RE: Pre Drill - Investor Meet Presentation. 26 March.25 May 2025 08:19
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Alastair Goodship:
"First one for you. Mark, will you be seeking a partner to help fund further exploration at Yarrol, I'm concerned that you will run out of cash and have to dive into prices if you don't."
Mark Stephenson:
"Well, we've worked very hard at reducing the overheads the GMA at Mila, the opportunity we've been given by EMX had an extra, extremely small. It was only 25,000 Aussie dollars upfront payment to be made with all the loaded towards success, because they believe that it's a great opportunity, really good potential for actually getting into production. So they wanted something to deliver the ability for them to get royalties down the road. And we think we our plan, can potentially unlock the whole of the structure. So the current the current drilling fund, drilling campaign, which will take us to the ownership of the project, is fully funded, and we have enough capital in the bank, as you could have seen from our recent interim results to last us out with our low GMAs to well beyond the end of the year. So going back to partners, we feel very confident that we have enough in the bag to demonstrate real value on this project."
Alastair Goodship:
"I'll say, on my side, is that the drilling campaign is being planned to be very efficient, and as Mark mentioned, we don't have to commit a huge amount to actually follow through on the deal with EMS. In terms of partners, we understand our job is to return value to shareholders and investors. So if someone comes along, obviously offer's something that's very good will, of course, consider of course, consider it. And in terms of partners in the local area, we have a wide network in the mining industry between everyone involved in the company, and we are constantly cheap talking to people who work, you know, in the neighborhood, and the neighboring operations and other operators in Australia as well. So we always keep those conversations open, but our priority is maximize the value of this asset at the moment and make sure we get the best value for shareholders in the near to mid term. Ok. Second question, could you give an update on the other assets in Queensland? What is your plan with those? Certainly, both Manol and Mount Steadmann are very exciting prospects for us. Obviously, during the field visit, we took a number of rock chip and grab samples from Manol and the historic workings there, which return very good grades, you know, over 20 grams per ton gold and percentages of copper. There's a lot of potential on that license. It's just we have to focus, at the moment on Yarrol. We see that as biggest priority for near term value return. But then within once that drilling is complete, we will of course, be reviewing data on Manol and Mount Steadman as well. Again, had a historic resource, very shallow as well. So we see potential there as well, and just a really bolt on ounces and the Mueller's control through all three licenses. So we are very excited by these. By these
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