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Coffee with Samso — with Dr Tobias Schlegel, Senior Research Scientist, CSIRO We're back at Samso HQ at the University Club, on the UWA campus in Crawley, and this is a conversation that has been a few years in the making. I first came across Tobias Schlegel at an IOCG workshop in Adelaide. He was up the front talking about how these deposits actually form, and I remember thinking, I need to talk to that guy. It has taken two or three years, but here we are. Tobias is a Senior Research Scientist at CSIRO, where he has spent close to seven years, and he has been working on Iron Oxide Copper Gold (IOCG) systems since around 2009 — including his doctoral work on Prominent Hill. If you want someone who has spent well over a decade staring at the rocks behind Australia's most important copper story, he is the man. "Geochemistry Isn't the Silver Bullet" Why this conversation matters Copper is on everyone's lips. Investors want to know where the next tonne is coming from. And in Australia, the answer keeps pointing back to IOCGs. Globally, porphyries are the elephant in the room — Tobias puts them at roughly 60% of world copper supply. But IOCGs are where Australia lives. In South Australia and Queensland, they are the dominant copper producer. And they carry a quiet advantage: where porphyries typically run somewhere around 0.4–0.6% copper, IOCGs tend to scrape around 1%, particularly the hematite-dominated ones. When you are exploring undercover — as we increasingly are in this country — that grade difference matters. The thing that stopped me in my tracks Here is the part of the conversation that I keep coming back to. We spend our entire exploration lives assaying for metals. Copper. Gold. Rare earths. That's what we want to find, so that's what we measure. Tobias's point is that the metals are only half the story. Metals travel in a fluid as cations — copper plus, iron two plus. But a fluid cannot just dump cations into a rock and walk away. Something has to balance the charge. So the anions come along too: chlorine, hydroxide, sulfur, phosphate. And when that fluid hits the rock, it doesn't only deposit metal — it also rebuilds the mineralogy, turning feldspars into hydrous minerals like chlorite and muscovite. You may have thirty metals sloshing around in the system. But they are charge-balanced by a handful of anions. And as Tobias puts it, the signature of the anions is sometimes far clearer than the signature of the metals. Which means the alteration mineralogy can be telling you something your assay sheet simply cannot. From geochemistry to mineralogy This is why, over the last five or six years, Tobias has drifted away from whole-rock geochemistry and towards mineralogy — measuring surface chemistry with automated SEM-based systems and translating it into minerals, sample by sample, down a drill hole. What emerges is not the presence or absence of some magic indicator mineral in a single sample. It is the systematic change in mineral abundance through space. And it tends to behave predictably: broadly speaking, the bigger and more intense the alteration zone, the better the copper intersection at the end of it. He is careful — and I respect him for it — not to sell this as a silver bullet. Geochemistry is still the method of choice, still the thing companies use to publish a resource, and it works especially well in homogeneous host rocks like granites. But when the host rock gets messy, and when the first hole finds smoke rather than fire, this is where the toolbox needs to get deeper. What else we covered Why IOCGs are complex — but not as chaotic as they look. Olympic Dam, Prominent Hill and Oak Dam West sit in completely different host rocks, of different ages, yet the alteration zoning tells a strikingly similar story: a hematite-quartz core, with the copper wrapped around it. Hematite versus magnetite. Why the hematite-dominated systems in South Australia carry the chalcocite, bornite and chalcopyrite everyone wants, while magnetite-dominated systems tend to run lower grade with more pyrite. The breccia debate. Were these bodies blown apart, or are they structural jogs that later became plumbing for mineralising fluids? At Prominent Hill, Tobias argues the breccia was there first. Rare earths as a clue. The unusual lanthanum and cerium signature in South Australian IOCGs, and cerium's role in the magnetite-to-hematite transformation. The carbonatite question. With the Arunta throwing up hybrids, is there a real link between carbonatites and IOCGs? The idea has been around for about 25 years. Work at Carrapateena with the Geological Survey of South Australia shows carbonates replacing chlorite at depth — and the copper grade going up where they do. A hint, Tobias says, not a proven link. AI in exploration. A refreshingly honest answer, and a warning worth writing on the wall: if we feed the system what we already know, we will tend to find what we already know. Exploration is not a data-rich space. Advice for the next generation. Stay curious. The learning doesn't stop at graduation. The takeaway Geochemistry is not just about the element itself. It's about how that element moves through the system, and what it leaves behind on the way. The assay tells you what arrived. The mineralogy tells you how it got there — and, if you read it properly, which way to point the next hole. And if you're stuck? Tobias's parting thought was simple: reach out. CSIRO, the universities, the geological surveys — they are there to help industry solve exactly these problems. Grab a coffee. This one is worth your time.

