><tr><td>Tenement ID</td><td>HOLDER</td><td>INTEREST</td><td>STATUS</td><td>GRANT DATE</td><td>AREA BLOCKS</td></tr><tr><td>E 70/5574</td><td>NEWNATION HOLDINGS PTY LTD</td><td>100%</td><td>GRANTED</td><td>24/03/2021</td><td>34</td></tr><tr><td>E 70/6148</td><td>NEWNATION HOLDINGS PTY LTD</td><td>100%</td><td>GRANTED</td><td>22/08/2022</td><td>5</td></tr></table>
|
| 9 |
+
<table><tr><td colspan="6">KONDININ PROJECT</td></tr><tr><td>Tenement ID</td><td>HOLDER</td><td>INTEREST</td><td>STATUS</td><td>GRANT DATE</td><td>AREA BLOCKS</td></tr><tr><td>E 70/5608</td><td>EVEXTRA PTY LTD</td><td>100%</td><td>GRANTED</td><td>28/04/2021</td><td>10</td></tr><tr><td>E 70/5609</td><td>EVEXTRA PTY LTD</td><td>100%</td><td>GRANTED</td><td>28/04/2021</td><td>19</td></tr><tr><td>E 70/5610</td><td>EVEXTRA PTY LTD</td><td>100%</td><td>GRANTED</td><td>28/04/2021</td><td>45</td></tr></table>
|
| 10 |
+
<table><tr><td colspan="6">KOJONUP PROJECT</td></tr><tr><td>Tenement ID</td><td>HOLDER</td><td>INTEREST</td><td>STATUS</td><td>GRANT DATE</td><td>AREA BLOCKS</td></tr><tr><td>E 70/5772</td><td>BAYZEPHYR PTY LTD</td><td>100%</td><td>GRANTED</td><td>16/07/2021</td><td>22</td></tr><tr><td>E 70/5773</td><td>BAYZEPHYR PTY LTD</td><td>100%</td><td>GRANTED</td><td>16/07/2021</td><td>54</td></tr><tr><td>E 70/5774</td><td>BAYZEPHYR PTY LTD</td><td>100%</td><td>GRANTED</td><td>19/07/2021</td><td>5</td></tr><tr><td>E 70/5775</td><td>BAYZEPHYR PTY LTD</td><td>100%</td><td>GRANTED</td><td>19/07/2021</td><td>43</td></tr></table>
|
| 11 |
+
For personal use only
|
| 12 |
+
ASX:ACM
|
| 13 |
+
Australian Critical Minerals Limited ACN 658 906 159
|
| 14 |
+
168 Stirling Highway, Nedlands WA 6009
|
| 15 |
+
www.auscriticalminerals.com.au | Page 12 of 13
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splits/dev/natives/unlimited/ACP_02832303_p000004.md
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+
For personal use only
|
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+
audalia
|
| 3 |
+
resources limited
|
| 4 |
+
Schedule of Tenements as at 30 June 2024
|
| 5 |
+
<table><tr><td>Locality</td><td>Licence Number</td><td>Registered Holder / Applicant</td><td>Status</td><td>Audalia’s Interest</td></tr><tr><td>Western Australia</td><td></td><td></td><td></td><td></td></tr><tr><td>Bremer Range/ Lake Medcalf</td><td>M63/656</td><td>Audalia Resources Limited</td><td>Granted</td><td>100%</td></tr><tr><td>Bremer Range</td><td>E63/1855</td><td>Audalia Resources Limited</td><td>Granted</td><td>100%</td></tr><tr><td>Bremer Range</td><td>L63/75</td><td>Audalia Resources Limited</td><td>Granted</td><td>100%</td></tr><tr><td>Lake Johnson</td><td>L63/94</td><td>Audalia Resources Limited</td><td>Granted</td><td>100%</td></tr><tr><td>Lake Johnson</td><td>G63/10</td><td>Audalia Resources Limited</td><td>Granted</td><td>100%</td></tr><tr><td>Lake Johnston</td><td>G63/12</td><td>Audalia Resources Limited</td><td>Granted</td><td>100%</td></tr><tr><td>Bremer Range</td><td>E63/1915</td><td>Audalia Resources Limited</td><td>Application</td><td>0%</td></tr><tr><td>Lake Johnson</td><td>E63/2347</td><td>Audalia Resources Limited</td><td>Application</td><td>0%</td></tr><tr><td>Lake Johnson</td><td>E63/2348</td><td>Audalia Resources Limited</td><td>Application</td><td>0%</td></tr><tr><td>Lake Johnson</td><td>E63/2352</td><td>Audalia Resources Limited</td><td>Application</td><td>0%</td></tr></table>
|
| 6 |
+
Interests in Mining Tenements Lapsed, Relinquished or Reduced for the quarter ended 30 June 2024
|
| 7 |
+
Nil
|
| 8 |
+
Competent Person's Statement
|
| 9 |
+
The information in this report that relates to the Exploration Results is based on information compiled by Mr Brent Butler, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Butler over 40 years' experience as a geologist and is CEO and Executive Director of Audalia. Mr Butler has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Butler has provided his consent to the inclusion in the report of the matters based on his information in the form and context in which it appears.
