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Ref for HELPFUL:

Southern Cross Gold [SX2] ANN/RNS dated 11 May 2026: "2026 Corporate Presentation]":

https://hotcopper.com.au/asx/sx2/

"Pg 8/34: Sunday Creek EXPLORATION TARGET: 2.2Moz Au Eq to 3.2Moz Au Eq. There has been insufficient exploration to estimate a Mineral Resource and it is ___UNCERTAIN___IF, FURTHER exploration , __will RESULT in a estimation of a ___MINERAL RESOURCE."

My Comment: In short, "INSUFFICIENT exploration...FURTHER exploration...Mineral Resource". GUESS where further exploration could be done? Yes, RRR Kilmore-Kilmore West, 15 mins away from the SX2 Sunday Creek boundary.

The NEAREST prospect , C H R I S T I N A hit 1,061 g/t au gold within vein is located WEST __ to ___RRR Kilmore-Kilmore West is 15 mins away.

In the Victorian newspaper dated 25 Jan 1894: "... ALL D Y K E formation is more strongly marked at SUNDAY CREEK ... the APOLLO MINE, now owned by Mr R. Beeston , IS __ON THE DYKE__, also the C H R I S T I N A , the former on the Eastern side and latter on the WESTERN SIDE." https:///trove.nla.gov.au/newspaper/article/57942219 [Australian Govt Archives -National Library of Australia].

[1]

RRR 10 JUNE 2024 RNS: "SXG is beginning to attract international attention. These drill grades are associated with the SAME DYKE that crosses OUT OF SXG ground to the ____W E S T __ and is believed to run W E S T W A R D into RRR ground. Given the proximity to Sunday Creek, the DYKES forming an intepreted ring structure around Mt Disappointment are of particular interest. "

"There are 3 GOLD FIELDS within the project, the most NOTABLE being DONNYBOOK. The gold field has a S T R I K E o f == 4KM ==and an ==average ==grade of 142 g/t au gold."==

[2] RRR 12 JUNE 2024 RNS: "RRAL holds...with 800 sq km KILMORE tenements NOW CREATING some SIGNIFICANT INTEREST as they ___LIE ___JUST TO THE W E S T___ of ASX listed Sothern Cross 's Sunday Creek gold discovery."

[3] RRR RNS, 23 AUG 2024: "..AND THAT, an _______ O F F E R has been R E C E I V E D___in respect of its interest in Red Rock Resources Australasia Ltd RRAL."

Conclusion: Exploration Ground , if further NEEDED , will be at RRR's Australasia [RRAL] at Kilmore & Kilmore West.

VICTORIA, AUSTRALIA LAST M & A : Deal closed on 22 Dec 2025.

Just for EXPLORATION ground ie licence, near Agnico Eagle paid A$17M in C A SH plus $3M strategic share placement . Called the Greater Fosterville exploration licence EL007795, this asset ==========COMPLETELY SURROUNDS=====Agnico's Fosterville Mine.

Ref to check: "S2 to sell Fosterville __TENEMENT__ to AGNICO EAGLE."- ASX ANN, S2 Resources. https://hotcopper.com.au/asx/s2

DYOR. Please check as there can be mistakes, errors, typos. News, 19.5.26

"Supporting the SALE of 1 of the WORLD'S LARGEST iron ore assets."- Macquaire Capital, 5 Feb 2026.

https://www.macquaire.com/au/en/insights/supporting-the-sale-of-one-of-the-worlds-largest-iron-ore-assets-voc-group.html

"Macquarie Capital was EXCLUSIVE FINANCIAL ADVISOR to VOC Group on the sale of its 25% interest in RHODES RIDGE - 1` of the world's largest and highest quality___________ U N D E V E L O P E D __iron ore assets situated in Western Australia's Pilbara region. VOC Group is a private co established by mining entrepreneur PETER WRIGHT who-alongside Lang Hanc<ock played a key role in discovering Western Australia's Pilbara iron ore region."