There are discoveries that change a region's prospectivity forever. The Challenger Gold Mine in the Gawler Craton is one of them. In this episode of Coffee with Samso, I sat down with David Edgecombe, the geologist who was instrumental in the discovery of the Challenger Gold Deposit in outback South Australia. David is not simply a man who happened to drill a good hole. He is a geologist's geologist — one who understood the rocks, trusted the science, and applied a methodology that was, at the time, genuinely groundbreaking in this part of the world. At 1.2 million ounces of gold, Challenger remains an enigma in the Gawler Craton. There is nothing comparable within a radius of several hundred kilometres. And yet, as David explains, the discovery almost didn't happen. A single calcrete sample — one out of more than 3,600 collected — came back at 180 parts per billion gold. Move that sample 200 metres in either direction, and the number drops below 20 ppb. The story of Challenger is as much about luck as it is about the brilliance of the exploration strategy. What makes this conversation particularly compelling is that David takes us back to the very beginning — the regional sampling programs, the calcrete geochemistry methodology that Dominion Mining pioneered in South Australia, the moment that anomalous result came through on the fax machine late one evening, and the drilling program that confirmed one of the more significant gold discoveries in Australian exploration history. This is a conversation about discovery methodology, about what works and what doesn't, about the value of good science over noise, and about what the next generation of explorers should be looking for in one of Australia's most underexplored terrains. In the words of Samso, get your favourite beverage and sit and listen to another great insight from Coffee with Samso. Coffee with Samso - Episode 219 | The Discovery of the Challenger Gold Mine | Adelaide | South Australia   Chapters 00:00 Start 00:10 Introduction 03:12 Introduction of David Edgecombe 04:32 The South Australian Connection 05:31 The South Hilda Project - The Beginning of Interest in Gold Exploration 06:08 - The Introduction of Exploration in the Challenger Area and Calcrete Sampling 06:58 The Realisation of Gold and Calcrete - Bounty Gold Mine 07:40 Adelaide Resources - Andromeda Metals Limited - Realisation of the Potential - Calcrete Sampling. 08:42 The Calcrete Sampling Program 10:29 Tightening of the Regional Sampling Program. - Initiating the Drilling Program. 11:22 The Discovery Hole - The Sixth Hole 12:37 Confirmation Hole - The Seventh Hole 13:02 The Mother Lode - Drilling the Lode Plunge 13:54 The Complication of Corporate Activities 14:33 Did David Think It was Going to As Big As It was? 16:29 Does David think Challenger is still feasible? 17:04 Is Challenger a Geochemical or Geophysical Discovery? 17:39 Geophysical was not Impactful in the Exploration 18:40 No Outcrop - Surface Description 19:27 Modern Explorers should go back to Calcrete Sampling 20:29 New Thoughts on Exploration - XRF 21:25 The Importance of Regolith 22:09 Did the MMI work ? 23:04 The XRF Sampling Potential 23:56 The Mystery of Sampling Points 24:28 Sampling the calcrete and soils with XRF. 25:21 The Naming of Challenger 27:09 Mineral Exploration takes time. 28:06 Was there a sliding doors moment that meant Challenger was not Discovered? 28:36 Timing of the Discover soil sample. 29:09 Was It a Eureka moment? 29:21 Closest Sampling result 29:41 Infill Discussion 30:37 Latest Gold Potential in Gawler 31:19 Could the same exploration style work today in 2026? 32:16 Should we go back to Calcrete sampling ? 34:15 Was there much Iron in the Challenger Area? 35:57 Is Challenger Alone ? 37:17 The Element of Luck 38:22 How close were you to missing the target ? 39:33 Other Sampling Techniques ? 40:37 Interpretation of the Other sampling Techniques ? 42:09 What Would David Tell A Younger Geologist? 44;03 The Wisdom of Age ? 44:34 Any last minute Wisdom to share? 45:20 The Myth of Geologist Destroying the Environment 46:29 David The Geologist. 47:20 Conclusion 47:20 Conclusion

Coffee with Samso – John Anderson and the Thinking Behind the Paris Silver Discovery There are mining discoveries, and then there are stories about why discoveries happen. The difference matters. In this episode of Coffee with Samso, I sat down with John Anderson, the geologist most closely associated with the discovery of the Paris Silver Deposit on South Australia's Eyre Peninsula. John is not just another explorer who drilled a successful hole. He represents a generation of geologists who built discoveries through persistence, pattern recognition, and the willingness to challenge accepted geological thinking. This conversation was less about one silver deposit and more about how discoveries are made when ideas are allowed to mature over decades. The Geologist Behind the Discovery John Anderson was born in South Australia and developed an early fascination with rocks, fossils, and the natural world. He graduated from the University of Adelaide in 1975 with studies in geophysics and geology before starting a career that would take him through some of Australia's most important mining districts. His early years included underground work at Broken Hill, nickel exploration around Kalgoorlie, tin projects, and later senior exploration roles with major mining groups. These experiences shaped a style of thinking John repeatedly referenced in our discussion — understanding how systems form, not simply where anomalies sit on a map. That distinction is critical. Many people talk about targets. Fewer talk about mineral systems. In the words of Samso, get your favourite beverage and sit and listen to another great insight from Coffee with Samso. Coffee with Samso - Episode 217 | The Discovery of the Paris Silver Deposit | Adelaide | South Australia

Coffee with Samso – Echo IQ Limited: AI Diagnostics, Mayo Clinic & the Path to a Cardiovascular Platform A much awaited Coffee with Samso conversation with Dustin Haines from Echo IQ Limited (ASX: EIQ)is all about a clear investment narrative: this is not just an AI story, but a proven data-driven healthcare business building a scalable diagnostic platform anchored in real clinical need. The main business for Echo IQ is in the cardiovascular diagnostics space, using artificial intelligence to analyse echocardiograms and assist physicians in identifying complex conditions such as aortic stenosis and heart failure. For those that are familiar in this space, this is where underdiagnosis remains a documented global issue. The business is built around clinical validation, regulatory pathways, and integration into hospital workflows, rather than purely theoretical AI capability. The discussion in this epoisode of Coffee with Samso does highlight the realisation of the business model, which lays out the following: Clinical-grade AI with regulatory validation (FDA pathway) Access to a large, longitudinal echocardiography dataset (~2.2 million records) A clear commercial pathway into hospitals via existing diagnostic infrastructure The Echo IQ story is no longer a "build it and hope" model. The recent news and what appears to be even more validation when the current FDA approval gets the tick, is that the business is now a measured progression from validation → approval → integration → revenue, which is what the market is valuing its future. This is often where many early-stage AI healthcare companies fall short. In the words of Samso, get your favourite beverage and sit and listen to another great insight from Coffee with Samso.

