Operating Highlights

- PFS confirmed Kasiya as a potentially major critical metals project

- With “industry-leading” economic returns and sustainable metrics

- Objective to develop a large-scale long life rutile-graphite operation

Financial Highlights

- Interest Income $0.9m (1H23: $0.1m)

- Exploration & evaluation costs of $5.0m (1H23: $5.8m)

- Business Development costs c. $1.0m (1H23: $1.1m)

- Other overheads & expenses c. $0.8m (1H23: $0.6m)

- Share Based Payments of $1m (1H23; $1.1m)

- Net Operating Loss after tax of $7.0m (1H23: $8.5m)

Market Intelligence

- Commercialising the World’s largest rutile resource

- PFS post tax NPV8 of $1.6Bn

- Industry leading cost metrics

- Rio Tinto Strategic investor at 15%

- Strong balance sheet with Cash & Equiv. of $39.4m