"Mitsui acquired VOC's 25% stake for ___$A5 BILLION, representing THE HIGHEST EVER VALUATION paid for a ===PRE-CONSTRUCTION MINING ASSET GLOBALLY.== The deal unlocked substantial value, enabled the co to MONETISE ==AN ILLIQUID ASSET=="

"In parallel, Mitsui undertook a transaction with VOC's JV PARTNER, AMB Holdings on the same economic terms determined by VOC to ===acquire an ADDITIONAL 15% in the RR JV for ===$1.9 BILLION==, taking the TOTAL TRANSACTION TO ===$A8 BILLION, Mitsui's single largest transaction in its 350 year history."

"The transaction...demonstrates Macquarie Capital's deep expertise in the sector, ...showcases effective collaboration which serves as a model for furthern international investments in the Australian resources sector."

Comment: PART SALE of 25% and 15% in Rhodes Ridge iron ore deposit, a UNDEVELOPED deposit/asset which Macquaire sold -Macquaire is an investment bank, tier 1. So, an illiquid asset can be sold, so can ROYALTIES which are sold everyday. The grade is 62.2% FE but magnetite is up to 68-70%Fe with refining [green iron ore]. RHODES RIDGE has a 5.3bn tonnes and has a 25 year operational footprint and could sustain for 170 years at standard production rates [in case folks dont understand , the tonnage per yr will determine how long the resource can stretch].

RIO owns 50% and MITSUI now 40% having paid VOC and AMB a total of A$8BN to buy out their 25% +15% stake.

How is this relevant to RRR? It is INDUSTRY news that supports the article below about iron ore depleting ie hematite [see below the Mt Bevan article].

This is M & A of a Tier 1 iron ore deposit, UNDEVELOPED and yet can be SOLD . DYOR.

contd.

mt bevan & mt ida { hanc<ock prospecting/legacy iron ore, asx jv] :

with 3.1bn tonnes of magnetite , this is a massive deposit. to compare say, this sort of size one could look at simandou, in guinea which is a rio jv but cost $20bn+, 630km of railway through mountains, and a new port had to be built. stated in the press: "simandou is a pilbara killer." pilbara is in western australia. but the size of simondou? simondo is a 3bn tonne iron ore deposit. so, yilgarn : mt bevan and mt ida is posied to be a new magnetite iron ore [green] district size.

so, is it relevant to rrr? yes. why? rrr still retains 0.75% of mt ida royalty. in 2012, which is 14 years ago, anglo pacific , a ft250 royalty co bought the other 0.75% mt ida royalty from rrr for $14m . dr michael green , a well known mining analyst stated 100% of 1.5% of mt ida royalty valued at $54m in 2012 [ see his feb 2012 note]. so, 1/2 of 1.5% mt ida royalty is 0.75% =$54m divided by 2= $27m vs $14m paid by ango pacific [now name changed to ecora] = 37% discount due to the fact that 14 years ago, there was no hanc<**** /legacy jv at mt bevan or $5bn capex by mt bevan if fdi decision made, 27km haul road thru mt ida tenements etc as stated.

today, 19 may 2026, 14 years later, this royalty has a commercial value. why? royalty co's buy forward cash flow of mining co's. for example , solgold needed funding and sold their royalty-streaming for $100m to franco nevada, a royalty co and later more to another big royalty co ie osisko. solgold sold their alpala deposit in ecuador last year ie 2025 [latter part] to jiangxi for $1.2bn and in cash . it has all been fully paid. jiangxi has not stated when they will start production nor have they proceeded per what i know but do check. but franco & osisko have bought the royalties.

today, rick rule tweeted that he will be interviewing the ceo of ecora. ecora will pay the $8m to rrr upon 2 milestones and given lenders are not secured lenders [see rrr at company house and there are no charges on rrr's assets].

