Member Info for OAPK20

Commencement of Phase I RC Drilling at Lander West

First Development Resources plc ("FDR" or the "Company"), the Australian-focused exploration company, is pleased to announce the commencement of its Phase I Reverse Circulation ("RC") drilling programme at its flagship Lander West gold target within the Selta Project in the Northern Territory.

The Phase I programme has been designed to test multiple high-priority gold targets generated through the Company's systematic exploration programme, including geological mapping, geochemistry, airborne magnetics, Gradient Array Induced Polarisation ("GAIP") geophysics and target generation.

The programme is expected to comprise up to approximately 3,000 metres of RC drilling and will be completed in stages, allowing geological observations from the initial holes to inform subsequent targeting. The Company will provide further updates as the programme progresses and as results become available.

Tristan Pottas, Chief Executive Officer, commented:

"The commencement of drilling at Lander West marks an important milestone for the Company and represents the culmination of many months of systematic exploration, technical evaluation, planning and permitting. We now look forward to testing these compelling targets and providing shareholders with updates as the programme progresses."

Toast.

Ice, did you read the ASX announcement posted⬇️

Worth a look at the neighbours

https://www.itechminerals.com.au/investorarticles/ask-itech-how-soil-sampling-is-changing-itechs-exploration-method-episode-12/

Neighbours update

HIGHLIGHTS

Soil sampling returns outstanding peak values of 12.1g/t Au (SS26002, Sabre) and 9.1% Sb (FS26070, Falchion) in laboratory assays

48 of 182 samples returned >0.1 g/t Au, including 9 samples >1 g/t Au; 21 samples returned >0.1% Sb in laboratory assays

Field-portable XRF (pXRF) results correlate strongly with laboratory assays for As (ρ = 0.91), Sb (ρ = 0.87) and Pb (ρ = 0.81), validating pXRF as a rapid, low-cost first-pass targeting tool

Arsenic is confirmed as the most effective pathfinder for gold -pXRF. As correlates with laboratory Au at ρ = 0.83, almost matching laboratory As (ρ = 0.86)

Antimony shows a moderate-to-strong correlation with gold (laboratory ρ = 0.72), consistent with a coherent Au-Sb-As epizonal mineral system

Soils define new zone of mineralisation at Falchion, extending strike to over 180m

Results support the roll-out of systematic pXRF supported soil geochemistry across the 13km of structures identified in the recently flown drone magnetics

Drilling results from first phase of drilling due in next 2-3 weeks

These results are a gamechanger for how we explore at Reynolds Range. The process has demonstrated that pXRF soil geochemistry gives us reliable, real-time vectors to gold–antimony mineralisation in the field, at a fraction of the cost and turnaround time of laboratory-only programs. The survey has already identified a new zone of mineralisation at Falchion.

With 13 kilometres of prospective structures identified in the recently flown drone magnetics, and the broader 42-kilometre Stafford Gold Trend beyond that, we now have a tool that lets us screen this enormous search space quickly and effectively - defining and infilling anomalies within a single field campaign and ensuring our drilling is targeting the highest-quality gold–antimony targets.

— Managing Director Mike Schwarz

They already did.

“ I'm particularly encouraged that excavation of the drill pads uncovered gold-antimony-bearing quartz veins at several new locations, giving me further confidence that our targeting work is positioning the drill rig to properly test the scale of the mineralisation at the project.”

| Gross proceeds |£5.0m

|Placing price |3.5p

|Prior day close (02/07)|4.00p

|Discount |12.5%

|Fundraise shares |142,857,133

|Settlement shares |10,942,857 (mostly @ 3.5p; 1.2m @ 2.5p locked 2 months)

|Total new shares |153,799,990

|Post-Admission SII |769,841,026

|Dilution |24.97% of pre-money

|Broker warrants |8,571,428 @ 3.5p × 36 months (OAK Securities)

|Broker |OAK Securities (single broker)

|Admission date |08/07/2026

|Prior placing (April 2026)|2.5p × £3.0m |

|Premium vs prior placing |+40%

Once the gap is filled onwards and upwards.

If you missed it

@TristanPottas

Drilling doesn’t mark the start of exploration—it marks the culmination of it.

Months of geology, geophysics, geochemistry, target generation, permitting and planning all lead to this point. Now it’s time to test the model.

Looking forward to seeing the targets drilled. 🎯⛏️

Be interesting to see if there’s any gold at surface on the pad sites

Oscar look at previous patterns with this particular TR1 er

TR1 increased again. Wonder if the price will run again soon.

Seller out?

Per Share Value Using 934.9m shares.

€100m Award AST receives €10m ≈ £8.5m

Value per share: ≈ 0.9p

€150m Award

AST receives €15m. ≈ £12.8m Value per share: ≈ 1.4p

€250m Award

AST receives €25m. ≈ £21.3m Value per share: ≈ 2.3p

€350m Award

AST receives €35m. ≈ £29.8m Value per share: ≈ 3.2p

Heating up in Chile on the Copper front.