|
| 10 |
+
ASX: ACP | Find out more at www.audalia.com.au
|
| 11 |
+
4
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|
| 2 |
+
ADAVALE
|
| 3 |
+
RESOURCES
|
| 4 |
+
Tenement Holdings and Movements
|
| 5 |
+
Schedule of Mining Tenements and Beneficial Interests
|
| 6 |
+
Held as at the end of the June 2024 Quarter
|
| 7 |
+
<table><tr><td>Project/Location</td><td>Country</td><td>Tenement</td><td>Percentage held/earning</td></tr><tr><td rowspan="12">Kabanga Jirani Nickel Project</td><td rowspan="12">Tanzania</td><td>Kabanga West (PL11590/2021)</td><td>100%</td></tr><tr><td>Kabanga North (PL 11405/2020)</td><td>100%</td></tr><tr><td>Kabanga North East (PL 11406/2020)</td><td>100%</td></tr><tr><td>Kabanga South East (PL 18602/2021)</td><td>100%</td></tr><tr><td>Kabanga East (PL 11591/2021)</td><td>100%</td></tr><tr><td>Ruiza NE (PL 11539/2021)</td><td>100%</td></tr><tr><td>Burigi Block (PL11538/2021)</td><td>100%</td></tr><tr><td>Burigi North (PL11537/2021)</td><td>100%</td></tr><tr><td>Kabanga South East (PL11886/2022)</td><td>100%</td></tr><tr><td>Southeast Wedge (PL12175/2023)</td><td>100%</td></tr><tr><td>Luhuma Central (PL12350/2023)</td><td>100%</td></tr><tr><td rowspan="2">Luhuma Nickel Project</td><td rowspan="2">Tanzania</td><td>PL11692</td><td>65%</td></tr><tr><td>PL11693</td><td>65%</td></tr></table>
|
| 8 |
+
The Company entered into a Farm-In Agreement to earn up to 100% of the Luhuma Nickel Project. The Company currently has achieved a 65% interest in the project on 8 February 2023.
|
| 9 |
+
<table><tr><td>Nachingwea Prospect</td><td>Tanzania</td><td>PL11887/2022</td><td>100%</td></tr><tr><td rowspan="2">Lake Surprise Uranium Project</td><td rowspan="2">Australia</td><td>EL 5892</td><td>100%</td></tr><tr><td>EL 5893</td><td>100%</td></tr><tr><td rowspan="3">Maree Embayment Uranium Project</td><td rowspan="3">Australia</td><td>EL 6598</td><td>100%</td></tr><tr><td>EL 6821</td><td>100%</td></tr><tr><td>EL 6957</td><td>100%</td></tr><tr><td></td><td></td><td>EL 6890</td><td>100%</td></tr></table>
|
| 10 |
+
Acquired during the June 2024 Quarter
|
| 11 |
+
<table><tr><td>Project/Location</td><td>Country</td><td>Tenement</td><td>Granted/Acquired Date</td></tr><tr><td>Maree Embayment Uranium Project (The Hook)</td><td>Australia</td><td>EL 6890</td><td>May 2024</td></tr></table>
|
| 12 |
+
Disposed of during the June 2024 Quarter
|
| 13 |
+
<table><tr><td>Project/Location</td><td>Country</td><td>Tenement</td><td>Withdrawal Date</td></tr><tr><td>Nil</td><td></td><td></td><td></td></tr></table>
|
| 14 |
+
ASX Announcement
|
| 15 |
+
11
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Table A: Summary of Costs and Economic Metrics
|
| 2 |
+
<table><tr><td>Project</td><td>Unit</td><td>Value</td></tr><tr><td>Phase 1 Mine Plan</td><td>Yrs</td><td>20+</td></tr><tr><td>Processing Run-of-Mine (ROM)</td><td>Mtpa</td><td>3.0</td></tr><tr><td>Total Production</td><td>Mt</td><td>64,263,399</td></tr><tr><td>Construction Period</td><td>Yr</td><td>2.5</td></tr></table>
|
| 3 |
+
<table><tr><td>Capital Expenditures</td><td>Unit</td><td>Value</td></tr><tr><td>Initial Mine Capital</td><td>USD</td><td>5.4 m</td></tr><tr><td>Initial Processing Capital</td><td>USD</td><td>374.7 m</td></tr><tr><td>Contingency (20%)</td><td>USD</td><td>76 m</td></tr><tr><td>Total Initial Capital</td><td>USD</td><td>456.1 m</td></tr></table>