A Magnetite Iron Ore Project Sitting Where the Market Is Going - Steel Decarbonisation In this episode of Coffee with Samso, we are having a conversation with Iron Bear Resources Limited again since May 2025. The business has progressed and we are now anticipating the release of the Pre Feasibility Study which will be the platform that begins the studies towards a Decision To Mine. As a shareholder of the company, these are exciting times as the path forward is all about creating the building blocks that will shape the valuation of the business. Currently at AUD $50M, this has got to be the most undervalued stock on the ASX. The story is now about creating the understaning of where the steel industry is heading. This is the beginning of a Magnetite Iron Ore story that is all about Steel Decarbonisation. Iron Bear's project sits in the Labrador Trough in Canada, a region already proven by operators such as Rio Tinto, Champion Iron, and BHP. The infrastructure exists, the geology is understood, and the industry has been operating there for decades. What makes Iron Bear different is not just the size of the resource. It is where that resource fits into the future of steelmaking. The Iron Bear story is not about discovery risk. It is now all about execution. This is a project that already sits within an established iron ore province, with infrastructure, scale, and a partner that understands the market better than most. The key shift is the steel industry itself. Decarbonisation is not optional, and the move toward direct reduction steelmaking is creating a demand for high-grade inputs that are not widely available. From a Samso lens, this is a story where the market may not yet be fully connecting the dots. The involvement of a major like Vale changes the development equation, but it also requires investors to look beyond traditional junior mining narratives. In the words of Samso, get your favourite beverage and sit and listen to another great insight from Coffee with Samso. Coffee with Samso - Episode 223 | Iron Bear Resources Limited (ASX: IBR) | The University Club | Crawley | Western Australia   Chapters 00:00 Start 03:09 What is Iron Bear and why does the project matter today? 05:23 How does Iron Bear fit into the global iron ore and steel decarbonisation story? 18:41 Why is the market not fully valuing Iron Bear's story? 23:29 Is the Market not Appreciating the Vale Partnership 28:31  What makes the geology unique compared to other large-scale iron ore systems? 30:54 Are the geological details consistent? 31:46 What are the key risks investors should understand? 34:00 How is Iron Bear addressing social licence and environmental responsibility? 39:32 Are the current geopolitical concerns pushing the thoguht of Nationalism ? 41:38 What are the key milestones and work program ahead? 44:25 What could drive a re-rating in valuation? 45:49 Corporate Activities and Vale Relationsip. 47:23 Conclusion

In this episode of Coffee with Samso, Noel Ong sits down with OD6 Metals Limited Managing Director Brett Hazelden and Chief Technical Officer Dr. Darren Holden to unpack the company's acquisition of the Quinn Fluorspar Project in Nevada, USA. The discussion centres on why OD6 has expanded beyond its rare earths and copper portfolio into fluorite (fluorspar), a critical mineral increasingly tied to global supply chain security. The project aligns with the United States' push to secure domestic sources of key industrial inputs, particularly given its current reliance on imports and dominance of supply from China. From a geological perspective, the Quinn Project presents a replacement-style epithermal system with historical production and multiple high-grade occurrences. The team outlines evidence of scale through an 8 km alteration corridor, supported by hyperspectral data, suggesting potential for a larger mineralised system beneath surface expressions. OD6 Metals And The Economics of Fluorspar The conversation also explores the economics of fluorspar, including product types, pricing benchmarks, and processing pathways. With grades reported significantly higher than comparable ASX-listed peers, OD6 is positioning the project as a potential bulk-tonnage, high-grade operation targeting the US market. Beyond geology, the broader narrative focuses on timing. The intersection of critical minerals policy, US government funding, and infrastructure advantages in Nevada creates a strategic backdrop that could support project development. The discussion highlights how Australian exploration expertise can bridge a gap in the US junior mining sector. As with all early-stage projects, the key variables remain scale, grade, and execution. The next steps for OD6 Metals Fluorspar project will be back to basics, sampling results, drilling, and resource definition. In the words of Samso, get your favourite beverage and sit and listen to another great insight from Coffee with Samso.   Chapters 00:00 Start 01:21 Introduction to Od6 Metals Limited 02:57 Introduction to Fluorspar 04:34 What do we look for with a Fluorspar project? 07:52 Replacement vs Vein Style Deposits 08:41 Is the Business of Mining a Fluorspar Deposit Complex? 10:45 What is the Potential Size for the Quinn Fluorspar Project? 12:04 What is the pricing of the Fluorspar product ? 13:57 Market Size ? 14:36 How Easy is A Fluorspar Discovery ? 17:11 Nationalism of Projects 20:32 Are the Capital Markets Friendly to the Fluorspar Story ? 23:23 Quick Mining 24:17 The Exploration Upside 28:10 Endowement of the Quinn Fluorspar System? 30:59 Other Mega Projects in Nevada with Fluorspar in Nevada 31:51 Fluorspar as a by products 32:23 Fund Raising for the Quinn project 33:23 Whats Next for OD6 Metals ? 34:52 Technical Last Words 36:01 Brad Last Words 36:25 Darren Last Words 37:05 Conclusion

Coffee with Samso - Episode 220 | Kaiser Reef Limited (ASX: KAU) | The University Club | Crawley | Western Australia There are moments in the ASX mining space where a transaction changes everything for a company. This Coffee with Samso conversation with Brad Valiukas from Kaiser Reef Limited is one of those moments. Filmed back at Samso HQ at the University of Western Australia, this discussion centres on what I described as an "overnight producer" story—driven by the acquisition of the Henty Gold Mine. And in many ways, that label fits. The "Overnight Producer" – What Changed? Kaiser Reef's acquisition of the Henty Gold Mine has effectively repositioned the company from an explorer-developer into a cash-flowing gold producer. Brad walks through the structure of the deal, and what stands out is its balance: Combination of cash and scrip consideration Deferred gold payments (linked to production) Retention of Catalyst Metals as a ~20% shareholder Strategic optionality via infrastructure (Maldon plant exposure) From a Samso lens, this wasn't just an acquisition—it was a business transition.

Coffee with Samso - Episode 221 | Tusker Minerals Limited (ASX: TSK) | Capetown - South Africa | Perth - Western Australia There are times when you revisit a story and it just feels different. This Coffee with Samso with Tusker Minerals Limited and CEO Cliff Fitzhenry is one of those moments. The last time we spoke in 2025, the narrative was still forming. This time around, you can see where things are heading. The conversation is not about ideas anymore. It's about execution. It sis about the Tusker Minerals Rutile story. The Rutile Story Has Moved – And It's Now About Scale What stood out early in the discussion is how much ground the company has covered — literally. The Cameroon portfolio has grown into something meaningful: The Central Rutile Project now sits at just under 9,000 km² Additional licences have been added to create a contiguous footprint Active exploration is ongoing across multiple targets This isn't a small exploration play anymore. When you start talking about this kind of landholding in a residual system, you are thinking in terms of province-scale potential. And that's really the angle here — not a single deposit, but the possibility of a new rutile province. I Samso Concluding Comments The Tusker Minerals Rutile is still an early-stage story, but it is progessing and the dust is settling and I feel the narrative is is clearer. You can see what Tusker is trying to build — a rutile-focused exploration play with scale in Cameroon and optional upside in Malawi. The infrastructure work in Cameroon is a big tick for me. That's not something you do if you're thinking short term. Zimba adds another layer. It's early, but it has the right signs. If that turns into something meaningful, it changes the story again. For now, this is about watching the results. If they start showing consistency, the market will catch up.   Chapters 00:00 Start 02:21 Introduction to Tusker Minerals Limited 06:09 Cliff walking us through the latest ASX Release. 10:27 Can Tusker see any continuation of the mineralisation? 11:41 Is Malawi more a Titanium or a Rare Earth story? 12:42 How Do Tusker want potential investors to view its narrative ? 14:39 The Titanium Market 16:17 Is Graphite still a component of the business? 17:55 Is the recent hostilities in the Middle East affecting operations? 19:40 Any competition in Cameroon? 20:56 Where does Cliff see the future value creation coem from? 22:30 What thoughts of dissasters would keep Cliff awake at night? 24:05 Why would investors look at Tusker Resources? 26:02 What are the Capital market saying about the Titanium market? 28:05 A Good reporting standrad. 29:07 Conclusion

Coffee with Samso - Episode 218 | Investigator Silver (ASX: IVR) – Understanding the Leverage to Silver Through the Paris Project  | Adelaide Markets | Adelaide | South Australia In this episode of Coffee with Samso, I had the opportunity to sit down with Lachlan Wallace, Managing Director of Investigator Silver Limited, to discuss what I would call a very timely story in the current commodities cycle. Silver has always been one of those metals that sits quietly in the background—until it doesn't. When it moves, it tends to move quickly, and often, the market is not fully prepared for what that means. What this conversation highlighted for me is not just the rising silver price, but how that price fundamentally changes the viability of projects like the Paris Silver Project in South Australia. In the words of Samso, get your favourite beverage and sit and listen to another great insight from Coffee with Samso.