Hot Chili serves up another giant Chilean copper-gold hit from surface

https://thewest.com.au/business/bulls-n-bears/hot-chili-serves-up-another-giant-chilean-copper-gold-hit-from-surface--c-22439062

Norfolk makes ‘transformational’ US$50m acquisition of Chilean copper asset

https://www.ntnews.com.au/business/stockhead/norfolk-metals-lands-gamechanging-chilean-copper-project-launches-a120m-raise/news-story/acb264bb5ef9fcec9c0bb7d163cce419

https://www.msn.com/en-au/money/news/norfolk-copper-pivot-gains-bite-with-118-mt-chilean-jorc-resource/ar-AA26e0At

Big capital investment in Tintina Mines shows Chilean Copper is drawing all the right attention.

https://www.msn.com/en-au/money/markets/big-capital-investment-in-tintina-mines-shows-chilean-copper-is-drawing-all-the-right-attention/ar-AA258EI0

Remember there's a time difference between ICSID secretariat and here. Also ICSID requires the consent of both parties to publish awards, decisions and orders.

Posted previously.

THE STRUCTURE (who owns what, and why this matters)

Corporate & JV structure

• Ascent Resources Plc (AST) – listed parent

• Ascent Slovenia Ltd (ASL) – 100% owned

• Ascent Malta – holds 75% JV interest in Petišovci

• Geoenergo – 25% JV partner, concession holder (now insolvent)

JV economics (per JOA, confirmed by tribunal)

• Ascent funded 100% of costs

• Entitled to:

• 90% of production revenues until cost recovery

• 75% thereafter

This is why historic production cashflows are so material in the domestic arbitration.

DOMESTIC ARBITRATION & GEOENERGO INSOLVENCY

What ASL is legally owed (confirmed)

Production revenues (binding tribunal award)

• €2.89m – already accepted by administrator

• €4.99m – final arbitration award (July 2025)

• Total: ~€7.88m

Plant & movable property

• Conditional claim: €3.04m

• Subject to handover memo (company stated intent to complete)

Ancillary claims & costs

• Abandonment-related funds: ~€0.11m

• Arbitration costs:

• €79k creditor claim

• €56.8k cash payable immediately

Total gross domestic claims ≈ €11.2m

What is realistically recoverable?

Critical facts (from RNS):

• Cash in estate (Sept 2024): €1.66m

• Production ongoing

• ASL = ~82% of recognised creditors

Realistic recovery range:

• Low: €3–4m

• Mid: €5–6m

• High: €7–8m

On a fully diluted basis: 0.3p to 0.6p per share

ECT / ICSID CLAIM

• €656.5m damages claim

• Based on:

• Expropriation of 75% economic interest

• Lost future value, production, reserves

• Filed by:

• Ascent Resources Plc

• Ascent Slovenia Ltd

This is not revenue owed This is damages for state action

ECT outcome scenarios

ICSID / ECT reality:

• Headline claims are anchors, not expectations

Sensitivity (gross → net)

% of claim| Gross € | Likely net to AST

5% | 33m | ~15–25m

10% | 65m |. ~40–60m

15% |. 98m |. ~70–85m

20% |. 131m |. ~100–110m

ECT outcome scenarios

Net ECT € Pence/share

€20m ~1.8–2.0p

€40m ~3.5–4.0p

€60m ~5.5–6.0p

€100m ~9–10p

Add domestic recovery:

• +0.3–0.5p

Last 2 of the day.

Will they complete one? 30th June last year

Utah Brine Project – Clarification

Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) refers to an announcement made by Mandrake Resources Limited (“Mandrake”) on 24 April 2026, alleging that a number of lithium placer claims filed by Utah Brine Corporation (“UBC”), 51% owned by Neometals, overlap Mandrake’s existing claims and are invalid. Neometals does not accept and absolutely refutes the allegations made by Mandrake.

In formal, detailed correspondence dated 13 April 2026 from UBC’s US legal counsel, supported by affidavit testimony, UBC advised Mandrake that it had, in good faith, validly filed unpatented mining claims over land open to location. UBC also advised for Mandrake to transfer and relinquish its regulatory “operatorship” of certain wells to UBC (given Mandrake’s right to utilise the wells has expired and terminated), so as to formally allow UBC to be recognised as the duly authorised “operator” of those wells under Utah regulatory processes.

Separately, UBC has secured an exclusive access and use licence with American Helium LLC and Ascent Resources plc over 23 existing wells, oil and gas leases and infrastructure to enable brine sampling, test work and potential extraction and has, in good faith, also filed tenure applications for potash and lithium placer claims in relation to wells covered by that exclusive access and use licence. Neometals will update the market in accordance with its continuous disclosure obligations.

Authorised on behalf of Neometals by Christopher Reed, Managing Director.