|
| 4 |
+
<table><tr><td>Operating Costs</td><td>Unit</td><td>Value</td></tr><tr><td>NdPr Oxide</td><td>USD$/kg</td><td>38.38</td></tr><tr><td>Tb Oxide</td><td>USD$/kg</td><td>632.56</td></tr><tr><td>Dy Oxide</td><td>USD$/kg</td><td>168.68</td></tr><tr><td>SEG Concentrate</td><td>USD$/kg</td><td>4.22</td></tr><tr><td>La</td><td>USD$/kg</td><td>0.84</td></tr><tr><td>Total</td><td>USD$/kg</td><td>25.66</td></tr></table>
|
| 5 |
+
<table><tr><td>Pricing</td><td>Unit</td><td>Value</td></tr><tr><td>NdPr Oxide</td><td>USD$/kg</td><td>91.00</td></tr><tr><td>Tb Oxide</td><td>USD$/kg</td><td>1,500.00</td></tr><tr><td>Dy Oxide</td><td>USD$/kg</td><td>400.00</td></tr><tr><td>SEG Concentrate</td><td>USD$/kg</td><td>10.00</td></tr><tr><td>La</td><td>USD$/kg</td><td>2.00</td></tr><tr><td>Total</td><td></td><td>60.85</td></tr></table>
|
| 6 |
+
<table><tr><td>Before Tax Financials</td><td>Unit</td><td>Value</td></tr><tr><td>Free Cash Flow</td><td>USD</td><td>2,081.1 m</td></tr><tr><td>NPV</td><td>at 8%</td><td>673.9 m</td></tr><tr><td>NPV</td><td>at 10%</td><td>505.1 m</td></tr><tr><td>IRR (%)</td><td>%</td><td>22.5</td></tr><tr><td>Payback Period</td><td>Yr</td><td>2.9</td></tr></table>
|
| 7 |
+
<table><tr><td>Recovery</td><td>Unit</td><td>Value</td></tr><tr><td>NdPr</td><td>%</td><td>63.9%</td></tr><tr><td>Tb</td><td>%</td><td>70.2%</td></tr><tr><td>Dy</td><td>%</td><td>66.5%</td></tr><tr><td>SEG</td><td>%</td><td>70.1%</td></tr><tr><td>La</td><td>%</td><td>68.6%</td></tr></table>
|
| 8 |
+
<table><tr><td>After Tax Financials</td><td>Unit</td><td>Value</td></tr><tr><td>Free Cash Flow</td><td>USD</td><td>1,845.1 m</td></tr><tr><td>Federal & State Taxes Paid</td><td>USD</td><td>(236 m)</td></tr><tr><td>NPV</td><td>at 8%</td><td>582.2 m</td></tr><tr><td>NPV</td><td>at 10%</td><td>430 m</td></tr><tr><td>IRR (%)</td><td>%</td><td>21</td></tr><tr><td>Payback Period</td><td>Yrs</td><td>3.1</td></tr></table>
|
| 9 |
+
<table><tr><td>Annual production (average)</td><td>Unit</td><td>Value</td></tr><tr><td>NdPr Oxide</td><td>mt</td><td>1,529</td></tr><tr><td>Tb Oxide</td><td>mt</td><td>17</td></tr><tr><td>Dy Oxide</td><td>mt</td><td>91</td></tr><tr><td>SEG Concentrate</td><td>mt</td><td>383</td></tr><tr><td>La Carbonate</td><td>mt</td><td>1,486</td></tr><tr><td>Total</td><td>mt</td><td>3,506</td></tr></table>
|
| 10 |
+
Stantec assessed Halleck Creek to be subject to four separate royalties and a federal income tax and pays no state income tax. Total income taxes paid over the life of the mine are $236 M.
|
| 11 |
+
As part of the tax treatment, the economic evaluation includes a production tax credit, known as the Advanced Manufacturing Production Tax Credit, part of the Inflation Reduction Act (IRA), better known as 45X. The production tax credit is equal to 10% of the costs incurred by critical minerals producers, including rare earth producers. The tax credit is applied to processing processes with exclusions for mining, chemical reagents. Future modifications may include mining and chemical reagent costs be added to the IRA.
|
| 12 |
+
Royalties applied to the economics of the project include a Wyoming State Royalty, a severance tax, an Albany County ad valorem tax, and an industrial property tax. Total royalties paid over the life of mine equal $193.7 M.