mt bevan & mt ida will have a life of mine of 75 years [dr michael green's note stated mt ida 50 years. mt bevan is 25 years] and this will be the type of long life mine. today, valuation of rrr mt ida will have to be upgraded for the increased resource -dr michael green's broker note on the rrr partial sale of mt ida royalty to anglo pacific 2012 stated that mt ida's resource was 530mt tonnes via a scoping study. today, mt ida is 1.85bn tonnes =3.7x bigger and therefore $14m [with 37% haircut due to 14 years ago, there was nothing in the yilgarn ] x3.7 times larger =$52m. but commercial m & a = royalties sold at 10 or 15 times [ in other words sold for 10 to 15 years of yearly cashflow in royalty revenue]. dr green's 2012 note was $8m a year of royalty revenue to rrr [3.7x smaller ], so if 3.7x bigger , it will be $8m x3.7 times= $30m a year for 0.75% mt ida royalty. i ran the figure past chairman bell on x in recen

The exact title was posted by HELPFUL on the main RRR forum dated 18 May 2026 at 06:35 with link. The link given by Helpful comes from the LEGACY IRON ANN dated 18 May 2026 relating to their ANNUAL REPORT wherein MT BEVAN was cited : Hanc<ock Prospecting and Legacy JV advancing to FEASIBILITY STUDY and FORWARD WORKS eg 73 bore holes for hydrogeological etc [this is for water]. As usual, it was shot down as irrelevant. But it is relevant and HELPFUL ended his post by "DYOR." No one gets a chance to REALLY DISCUSS RRR's asset ie MT IDA which officially is "ADJACENT" to Mt Bevan.

MT IDA MAGNETITE IRON ORE, YILGARN, WESTERN AUSTRALIA:

100% of Mt Ida was the FLAGSHIP asset when RRR IPO'ed in 2005. Chairman of RRR took Mt Ida 100% to Jupiter Ltd on the ASX where A. Bell was the director and Chairman was the legendary Brian Gilbertson, former CEO of BHP [a book written :THE BIG FELLA: THE RISE AND RISE OF BHP was about Brian ] . In 2020, Jupiter's Annual Report stated that "MT IDA, Tier 1, with infrastructure, high grade and quality." It was signed off by both Brian and Director A. Bell. Jupiter spent $50m doing the studies and so, they spun out MT IDA into Juno, a ASX 2021 IPO.

JUNO, ASX's 2 latest ANN ie Quarterlies and Sale of Mt Mason said the same thing: Juno has granted Golden Valley Yilgarn [GVY] a 8 year HAUL ROAD ACCESS DEED to BUILD THROUGH MT IDA TENEMENTS [Juno said it helps them as they dont have to build again another road]. ___ MT IDA IS NOW IN DEVELOPMENT technically as GVY is currently building this road May 2026 and by mid-2026,___ they will ship their Mt Mason hematite iron ore to Port Esperance. SO ,___ YILGARN is OPEN___ for iron ore although hematite iron ore is dig up and ship . See my post behind which explains the situation in Australia and globally about hematite and MAGNETITE, the latter in demand as it is green. Hanc<ock Prospecting/Legacy JV at Mt Bevan is a 1.29bn tonne magnetite deposit with LIFE OF MINE 25 YRS and is moving to FS etc and then FID [FINAL INVESTMENT DECISION] and will put up $5BN for capex. MT BEVAN will be building a 125K SLURRY PIPELINE and it is logical they will run this alongside the haul road and then to MENZIES NORTH , onto the siding of Juno if they share this facility and then BY RAIL TO PORT ESPERANCE. GVY has also been granted USE OF CASSINI VILLAGE , to be used as a mining camp. So, in short, MT BEVAN AND MT IDA will use Juno's infrastructure and cheaper than building two of everything as the govt encourages to not build two roads etc?