Coffee with Samso | Episode 215 | Adelaide Markets | Adelaide | South Australia Guest:  Derek Carter – Managing Director (later Chair) of Minotaur during the discovery period Tony Belperio (Exploration Lead) – Exploration Manager Barry Van Der Stelt (Contract Geologist) – first recognition of copper Peter Reid (Senior Geologist) – senior geologist involved in the Prominent Hill work Introduction In this Coffee with Samso episode, I went back to Adelaide to sit down with the people who were there when Prominent Hill was found — the discovery that became one of South Australia's defining IOCG (Iron Oxide Copper-Gold) stories. This is not a corporate recap. It is a first-hand account of what actually happened in the lead-up to discovery, how the target was chosen, what the drillers and geologists saw in the core shed, and why a single drilling decision could have changed everything. The team shared the backstory from the early tenement holders right through to the Uranus prospect becoming Prominent Hill — and the reality is simple: discovery is often a chain of decisions, relationships, and technical judgement made under uncertainty. 1) Prominent Hill Was Not a "New" Area — It Was a Patiently Reworked Story A key point in the conversation was that the Mount Woods ground had history well before Minotaur. The tenements were originally held by Metals X, who worked the region from the late 1980s onward, focusing on magnetic features and drilling at least one early target. Later, Burmine Limited entered the picture, and then Normandy/Poseidon ran a helicopter-based gravity survey across the area. Burmine Limited (ASX code: BUR1) was an Australian-listed gold and minerals exploration and mining company active in the late 1980s and early-to-mid 1990s. It was primarily focused on Western Australian gold projects, notably operating the Copperhead mine near Bullfinch. This matters because it shows the reality of exploration cycles: ground can be worked, tested, and even partly understood — but still not properly unlocked until the right targeting logic arrives. 2) The Technical Pivot: Magnetics Were Useful, But Gravity Was the Key The story turned when the targeting mindset shifted. Earlier programs were chasing magnetic features — and while they were hitting copper-bearing magnetite breccias, there was a ceiling to the grades being intersected. The breakthrough came when the team could simultaneously interpret magnetics and gravity, and start looking at where these anomalies were offset from each other. The concept was simple but powerful: Magnetic anomaly = something magnetic Gravity anomaly = something dense Offset between the two can be the clue to a different part of the IOCG alteration system This is where the conversation became very "real exploration": data doesn't tell you it's mineralised. It tells you where you should be brave enough to test. 3) 3D Modelling Was a "Game Changer" — And It Was New Back Then One of the most important takeaways was how early this team was in adopting 3D inversion modelling. Today we treat 3D models as routine. Back then, it was cutting-edge. The team explained how the modelling allowed them to rank targets properly, separate those already drilled from those not tested, and better understand the geometry of gravity and magnetic responses. In Samso terms: this was one of those moments where technology didn't replace geology — it amplified it. 4) "Uranus 1" — The Discovery Hole That Almost Looked Like Nothing The drill hole that changed everything was Uranus 1. Barry Van Der Stelt described the core and is the kind of detail that explorers remember for life: The core was so hematite-rich it was hard to even see textures. The team was washing core just to interpret it. The operation was low-budget — even the core cutting was done on a basic brick saw setup. Then came the moment: blue specks appearing after the core had sat for a couple of days. That blue tarnish was the first real visual signal of copper — and it triggered the call that brought the team running. This was also a reminder that Prominent Hill echoed the Olympic Dam story: sometimes the copper is not obvious until it's tested, altered, or routinely assayed. 5) The Numbers Were Bigger Than Anyone Expected The team admitted they initially thought they might have something like "30 metres of ~1% copper." Then assays came back with results that were materially stronger, including: a high-grade copper interval around 4% copper over ~30m, and broader zones around ~1% copper that they simply could not visually recognise in hematite breccia. Later, deeper drilling confirmed additional IOCG-style signatures, including: copper-gold mineralisation and uranium increasing at depth, reinforcing the Olympic Dam-style system interpretation. 6) The Sliding Doors Moment: Drilling the Flank, Not the Core This is one of the most valuable exploration lessons in the episode. After the discovery hole, infill gravity shifted the interpreted peak of the anomaly by several hundred metres. The team realised they had not drilled the very centre. The irony is that drilling into the "peak gravity" later hit barren, intensely altered hematite-silica core, which is now recognised as central IOCG alteration. The team openly discussed the risk: in 2001, if they had drilled the core first and hit barren alteration, they might have walked away. That is a brutal truth about exploration: a discovery can be decided by where you hit a system first. 7) The Business Reality: Minotaur Had Only 19% — But It Was Enough One of the most interesting parts of the conversation was the structure. Minotaur's maximum share of the project was 19%, while the major partner (BHP/Billiton through the merger timeline) held the majority position. Minotaur's "cost" for that 19% wasn't cash — it was local geological knowledge and management. The team framed it with a simple idea that still applies today: Better to own a piece of something real than 100% of something you can't fund. This is a proper junior-to-major alliance lesson, and it explains how big discoveries are sometimes possible in down cycles. 8) Capital Cycles Still Matter The group reminded us that this happened during a period when market attention was elsewhere — the dotcom era, when exploration was not "in fashion." And yet, the discovery still drove a dramatic market response: strong share price movement, heavily oversubscribed shareholder participation, major legal/accounting work managing scale and compliance. The point wasn't hype. It was showing how quickly markets can change when geology delivers. What This Episode Really Shows This Coffee with Samso episode is a reminder that discovery requires: Local knowledge (not just imported models) Funding and deal-making (alliances matter) Technical courage (you still have to drill the target) Open-minded thinking (don't get trapped by one model) A tolerance for failure (because near-misses are common) Prominent Hill wasn't found because everything was obvious. It was found because the team kept moving forward, making decisions with imperfect data, and backing their judgement. Samso Concluding Comments For me, episodes like this are part of documenting the real value chain of discovery. A lot of people talk about the "next Olympic Dam" like it's a marketing phrase. This conversation shows what that actually looks like in practice: long lead times, multiple parties, tight budgets, imperfect data, and a team that had the discipline to keep testing. If you want to understand how IOCG discoveries really happen — this is one to watch.