|
| 13 |
+
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Table C: Production Scenario Summary
|
| 3 |
+
<table><tr><td>LOM Mining Stats</td><td>3.0 Mtpa Base Case</td><td>6.0 Mtpa Alt. Case</td></tr><tr><td>Total Ore Mined (Mt)</td><td>62.3</td><td>124.5</td></tr><tr><td>Total Waste Mined (Mt)</td><td>1.9</td><td>2.9</td></tr><tr><td>Total Material Mined (Mt)</td><td>64.3</td><td>127.4</td></tr><tr><td>Strip Ratio</td><td>0.03</td><td>0.02</td></tr><tr><td>Recovered Rare Earths</td><td>3.0 Mtpa Base Case</td><td>6.0 Mtpa Alt. Case</td></tr><tr><td>La (Mkg)</td><td>32.1</td><td>56.7</td></tr><tr><td>NdPr (Mkg)</td><td>34.5</td><td>62.0</td></tr><tr><td>SEG (Mkg)</td><td>8.6</td><td>15.6</td></tr><tr><td>Tb (Mkg)</td><td>0.4</td><td>0.8</td></tr><tr><td>Dy (Mkg)</td><td>1.9</td><td>3.4</td></tr><tr><td>NdPr_Eq (Mkg)</td><td>51.9</td><td>92.5</td></tr><tr><td>NdPr_Eq (g/t)</td><td>832</td><td>743</td></tr><tr><td>LOM Cash Flow</td><td>3.0 Mtpa Base Case</td><td>6.0 Mtpa Alt. Case</td></tr><tr><td>Total Revenue (MUSD)</td><td>4,722</td><td>8,416</td></tr><tr><td>OPEX Mining (MUSD)</td><td>305</td><td>567</td></tr><tr><td>OPEX Milling (MUSD)</td><td>1,648</td><td>2,986</td></tr><tr><td>CAPEX Mining (MUSD)</td><td>7</td><td>10</td></tr><tr><td>CAPEX Milling (MUSD)</td><td>450</td><td>727</td></tr><tr><td>After Tax Metrics</td><td>3.0 Mtpa Base Case</td><td>6.0 Mtpa Alt. Case</td></tr><tr><td>Free Cash Flow (MUSD)</td><td>1,845</td><td>3,335</td></tr><tr><td>Federal & State Taxes Paid (MUSD)</td><td>236</td><td>411</td></tr><tr><td>NPV @ 8% (MUSD)</td><td>582</td><td>1,065</td></tr><tr><td>NPV @ 10% (MUSD)</td><td>430</td><td>795</td></tr><tr><td>IRR (%)</td><td>21.1%</td><td>22.3%</td></tr><tr><td>Payback Period</td><td>3.1 Yr</td><td>3.0 Yr</td></tr></table>
|
| 4 |
+
Sensitivity Analysis
|
| 5 |
+
Stantec evaluated sensitivities to price, mining cost, processing cost and processing capital. Ranges from 60% to 120% (-40% to +20%) were evaluated for each case. The after-tax cash flow sensitivities are shown in Figure C and Figure D for the 3 Mtpa base case, and Figure E and Figure F for the 6 Mtpa alternative case.
|
| 6 |
+
11
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Personal use only
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<table><tr><td>Criteria</td><td>JORC Code Explanation</td><td>Commentary</td></tr><tr><td></td><td></td><td>Askari Metals 2021-2022conducted soil sampling, Auger sampling, UAV Aeromagnetic surveying, and RC drilling. The RC drilling was conducted in 3 phases totaling 69 holes and 6355m. 1m interval sample, Cone splitter is used. All holes were sampled on a 1m downhole interval basis. A representation of the rock chips from each 1m interval was collected and stored in RC chip trays for later use.All sampling lengths and other logging data were recorded in AS2's standard sampling record spreadsheets. Data may include from and to measurements, colour, lithology, magnetic susceptibility, structures etc. Visible sulphide content was logged as well as alteration and weathering.Askari commissioned a UAV magnetic survey by Pegasus Airborne Systems over the tenement during November 2021. The survey of 384 line-km in total was flown in a direction of 090°-270° with 25m line-spacings and a sensor height of 25m.</td></tr><tr><td>Drilling techniques</td><td>Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).</td><td>Valiant Consolidated Limited 1981Reverse Circulation (RC) rotary percussion drilling (42 holes 1139m)Miralga Mining N.L. 1986-1989Civil Resources using an Ingersoll-Rand T4 drill rig for RC drilling. Rotary air blast (RAB, 947m 208 holes, sample 1 and 2m intervals), vacuum drilling (23m 4 holes) and reverse circulation (BRC1 to BRC20, 1050m 19 holes; RC1 to RC6, 195m 6 holes, 1m and 2m sample interval) drilling.Cambrian Mining N.L. 1994-1997Fox Mobile B40 RC drill rig is used by Southern Cross Drilling in 1995Enterprise Metals Limited, 2010 to 2014An RC drilling program comprising 31 holes for 4,048m was completed by Enterprise Metals Limited during late October to early December 2011. A second RC program comprising 16 holes for 2202 meters, focused on extending the gold mineralization around the Burgess Find Prospect.Askari Metals 2021-2022All 3 phase of drilling were done by OreDrill.Reverse circulation (RC) percussion drill holes were used. The hole dip was -50°.RC percussion drilling was performed with a face sampling hammer bit (bit diameter between 4\( \frac{1}{2} \) and 5 \( \frac{1}{4} \) inches), and samples were collected by a cone splitter.</td></tr><tr><td>Drill sample recovery</td><td>Method of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias</td><td>Valiant Consolidated Limited 1981No sample recovery info available.Miralga Mining N.L. 1986-1989No sample recovery info available.Cambrian Mining N.L. 1994-1997No sample recovery info available.</td></tr></table>