JUNO's MT IDA is ALMOST DOUBLE OF MT BEVAN WITH 1.85BN TONNES OF MAGNETITE IRON ORE [GREEN which commands a higher price than just ordinary iron ore or hematite] with a COMPLIANT JORC - the MINE OF LIFE IS 50 YEARS. Juno's two latest ANN at https://hotcopper.com/asx/jno/ states they are "RUNNING PROCESS" for a "EARN-IN PARTNER AT PROJECT LEVEL " to fund studies and develop.

YILGARN DISTRICT : OPENED WITH GVY'S 27KM HAUL ROAD, MAY 2026 &

REM Plc started as a shell under Chairman Lenigas who started the co. Lenigas funded the drilling of SONORA lithium project because Bacanora listed in Canada had capital markets that were not favourable at the time. Lenigas then got the TESLA contract for Bacanora but on Twitter, Lenigas said the board rejected it. Seeking Alpha wrote an article to say, it is not easy for a small co like REM to get a big Tesla contract and that would have meant that FUNDING to build would likely be successful with such an offtaker. Then, there was that 5p party in London which I did not attend. Subsequent to that, everyone knew that Leni would made a takeover bid for Bacanora and he did so so at £1. But Bacanora leaked it out to the market and REJECTED it saying it was not sufficient. But promptly, accepted GANFENG's offer for Bacanora eventaully at $361m. Initial offer 67.5p on May 2021 and finally 73.6p on Aug 2021, the latter with a sweetner of Zinnwald shares thrown in. FAST FORWARD: The Mexican Govt took Ganfeng's licence at Sonora Lithium, Mexico & they have launched a international arbitration case vs Mexico. The Mexican govt said they did not want to fight Ganfeng and the Orr Estate so they want it consolidated into 1 case. Recently, CADENCE & REM Mexico filed their own case vs Mexico for Sonora [JV 30% with Ganfeng]. HAD LENIGAS NOT DONE THE SCOPING STUDY PROVING NPV, then it would be difficult to lodge a case without MATHS behind it. LCM is funded the case for Cadence on Non-Recourse ie if the case is lost, nothing for Cadence to pay. But for Mexico, their OFFICIAL TREASURY REPORT produced a VALUATION OF $600BN for SONOARA. WHAT HAS HAAPPENED TO CEO OF BACANORA? He is now into bauxite on the ASX together with Hohnen. Meanwhile, there is DONROE DOCTRINE and it is doubtful, that on the surface, Ganfeng get back their Sonora licence and 30% JV with Cadence, they could start a mine? But had LENIGAS taken over Bacanora, there would be no issue for an AUSTRALIAN to run the mine. So, all the delay meant that Mexico finally "nationalised" the licences and Observer842 said had Leni taken it over, then the mine would be up and running. Lenigas got Kiran to run REM but they changed the name to Cadence and with the new Chairman, they pivoted to iron ore ie Amapa in Brazil and this is now running along etc. So, that ends the story of REM plc. I will be entering ___REM II___ [what I think could be REM II? IMHO under Lenigas and hope for the best. Mon, 18 May 2026. Zeus has recently produced a broker report on the potential of the litigation etc for Cadence. News. A HISTORY ONLY.

Howezap

Thank you How, for your very succint post and support. I did not mean to post on WSBN and came back to at least say what I was waiting for. I have come to realise from all the noise that my style does not suit. That is fine but one thing I will say, this time on WSBN - I dont know. Why? I dont have further data to go on without knowing IF, WSBN drilled on or near the edges - and therefore did NOT hit the actual higher readings of the MMT [MMT can detect 1km down] etc?

On Hasties [Rincorn, ASX] - they are closer to TELFER as one can see on the aerial map released yesterday by LENI for Rincorn ---and WSBN on Twitter also did so. This is juxtapositioned by : TELFER GEOLOGY CLOSING IN: Greatland Gold has HIT higher grades at the WESTERN DOME but I have not done any checks yet of where it is. CONCLUSION: Are the new high grades hits at Telfer from new drilling heading to the structural corridor to HASTIES and by extension further out to WSBN's Red Setter? I dont know as I dont have the STRUCTURAL MAP as I had then of Greatland Gold's map released. But from a perspective How, we portray transparency and an honest account , that is the best one can do.