Coffee with Samso Episode 204 is all about Lupins and Lupin Protein Isolate. Coupled with the favourable growing climate in Western Australia, Wide Open Agriculture Limited (ASX:WOA) could become a major player in a billion-dollar market. The Wide Open Agriculture came across my screen about two weeks ago, and it caught my attention because I was doing content on superfoods and came across the benefits of lupins in 2019. While I was doing research over time, the share price of the company started to move, and in fact, on the day I was talking to Yazi Zhan, the Non Executive Chair of WOA, about making an appearance on Coffee with Samso, she was in the middle of dealing with her company's share price going for a run to a high of AUD $0.029, from the previous trade of AUD $0.016. In today's episode of Coffee with Samso, we are talking to Yazi Zhan, who knows this business intimately and will give us a good insight into firstly the benefits of Lupin and Lupin Protein Isolate, followed by what I think could make WOA a global player in the highly sought-after plant-based nutrition business. The Business of Wide Open Agriculture Limited. Wide Open Agriculture Limited (ASX: WOA) is planning to be in the global plant-based protein sector, thanks to its proprietary technology that unlocks the full potential of lupins—a high-protein, regenerative legume native to Australia. As the exclusive holder of intellectual property for extracting lupin protein isolate, the company is positioning itself at the forefront of the clean-label, sustainable food movement. At the heart of this innovation is BUTINE PROTEIN, Wide Open Agriculture's signature lupin protein isolate. Clean, allergen-friendly, and remarkably versatile, BUTINE PROTEIN offers a powerful alternative to soy and pea proteins, catering to the fast-growing demand for ethical and environmentally responsible nutrition. With this cutting-edge IP and a focus on regenerative farming, Wide Open Agriculture is not just producing protein—it's pioneering a smarter, greener way to feed the world. Chapters: 00:00 Start 00:09 Introduction 03:30 Who is Yaxi Zhan? 05:18 History of WOA? 08:28 Discussion about Lupin 15:06 Lupin Isolate 17:20 Importance of the China Market Approval 20:47 How does WOA protect its Core Business? 25:36 Limitations of Growing Lupin Gives Australia a Natural Advantage. 26:42 Types of Lupin 28:30 Competitors? 30:52 Market size for Lupin 36:50 What are the business triggers for WOA? 38:50 Funding strategy 40:05 Takeaway 40:43 News flow 41:37 Conclusion About Yaxi Zhan Yaxi is Mongolian Chinese and has called Perth home since 2004. In under 12 years, she transformed her career from a finance professional into a mining executive. With a strong background in business development, mergers and acquisitions, and cross-border transactions, Yaxi founded Accelerate Resources—an ASX-listed resource company—and served as its Managing Director from 2017 to 2024. Most recently, she has taken on an exciting new challenge as Chairman of Wide Open Agriculture, where she is leading the company's growth strategy. About Wide Open Agriculture Limited At Wide Open Agriculture, our mission is to create a range of great-tasting and high-performing plant protein ingredients. We are focused on developing high-performance lupin proteins that improve outcomes for: Customers Food Manufacturers Farmers We see a global movement for greater inclusion of plant proteins in daily diets. We also see compromises in existing offerings and believe that there are better alternatives. By developing better end markets, we see plant proteins as a positive force for change in the agriculture industry, where lupins can play a key part in reducing emissions and improving agricultural systems.

Coffee with Samso Episode 203 may well be one of the best ASX small-cap resource business in 2025, that is largely unknown to the general investing community. The Cyclone Metals Limited (ASX:CLE) is about the pedigree of the Iron Bear magnetite project. In Australia, the general ASX punter thinks of iron ore as haematite are greater than 62% Fe, but there is a new sheriff in town and he is called Magnetite. Where can you find a mineral resource business that is owned by a small cap junior with a market capitalisation of less than AUD $50M that has funding all the way through to mining and processing the high-grade iron pellets. Just remember that Cyclone Metals was a AUD $10M market cap company when it started the journey. The transitioning from haematite to magnetite in the iron ore industry is happening and it is largely driven by the depleting of high-grade haematite iron ore. - Paul Berend In this episode of Coffee with Samso we are talking to Paul Berend, Executive Director and CEO of Cyclone Metals Limited (ASX:CLE). Cyclone is a fascinating story of a junior aspiring to be a producer with a major, VALE, partnering with funding. A space in which most juniors would be struggling to find funding, CLE has a big brother taking care of all the bills. The Business of Cyclone Metals Limited. The steel producing industry is transitioning to low emission and the process of Direct Reduction (DR) steel production is the solution to a global reduction in emission for the typically high carbon emission business. . Direct Reduction steel production requires iron pellets that are very low in impurities and this is directly controlled by the quality of the source material. As Paul Berend explains, ....not all magnetite deposits are suitable for Direct Reduction Pellets which is why the Iron Bear deposit is perfectly aligned to allow this process to be achieved. Recent work by Cyclone Metals Limited has shown that the use of Direct Reduction on iron ore from Iron Bear can create iron pellets above 71% Fe content. According to Paul Berend, this is a very unique feature of the ore body. A feature that is not seen in many other iron ore resources and that includes those at Champion Iron. One statement that Paul proudly points out in the Coffee with Samso, and that is, The quality and the size of the Iron Bear Deposit moved the needled for VALE to take a position with Cyclone Metals. This is a great conversation with Paul Berend as he explains the story of Cyclone Metals clearly and in great details. Chapters: 00:00 Start. 00:08 Introduction. 04:10 Who is Paul Berend? 05:24 The Magnetite Story - Why Have We Not Embraced it Yet? 08:44 Transition of Value from Haematite to Magnetite. 09:41 Carbon Footprint of Magnetite. 10:07 Rise of Magnetite Projects? 10:33 Depletion of Brazilian High-Grade Iron Ores -The Reason why VALE is in CLE. 10:51 Importance of Direct Reduction (DR) Steel Production. 11:57 Only Way to Make Direct Reduction Steel - Premium of DR Pellets. 13:05 DR Pellet Market Comparison. 13:48 How Do You Make Direct Reduction Pellets. 15:14 Reason Why DR Pellet Production is Rare. 15:47 Comparison of Low Impurity Iron Deposits. 16:30 DR Player requires an ABILLITY To Reduce Impurities. 18:01 How much of the Current Resource will transition to Reserve Status. 19:08 Iron bear is a Low Stripping Ration deposit. 19:30 Metallurgy Will Increase the Economics of Iron Bear. 21:30 What is the main Business of Cyclone Metals ? Is it DR Production? 22:26 Is Iron Bear DR Capabilities why Vale is interested? 23:18 Iron Bear can supply high-grade iron ore all the way to DR levels. 25:07 How Did the Agreement with Vale Evolve ? 26:55 How important was the 10M ? 