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<table><tr><td>Criteria</td><td>JORC Code Explanation</td><td>Commentary</td></tr><tr><td></td><td></td><td>Phase 3 (ABRC033 to ABRC074) downhole surveyed by Oredrill using EZGYRO Multishot. No downhole survey for ABRC037.</td></tr><tr><td>Data spacing and distribution</td><td>Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedures) and classifications applied.Whether sample compositing has been applied.</td><td>Combined historic and AS2 drill holes, the drill spacing along the strike ranges from 20m to 80m. Except for the north part of the the Benbur-Christmas Gift, the drill spacing ranges from 20m to 40m. along the strike. Downdip spacing ranged between 15 and 20m.No compositing of sample intervals was undertaken. The majority of the AS2 drilling was 1m sample lengths.The data spacing and distribution is sufficient to establish geological and grade continuity appropriate for mineral resource estimation of Inferred category resource.</td></tr><tr><td>Orientation of data in relation to geological structure</td><td>Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.</td><td>Most of the holes (including historic holes) were drilled perpendicular to the mapped strike of the lodes and surface outcropping lithologies and drilled from the hanging wall side toward the steeply east-dipping lodes.The orientation of the drilling is deemed appropriate and unbiased</td></tr><tr><td>Sample security</td><td>The measures taken to ensure sample security.</td><td>Historic sampling security were thought good.Askari Metals 2021-2022All samples were collected and accounted for by AS2 employees/consultants during drilling. All samples were bagged into calico and plastic bags and closed with cable ties. Samples were transported to Perth from the logging site by AS2 employees/consultants and submitted to the lab using courier companies.The appropriate manifest of sample numbers and a sample submission form containing laboratory instructions were submitted to the laboratory. Any discrepancies between sample submissions and samples received were routinely followed up and accounted for.</td></tr><tr><td>Audits or reviews</td><td>The results of any audits or reviews of sampling techniques and data.</td><td>No audits have been conducted on the historic data to our knowledge.Author reviewed database provided by Arkari Metals with Lab reported results.</td></tr></table>
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<table><tr><td>Criteria</td><td>JORC Code Explanation</td><td colspan="5">Details</td></tr><tr><td rowspan="24"></td><td rowspan="24"></td><td>Z</td><td>150</td><td>408</td><td>3</td><td>86</td></tr><tr><td colspan="5">Table 3: Block Model Limits of Minor Zones</td></tr><tr><td>Axis</td><td>Minimum</td><td>Maximum</td><td>Size (m)</td><td>Number</td></tr><tr><td>E</td><td>647,210</td><td>648,320</td><td>3</td><td>370</td></tr><tr><td>N</td><td>6,510,965</td><td>6,512,255</td><td>3</td><td>430</td></tr><tr><td>Z</td><td>240</td><td>408</td><td>3</td><td>56</td></tr><tr><td colspan="5">- The main items and properties of the block model are shown in Table 4 below.</td></tr><tr><td colspan="5">Table 4: Main Item and Properties of Block Model</td></tr><tr><td>Item</td><td colspan="4">Properties</td></tr><tr><td>TOPO</td><td colspan="4">Percent of block volume below topography</td></tr><tr><td>ZONE</td><td colspan="4">Code of domains</td></tr><tr><td>ZONE%</td><td colspan="4">Percent of block volume inside domains</td></tr><tr><td>AUOK</td><td colspan="4">Grade of Au, Ordinary Kriging</td></tr><tr><td>AUID2</td><td colspan="4">Grade of Au, inverse distance of power 2</td></tr><tr><td>AUID3</td><td colspan="4">Grade of Au, inverse distance of power 2</td></tr><tr><td>SG</td><td colspan="4">Gravity, 2.3 t/m3for oxide, 2.6 t/m3for transition, and 2.9 t/m3for fresh</td></tr><tr><td>DIST</td><td colspan="4">Distance to the closest composite</td></tr><tr><td>ADIST</td><td colspan="4">Average distance to the composites</td></tr><tr><td>DH#</td><td colspan="4">Number of drilling holes used for the block</td></tr><tr><td>SAM#</td><td colspan="4">Number of composites used for the block</td></tr><tr><td>CAT</td><td colspan="4">Category of Mineral Resources, 1 stand for Measured Resources, 2 stand for Indicated Resources, and 3 stand for Inferred Resources</td></tr></table>
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• Grade interpolation
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- Ordinary Kriging (the “O.K”) was used for the grade interpolation, and Quartered circles were used for grade estimation.
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- Solid wireframe models were used as solid constraints for the grade interpolation.
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- Three passes were used for the grade interpolation. Parameters used in the grade interpolation for the three mineralization domains are shown in Table 5 through Table 7, respectively.