I will digress a bit to illustrate a FACTUAL junior explorer: Heard of Hycroft Mining? Diane Garrett took over as CEO and she has a very good C.V. However, Hycroft in Nevada had very low grade silver and gold grades with an old mill. Eric Sprott bought in and has increased to a very great extent and recently State also bought in after Diane was appointed. I saw the interview Diane did with her Chief and they were standing at the top of a flat platform and showed sweeping views below. It was called BRIMESTONE. Fast forward, Hycroft has HIT the SILVER HIGH GRADES and last I looked several days ago, Hycroft [USA listed] has a market cap of $4bn [+ -]. In short, this was NOT the halo of low grade but the high grade zone has been found . Diane is now chasing gthe FEEDER. Diane may have a good C.V but what if she did NOT find Brimestone, the high grade part of such a vast licence? Certainly, the old CEO did not find it. But with Eric Sprott and with his help, Diane raised a lot of money to restructure and drill. So, all the elements came together. In my view , I think Diane did a more thorough job given it is like finding a needle in a haystack.

Why Silver? Silver is usually found with copper deposits and not very high grade in general. To fund capex for a large copper deposit runs into billions . So, Hycroft's silver deposit situated in NEVADA, USA ---will be critical for them given silver has an industrial use. So, a happier ending here.

This will be my last post here but I came back to inform and FOR THE AVOIDANCE OF DOUBT: I dont know as I dont have much to work on ie data, maps etc . YES, HOW, you guessed it right about me ie what I do. I am rushing off. Sat, 16.5.26 Best regards How and thank you.

Part II:

Greatland Gold was 1 of the best performing going from a smaller mkt cap to today's £4.96 BILLION mkt cap, dated 15 May 2026. What happened at GGP from Day 1, I can tell from a 1st person's a/c. Greatland never found anything of note & landed on Ernest Giles [under the Geologist CEO] in Australia. It was said the prospects were in Pods. A major did some work and WALKED and share price crashed. So, Paul Johnson came in with Bell to restructure the co at around 0.10p+. Then, Paul hired Gervaise from Sydney, a fund mgr. The rest is history. The initial Black Hills were not successful as it was here and there. Then, Sam Garrett [the legendary] SOLD them HAVIERON which was a NEWCREST licence -recall Newcrest drilled 12 holes but on Aussie Geo on Hotcopper said, it was spaced out too wide at the time. GGP DRILLED HOLE 1-5 [raised money] and then drilled 4 more holes ie Hole 6-9. The VISUALS that came out -no one could read what it said. One of the holes in Hole 1-5 was excellent. But when it came to Hole 6-9, grumbles started ie it as no good etc. The bun fights were the stuff of movies ie the CEO, the posters who tried to explain the results etc. The Australian newspaper reported on the Hole 1-5 [quality paper ie THE AUSTRALIAN]. Then, posters said F, no good, need DFS etc. 3 months the co went quiet even tho Gervaise Heddle , CEO said the industry was ringing him and congratulating him. ONE FINE MORNING, AN RNS came out and NEWCREST HAD JV's in. The rest is history. Today, on Tiwtter I read quickly and I think HAVIERON is ready for FDI? But a/c to MinX, HAVIERON of GGP has gone into legendary status with Hemi, Fosterville, Sunday Creek and Bellevue [all the Aussie gold deposits]. What can one say ? Oh, they were taking digital prints etc . Why? GGP was a P & D etc. That is the hisotry of GGP and same with EEE , Solgold , the latter, buyout out by Jiangxi recently for $1.2bn in CASH and FULLY PAID OUT. What can one say? History and who knows at WSBN? Who knows at this moment? I dont know what is next etc so have to wait for RESULTS-RNS isnt it? Fri, 15 May 2026 at 6:50pm. MKT CLOSED. DYOR.

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