28:30 Earning a Mandate to Operate Socially. 29:25 Importance of the First Nations Conversations. 32:12 How Important is the relationship with First Nation Groups. 33:42 The Reasons why Vale could be the Reason for Success for Iron Bear. 36:24 Potentially One Technical Challenge for Iron Bear - Dry Tailings. 37:34 The Importance of Earning a Mandate To Operate 39:07 Twitter Shareholder Questions 39:27 Will the Trump Tariffs affect the Iron bear Business? 40:48 The Vison of Iron Bear - It is a Bigger project than Champion Iron. 41:58 Reducing the Carbon Footprint of a Manufacturing Hub in Northern America. 43:25 How much is the resource expected to be built up to? 43:58 Iron Bear is a Premium Magnetite project. 45:15 What cost will the hydroelectric power cost us per kilowatt? 46:51 Green Energy Narration - Magnetite Naturally Reduces Carbon Emission. 49:48 Discussion on iron ore prices. 54:23 Why is CLE still at 50M? 55:21 Why is the a feeling of disbelief in the Cyclone story? 58:02 The misunderstanding of the Iron Ore industry. 01:00:54 Takeaway. 01:01:18 Conclusion.   About Paul Berend Paul Berend brings over 25 years of leadership experience in the iron ore and steel industries, gained across blue-chip corporations and junior mining ventures. His corporate background includes senior roles such as GM Corporate Strategy at ArcelorMittal, GM Business Development at Rio Tinto Iron Ore and Director Australasia at Hatch. Paul is a passionate mining entrepreneur and was a founder and historic CEO of Trans-Tasman Resources Ltd (a titano-magnetite project in New Zealand ASX: MKR) and has played a key role in a number of private early-stage exploration ventures. In addition to his entrepreneurial work, Paul has a successful track record in turning around distressed producing mines and steel mills in difficult jurisdiction including Australia, PNG, Europe, GCC and Africa . He is a trusted advisor for Tier one natural resource companies, supporting operational, organisational and growth strategies. In this capacity, Paul's previous employers include McKinsey& Company and Partners in Performance. Paul has an MBA from HEC (Paris, France), a MSc and DEA (~PhD) in chemical process design and chemistry from ENSIC (Nancy, France), a bachelor's in applied mathematics and algebra from Harvard University (Cambridge, USA) and is a Graduate of the Australian Institute of Company Directors. He speaks native and English and French as well as professional German. About Cyclone Metals Limited Cyclone Metals owns and operates the Iron Bear magnetite iron ore project, formerly known as the Block 103 Project. The Iron Bear Project consists of ten licenses totalling 7,275 ha on 291 graticular Mineral Claims under the applicable Labrador and Newfoundland mining regulation, located near the Provincial border of Newfoundland and Labrador (NL) and Quebec (QC), approximately 30 km northwest of the town of Schefferville, QC and 1,200 km by air northeast of Montréal, QC. The Iron Bear properties are located within 25 km of an open access heavy haul railway which is directly connected to the Sept Isles and Pointe Noire iron ore export ports. In addition, the Iron Bear has potential access to cheap renewable energy from the Menihek hydro-plant located 75km away. These two factors substantially improve the prospects for eventual economic extraction of the Iron Bear mineral resource. Notably, large scale iron ore export operations currently operate in the Labrador Trough; including IOC (Rio Tinto), Champion Iron and Tata Steel; all sharing the same rail and port infrastructure. Highlights: World Class Iron Ore Project: Mineral resource of 16.6 billion tonnes containing 29.3% total Fe and 18.2% magnetic Fe, cut-off grade 12.5% magnetic Fe. Low OPEX: Estimated OPEX of USD 35.6/t3 FOB Pointe Noire for blast furnace concentrate due to access to low-cost hydropower Strategic Tier 1 Asset: Iron ore asset with flexible development scenarios and the potential to ramp up production to over 100 Mta Mining Friendly Jurisdiction and Proximity to Infrastructure: Iron Bear located in Canada, less than 25km from an open access heavy haul railway with proximity to low cost to hydro-power High Quality Product: Production of high quality magnetite concentrate grading 71,3% Fe and 1.1% SiO2 in industrial pilot plant Fast Track Project Development: Underpinned by the supply of bulk samples of DR and BF concentrates to mill clients by Q2 2024

Coffee with Samso Episode 202 brings retail investors into an ASX company that may have the potential to become a multi-bagger investment. The LCL Resource Limited (ASX:LCL) story is one that will resonate with many retail small cap investors. A low market capitalisation of AUD $10M and an inferred gold resource of 831,000 ounces in a booming gold market where drilling results are being rewarded. LCL is not a stranger to the Samso platform, with "Los Cerros Limited (ASX: LCL) - A High-Grade Gold Porphyry Story in Colombia" published on 29th October 2021 and a Samso Insight written and published on 15th February 2022 entitled "Good Geology Never Disappoints - Los Cerros Limited (ASX: LCL) Colombian Style." The story changed to a Papua New Guinea focus recently, and on 25th November 2022, LCl released "Company acquires multiple PNG copper, nickel, gold targets" which was the entry into Papua New Guinea. Management Change Management and Board changes (Board Changes) within the company will bring much needed youth and energy into the LCL Resources, which, in my opinion, is why I am having a conversation on Coffee with Samso with Christopher Van Wijk, the Executive Chair of the company. LCL was in a transaction to sell the Columbian assets but as I have realised, that resolution was voted down by shareholders. Whether this decision in hindsight turns out to be the correct decision will be known soon. Could it be sold to a higher bidder as the gold sentiment rise will be something to ponder about at that time. What is more interesting for me is the current direction for the company with new management. The Project The Kusi project is a good start for the company with the inferred resource of 831,000 ounces of gold. The future of the project sounds like there are a lot of positives. Papua New Guinea is a haven for projects that are company makers. There are multi-million ounces of gold in the region that will be nectar to honey for LCL Resources. Coffee with Samso This is one of those conversations where I learnt a lot about my guest and the company story. Christopher Van Wijk gave me the impression that he has come into LCl with a mission to take this AUD $10M market cap to greater heights. His energy and the, as a matter of fact, tone of discussion give me confidence they have the right jockey. The next question is what the horse is like, and the rest of the team is able to do with the current project. As a matter of funding, I think that the fact that there are high-net-worth individuals backing this vehicle is a very good addition to the story. Chapters: 00:00 Start 00:08 Introduction 03:26 Who is Chris van Wijk? 04:18 Updates on the Columbian Project 06:18 The KUSI Project 07:39 Any jurisdiction issues? 09:25 Confidence in gold project 11:50 What can investors look forward to? 13:40 Discussion on funding 17:05 Takeaway 17:35 What can investors look forward to in terms of exploration activities? 20:11 Conclusion   About Christopher Van Wijk Chris is a seasoned geologist with expertise in project evaluation and generation. He possesses extensive experience in base metal and gold exploration across Africa, Europe, the Americas, and Australia. Chris has also managed joint ventures and evaluated projects for leading mining companies such as BHP, IAMGOLD, First Quantum Minerals, and Fortescue Metals Group. He holds a Master of Science in Ore Deposit Geology from the University of Western Australia and is a member of the AUSIMM. About LCL Resources Limited LCL, incorporated in Australia, is an ASX listed exploration and mining company. The Company holds ~3890Km2 of exploration titles in 5 regions of Papua New Guinea, prospective for copper, gold and nickel. The Company also holds a dominant position within the Quinchia region of the Mid-Cauca Gold Belt of Colombia. The Company is actively exploring in PNG while the 100% owned, 10,500 ha Quinchia Gold Project (2.6Moz @ 1g/t) in Colombia progresses through early stage feasibility related studies..