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ASKARI
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ASX ANNOUNCEMENT | FOR PERIOD ENDING 30 JUNE 2024
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QUARTERLY
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REPORT
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askarimetals.com
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QUARTERLY REPORT
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ASX:AS2
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TENEMENT SUMMARY AT 30 JUNE 2024
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<table><tr><td>TENEMENT ID</td><td>TYPE</td><td>STATUS</td><td>HOLDER</td><td>AREA (km2)</td><td>AS2 INTEREST</td></tr><tr><td>E70/5049</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td>17.6</td><td>100%</td></tr><tr><td>E70/6127</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/5842</td><td>Exploration</td><td>Active</td><td>Springdale Gold Pty Ltd</td><td>167</td><td>100%</td></tr><tr><td>EL9217</td><td>Exploration</td><td>Active</td><td>Springdale Gold Pty Ltd</td><td>217</td><td>100%</td></tr><tr><td>E47/4170</td><td>Exploration</td><td>Pending</td><td>First Western Gold Pty Ltd</td><td>9 BL</td><td>100%</td></tr><tr><td>E52/3718</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td>2 BL</td><td>100%</td></tr><tr><td>E52/3719</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td>2 BL</td><td>100%</td></tr><tr><td>E80/5313</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td>3.25</td><td>100%</td></tr><tr><td>E52/4010</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td>101 BL</td><td>100%</td></tr><tr><td>E52/4025</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td>142 BL</td><td>100%</td></tr><tr><td>E45/5966</td><td>Exploration</td><td>Active</td><td>Greenstone Lithium Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6224</td><td>Exploration</td><td>Active</td><td>Greenstone Lithium Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6117</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6118</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6119</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6120</td><td>Exploration</td><td>Pending</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6121</td><td>Exploration</td><td>Pending</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6122</td><td>Exploration</td><td>Pending</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6123</td><td>Exploration</td><td>Pending</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6124</td><td>Exploration</td><td>Pending</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/6125</td><td>Exploration</td><td>Pending</td><td>First Western Gold Pty Ltd</td><td></td><td>100%</td></tr><tr><td>E45/4907</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td>35 BL</td><td>100%</td></tr><tr><td>E45/5982</td><td>Exploration</td><td>Active</td><td>First Western Gold Pty Ltd</td><td>5 BL</td><td>100%</td></tr><tr><td>EPL 7345</td><td>Exploration</td><td>Active</td><td>Kokerboom Mineral Processing (Pty) Ltd</td><td>\( 108km^2 \)</td><td>100%</td></tr><tr><td>EPL 8535</td><td>Exploration</td><td>Active</td><td>Earth Dimensions Consulting (Pty) Ltd</td><td>\( 200km^2 \)</td><td>80%</td></tr><tr><td>EPL 7626</td><td>Exploration</td><td>Active</td><td>Green Lithium Exploration (Pty) Ltd</td><td>\( 68km^2 \)</td><td>100%</td></tr><tr><td>Matemanga Uranium Project</td><td>Exploration</td><td>Pending</td><td>Infinum Uranium Co. Ltd</td><td>\( 260km^2 \)</td><td>100%</td></tr></table>
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ACN 646 034 460 | askarimetals.com
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Appendix 5B
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Mining exploration entity or oil and gas exploration entity quarterly cash flow report
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Name of entity
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Askari Metals Limited
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<table><tr><td>ABN</td><td>Quarter ended (“current quarter”)</td></tr><tr><td>39 646 034 460</td><td>30 June 2024</td></tr></table>
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<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (12 months) $A'000</td></tr><tr><td>1.</td><td>Cash flows from operating activities</td><td></td><td></td></tr><tr><td>1.1</td><td>Receipts from customers</td><td></td><td></td></tr><tr><td>1.2</td><td>Payments for(a) exploration & evaluation(b) development(c) production(d) staff costs(e) administration and corporate costs</td><td>(743)</td><td>(1,381)</td></tr><tr><td>1.3</td><td>Dividends received (see note 3)</td><td></td><td></td></tr><tr><td>1.4</td><td>Interest received</td><td>-</td><td>11</td></tr><tr><td>1.5</td><td>Interest and other costs of finance paid</td><td>-</td><td>(5)</td></tr><tr><td>1.6</td><td>Income taxes paid</td><td></td><td></td></tr><tr><td>1.7</td><td>Government grants and tax incentives</td><td></td><td></td></tr><tr><td>1.8</td><td>Other (provide details if material)</td><td></td><td></td></tr><tr><td>1.9</td><td>Net cash from / (used in) operating activities</td><td>(854)</td><td>(2,231)</td></tr></table>
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<table><tr><td>2.</td><td>Cash flows from investing activities</td><td></td><td></td></tr><tr><td>2.1</td><td>Payments to acquire or for:</td><td></td><td></td></tr><tr><td></td><td>(a) entities</td><td></td><td></td></tr><tr><td></td><td>(b) tenements</td><td>-</td><td>(31)</td></tr><tr><td></td><td>(c) property, plant and equipment</td><td></td><td></td></tr><tr><td></td><td>(d) exploration & evaluation</td><td>(266)</td><td>(2,732)</td></tr><tr><td></td><td>(e) investments</td><td></td><td></td></tr><tr><td></td><td>(f) other non-current assets</td><td></td><td></td></tr></table>
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ASX Listing Rules Appendix 5B (17/07/20)
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+ See chapter 19 of the ASX Listing Rules for defined terms.