Coffee with Samso Episode 201 is all about looking at a mineral explorer to ride the current market excitement for mineral resource discoveries. There is a visible and coherent bullish shift with investors within the mineral exploration sector of the Australian Stock Exchange (ASX). The E79 Gold Mines Limited (AIM:E79) story is being reviewed as it is primed for potential discovery, and now cashed up. I have known about E79 and was reminded when they were the beneficiary of a nearology play with Kalgoorlie Gold Mining Limited announcing results from their Lighthorse project. E79 was the beneficiary as they share tenement boundaries (Figure 1). One of the most important aspects of trying to understand this industry is to know that as retail investors, we are never going to know the real ins and outs of the company. On most occasions, we are the last and the "insiders," or what I term the "Purple Circle", are always looking at the retail market as the driver of rising pricing and the bag to hold when they leave. Hence, to negate some of the heartache, I prescribe the need to know the two critical points: one is management and the viability of the projects being promoted, and the other is the potential economic discovery within the project. Let me try and break this down without writing a book about it. Management I cannot stress enough the need to know the style and content of management in place. For the majority of retail investors, who are not from the industry, it is hard to know who is who. What many people rely on is being told who they are, and not knowing the main players with some degree of intimacy. The problem with second-hand knowledge is that you don't know how far that knowledge came from by the time it got to your ears. I have compiled a small list of things to ask or to DYOR for readers to chew on: Ability to raise money: Are they connected and have the records to show this? This is a very important ability. Are they the type of management that wants to make an economic discovery? I stress the term economic, which indicates a real effort in terms of spending money and having the right team. Are management looking for an economic discovery, or are they looking for a discovery to create share price stimulation? This is not a bad thing, but knowing this will help you from rushing in and taking a wait-and-see approach. The person who is known for the "Midas Touch," now this is a no brainer and in some ways, this kind of management is the easiest. Put your money in and then go do your day job. The only drawback is that these guys can take a long time, and I mean multiple years as they normally work on their schedule and not yours :-) Similarly, they may have a stronger holding power than you and hence, if you are forced to hold longer than you can, you may miss out. I am sure there are many other characteristics to be aware of, but those are normally the ones I look for before jumping into any stocks. The Project It is sufficient to say that the promoters of these companies have the same motivation as all investors, and that is making money. Retail investors like me are all about making sure we are not taken in by the promotion, that we forget there is a need to sell, and making sure we have the holding power to stay in the game. In my opinion, when we look at the projects being promoted, we need to simply think of two parts. If the main story is about making an economic discovery, is the project, technically, able to give it a good go, or do I think that the chances are low and the risk great? This normally requires a higher level of research and at most times, it's difficult to have an absolute answer. Fortunately for me, with 3 decades of experience, it's a lot easier to break all those points down. For those not in the industry, I have to admit, it's not easy. If the project appears to be lacking in substance, then you would have to assume that management is looking for something else and this is a holding pattern. It's kind of what we call, "Let's Join The Club First.". Coffee with Samso Today, it's all about E79 Gold Mines Limited and Ned Summerhayes. As I have mentioned, I know the management relatively well, and I do believe that they are looking for an economic discovery, and I am pretty sure they are also looking for a better project to come along. They will take their time while they slowly work on their projects. Chapters: 00:00 Start 03:29 Who is Ned Summerhayes? 04:20 What it's like working with the board members? 05:50 The Neurology Factor factor? 08:19 Has the market changed to being a Bull? 10:46 E79 projects set up by Ramelius consolidation. 12:37 What is the strategy for E79 at the Lighthorse region? 17:27 The Mountain Home Project 26:02 How should corporate manage shareholder expectations? 29:01 Is the market still tight for funding? 34:10 Last comments 34:47 Conclusion About Ned Summerhayes Edward (Ned) Summerhayes has completed a Master's of Economic Geology from the University of Tasmania. Ned has more than 15 years' experience in Mineral Exploration, primarily in Western Australia. Ned's most recent role was with Black Cat Syndicate as Exploration Manager, having both corporate responsibilities and directing technical programmes. Ned was responsible for all site personnel, stakeholder management, reporting and compliance, as well as reviewing and recommending strategic acquisitions. About E79 Gold Mines Limited E79 Gold Mines Limited is an Australian gold and copper exploration company which has approximately 1,838km2 of highly prospective ground in two proven gold producing greenstone belts in the Western Australian Goldfields and a project within the McArthur Basin of the Northern Territory. Mission To discover gold and develop sustainable operations whilst acting responsibly towards the environment and all stakeholders Statement of Values E79's vision is to create significant value for Shareholders through good science and applied exploration with a strong culture of operating ethically and responsibly. To respect the cultures, customs, and values of all Stakeholders, including employees, contractors, suppliers, Traditional Owners, pastoralists, and the community. At all times conduct ourselves with integrity, honesty, and transparency. Encourage an enjoyable and safe workplace based on technical excellence, teamwork, collaboration, and diversity. Seek to protect the environment and enrich the communities in which we work.