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Appendix 5B
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Mining exploration entity or oil and gas exploration entity quarterly cash flow report
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<table><tr><td colspan="2">Consolidated statement of cash flows</td><td>Current quarter $A'000</td><td>Year to date (12 months) $A'000</td></tr><tr><td>2.2</td><td>Proceeds from the disposal of:(a) entities(b) tenements(c) property, plant and equipment(d) investments(e) other non-current assets</td><td></td><td></td></tr><tr><td>2.3</td><td>Cash flows from loans to other entities</td><td></td><td></td></tr><tr><td>2.4</td><td>Dividends received (see note 3)</td><td></td><td></td></tr><tr><td>2.5</td><td>Other (provide details if material)</td><td></td><td></td></tr><tr><td>2.6</td><td>Net cash from / (used in) investing activities</td><td>(266)</td><td>(2,763)</td></tr></table>
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<table><tr><td>3.</td><td>Cash flows from financing activities</td><td></td><td></td></tr><tr><td>3.1</td><td>Proceeds from issues of equity securities (excluding convertible debt securities)</td><td>58</td><td>1,180</td></tr><tr><td>3.2</td><td>Proceeds from issue of convertible debt securities</td><td></td><td></td></tr><tr><td>3.3</td><td>Proceeds from exercise of options</td><td></td><td></td></tr><tr><td>3.4</td><td>Transaction costs related to issues of equity securities or convertible debt securities</td><td>-</td><td>(83)</td></tr><tr><td>3.5</td><td>Proceeds from borrowings</td><td>200</td><td>700</td></tr><tr><td>3.6</td><td>Repayment of borrowings</td><td></td><td></td></tr><tr><td>3.7</td><td>Transaction costs related to loans and borrowings</td><td>-</td><td>(36)</td></tr><tr><td>3.8</td><td>Dividends paid</td><td></td><td></td></tr><tr><td>3.9</td><td>Other (provide details if material)</td><td></td><td></td></tr><tr><td>3.10</td><td>Net cash from / (used in) financing activities</td><td>258</td><td>1,761</td></tr></table>
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<table><tr><td>4.</td><td>Net increase / (decrease) in cash and cash equivalents for the period</td><td></td><td></td></tr><tr><td>4.1</td><td>Cash and cash equivalents at beginning of period</td><td>1,082</td><td>3,453</td></tr><tr><td>4.2</td><td>Net cash from / (used in) operating activities (item 1.9 above)</td><td>(854)</td><td>(2,231)</td></tr><tr><td>4.3</td><td>Net cash from / (used in) investing activities (item 2.6 above)</td><td>(266)</td><td>(2,763)</td></tr><tr><td>4.4</td><td>Net cash from / (used in) financing activities (item 3.10 above)</td><td>258</td><td>1,761</td></tr></table>
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| 7 |
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ASX Listing Rules Appendix 5B (17/07/20)
|
| 8 |
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+ See chapter 19 of the ASX Listing Rules for defined terms.
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<table><tr><td>Criteria</td><td>JORC Code explanation</td><td>Commentary</td></tr><tr><td></td><td></td><td>system and GEM GSM-19W Overhauser magnetometer.The Loupe system incorporates a 3-component coil sensor with 100kHz bandwidth and fast-switching transmitter loop.The TDEM surveys were completed using both a ‘slingram’ configuration, with the receiver trailing the transmitter by 10m.The ground gravity surveys were completed by Initial Exploration Services, Canada.The gravity surveys were completed using a Scintrex Autograv CG-6 gravity meter, and were completed along N-S orientated survey lines with a nominal 150m line spacing and 50m station spacing.Rock and gossan samples are collected from in-situ, or occasionally float, material at surface as determined by the sampling geologist. The sample weights range between 0.5-5kg and are collected in a marked calico bag for submission for assay.</td></tr><tr><td>Drilling techniques</td><td>Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).</td><td>Historical diamond drilling was conducted using a Cominco Ltd. owned, heli-portable Boyles 25A rig with standard NQ diameter core tubing, or a Boyles 18A rig with standard BQ diameter core tubing. Drill core was not oriented.Modern diamond drilling was conducted with heli-portable rigs. The 2016 program was completed by Geotech Drilling Services Ltd. using a Hydracore 2000 rig with standard NQ diameter core tubing. The 2018, 2022, and 2023 programs were completed by Top Rank Diamond Drilling Ltd. using an Aston Bay owned Zinex A5 rig with standard NQ2 diameter core tubing (2018, 2022), and a Top Rank Discovery II rig with standard NQ2 diameter core tubing (2018, 2022, 2023). The modern drill core was not oriented.</td></tr><tr><td>Drill sample recovery</td><td>Method of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.</td><td>Modern RC drilling was completed by Northspan Explorations Ltd. with a heli-portable Multi-Power Products “Super Hornet” RC rig and ‘Grasshopper’ track mounted rigs utilizing two/three external compressors, each providing 300 cfm/200 psi air. The rig used a modern 3 1⁄2 inch face sampling hammer with 5-foot rod lengths, inner-tube assembly, and 3 1⁄2 inch string diameter.</td></tr></table>
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Geology and Resources
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Storm
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| 3 |
+
<table><tr><td>Deposit</td><td>Category</td><td>Mt</td><td>Grade (Cu)</td><td>Grade (Ag)</td><td>Contained Metal (Tonnes) (Cu)</td><td>Contained Metal (Ounces) (Ag)</td></tr><tr><td rowspan="2">Cyclone</td><td>Indicated</td><td>4.88</td><td>1.26%</td><td>3.45g/t</td><td>61,600</td><td>541,100</td></tr><tr><td>Inferred</td><td>7.21</td><td>1.20%</td><td>4.03g/t</td><td>86,800</td><td>934,700</td></tr><tr><td>Chinook</td><td>Inferred</td><td>2.19</td><td>1.47%</td><td>4.00g/t</td><td>32,300</td><td>282,300</td></tr><tr><td>Corona</td><td>Inferred</td><td>1.64</td><td>0.89%</td><td>1.48g/t</td><td>14,700</td><td>77,700</td></tr><tr><td>Cirrus</td><td>Inferred</td><td>1.55</td><td>0.62%</td><td>1.29g/t</td><td>9,700</td><td>64,400</td></tr><tr><td>Total</td><td></td><td>17.5</td><td>1.17%</td><td>3.38g/t</td><td>205,000</td><td>1,900,200</td></tr></table>
|
| 4 |
+
Storm Copper Project resource estimate at 0.35% Cu cut-off grade (Mt = million tonnes)
|
| 5 |
+

|
| 6 |
+
|
| 7 |
+
American West Metals
|
| 8 |
+
total copper resource
|
| 9 |
+
254,053 tonnes
|
| 10 |
+
In addition to large quantities of zinc, silver, indium, gold and lead
|
| 11 |
+
West Desert
|
| 12 |
+
Large Zinc-Copper-Silver-Indium skarn and carbonate replacement deposit (CRD)
|
| 13 |
+
<table><tr><td>Category</td><td>Mt</td><td>Grade (Zn)</td><td>Grade (Cu)</td><td>Contained Metal (Tonnes) (Zn)</td><td>Contained Metal (Tonnes) (Cu)</td></tr><tr><td>Indicated</td><td>27.4</td><td>3.79%</td><td>0.14%</td><td>1,037,278</td><td>40,588</td></tr><tr><td>Inferred</td><td>6.3</td><td>4.01%</td><td>0.13%</td><td>253,626</td><td>8,465</td></tr><tr><td>Total</td><td>33.7</td><td>3.83%</td><td>0.15%</td><td>1,290,904</td><td>49,053</td></tr></table>
|
| 14 |
+
West Desert resource estimated using a 3.5% Zn equivalent cut-off grade (Mt = million tonnes)
|
| 15 |
+
Seal
|
| 16 |
+
Sediment hosted, stratabound zinc-silver deposit
|
| 17 |
+

|
| 18 |
+
|
| 19 |
+
<table><tr><td>Category</td><td>Mt</td><td>Grade (Zn)</td><td>Grade (Ag)</td><td>Contained Metal (Tonnes) (Zn)</td><td>Contained Metal (oz) (Ag)</td></tr><tr><td>Inferred</td><td>1.0</td><td>10.24%</td><td>46.5g/t</td><td>103,000</td><td>1,500,000</td></tr><tr><td>Total</td><td>1.0</td><td>10.24%</td><td>46.5g/t</td><td>103,000</td><td>1,500,000</td></tr></table>
|
| 20 |
+
Seal resource estimated using a 4.0% Zn equivalent cut-off grade (Mt = million tonnes)
|
| 21 |
+
Cautionary Statement:
|
| 22 |
+
The estimates of minerals resources referred to in this Presentation in regard to the Seal Zinc Project are historical and foreign in nature and are reported in accordance with Canadian NI 43-101 Standards and not in accordance with the 2012 JORC Code. A competent person has not done sufficient work to classify these estimates as mineral resources or ore reserves in accordance with the 2012 JORC Code. It is uncertain that following evaluation and/or further exploration work that the historical and foreign resource estimates of mineralisation will be able to be reported as mineral resources or ore reserves in accordance with the 2012 JORC Code.
|
| 23 |
+
Resource figures are listed on a 100% basis. American West Minerals has an 80% ownership of the Storm and Seal deposits.
|
| 24 |
+
A full copy of the Technical Reports can be viewed at: www.americanwestmetals.com
|
| 25 |
+
COPPER.
|
| 26 |
+
WORTH.
|
| 27 |
+
22
|