Coffee with Samso Episode 200 is a David and Goliath story that could be a second chance for those investors who felt they missed out on past opportunities. The Greatland Gold Plc (AIM: GGP) is the classic case of the need to understand the content of management and the technical aspects of a mineral resource project. Like all investment partitioners, their main challenge is hearing fellow participants overlook the essential elements of comprehending and applying the principles of First Principal's business. I have been in the industry since 1992, and over the past three decades, I've learnt that understanding the sector requires insights from a geologist's perspective, an investor's viewpoint, and those who influence the markets, such as stakeholders (brokers, major investors, and vendors of the company and projects). It's crucial to gather wisdom from experienced individuals and recognise that no two operations, projects, mineral orebodies, or extraction methods are identical. This is evident in the many success stories that have emerged from so-called "unloved" and "impossible" projects that seemed doomed from the start. The list of companies that have been created from these unloved "investment concepts" or the "too Small for Majors" are clearly exemplified recently by the following list below; Northern Star Resources Limited (ASX: NST), Spartan Resources Limited (ASX: SPR), Genesis Minerals Limited (ASX: GMD), Westgold Resources Limited (ASX: WGX), Gold Road Resources Limited (ASX: GOR), There are numerous others to include on that list, and the surprising fact is that ASX retail investors are slow to invest in these stocks. The issue for these investors is that by the time these stocks gain attention, the capital appreciation for their type of portfolio has decreased, leaving opportunities to institutions and more "sophisticated" investors seeking consistent income generation. Why do I still see Greatland Gold Plc as a viable Proposition for the Retail Investor? Firstly, they are largely unknown to the sector. Currently, they have an AUD $2B market capitalisation hidden on the London Stock Exchange AIM Market platform. If you click on that link, you will see the unimpressive on the London Stock Exchange. What is an AUD billion dollar company hidden in this nature? The answer to that question is one of the first points I make in the Coffee with Samso with Shaun Day, the Managing Director of Greatland Gold. The company is an overnight success that has taken a decade of hard work and sweaty rattling of the tin to keep the doors from shutting. This episode of Coffee with Samso is a perfect companion to our first story on Greatland Gold we published on July 2, 2022, entitled "The Havieron Gold - Copper Discovery in Patterson Range, Western Australia". That was now almost 3 years ago, and today, they are a fully fledged miner with the words "Undervalued- Underrated" written all over the story. For those who felt that they have not caught a good investment in a raging bull gold market that seems to have no short-term end, especially in Australian dollars. This will have to be a must-see Coffee with Samso before you begin your process of DYOR. I cannot emphasise the need to spend good quality time to DYOR for Greatland Gold, which is still not listed on the ASX. That will come in June, so better get your knee pads from Bunnings and start resorting to begging, as I am 100 percent sure there will be limited shares available to the common man when their IPO comes around. Chapters: 01:28 Start 02:34 Who is Shaun Day? 03:45 How did Greatland buy back the assets? 05:39 Composition of the acquisition price paid by Greatland Gold. 07:34 Significance of Havieron being next to Telfer 09:04 Where is the uplift of Telfer and Havieron for Greatland Gold. 10:31 Reason for the cost of Telfer 13:14 An explanation to the concept of Vertical Ounce? 15:20 Breaking down the potential value of the Telfer Operations. 20:05 The size of the processing capabilities of the Telfer/Havieron Operations. 25:33 Thoughts on the future of mining costs 28:33 Hemi vs Havieron 31:17 What is the status of the ASX Listing ? 39:11 Tungsten deposit 46:57 Takeaway from the Greatland story 50:27 Closing remarks 52:15 Conclusion About Shaun Day Shaun is Managing Director of Greatland Gold plc. Shaun has over 25 years of experience in executive and commercial roles across mining, infrastructure and investment banking. Prior to joining the Company, Shaun was Chief Financial Officer of Northern Star Resources Limited, an ASX100 company and a global-scale Australian gold producer. Prior to this, Shaun was Chief Financial Officer of SGX-listed Sakari Resources Plc, which operated multiple mines ahead of its takeover. Shaun is a Non-executive Chairman of Blue Ocean Monitoring Limited and a member of the Senate of the University of Western Australia. About Greatland Gold Greatland's operating asset is its 100%-owned Telfer gold-copper mine, one of Australia's largest gold-copper mining complexes with significant established processing and infrastructure. Greatland's development asset is its 100% owned Havieron development project, a high-grade gold-copper deposit located 45km west of Telfer that will utilise the Telfer infrastructure to process Havieron ore. In addition to Telfer and Havieron, Greatland holds interests in a significant exploration portfolio, the focus of which is the relatively underexplored surrounding Paterson Province. Ownership of the Telfer infrastructure greatly enhances the potential value of exploration success in Greatland's Paterson exploration portfolio. Strategy of Greatland Gold Greatland aspires to become a profitable multi-mine resources company by focusing on the responsible and sustainable discovery, development, extraction, processing and sale of precious and base metals. Greatland's strategy to achieve this growth is built on four horizons: Profitable operation of the Telfer gold-copper mine and pursuit of Telfer mine life extension; Continued advancement of the world-class Havieron gold-copper project through to production; Exploration to identify new precious and base metals deposits, with a focus on the Paterson Province surrounding Telfer; and Disciplined assessment and, where compelling, pursuit of new investment and acquisition opportunities in the resources sector. Greatland has assembled a highly experienced team that is committed to delivering our growth strategy. The senior team is supported by a Board with extensive expertise and experience in the global resources sector. Greatland's leadership team has a track record of success and value creation for shareholders.