Further to the Company’s announcement on 14 June 2023, the Company is pleased to provide the following update with respect to La Plata’s secured note holding in the Company. Per the terms of the previous extension, the Company was granted the option, subject to shareholder approval, to satisfy the June 2023 and September 2023 quarterly interest payments to La Plata by the issue of fully paid ordinary shares (‘Shares’) at an issue price equal to the Company's closing Share price on the trading day immediately prior to issuance, based on a value ratio of 1.5 times the interest due. Since the signing of this agreement, the Company has been unable to obtain shareholder approval in the timeframe contemplated by the agreement, and therefore has worked with La Plata to address this breach. Under the terms of a new agreement, the Company will pay, subject to shareholder approval, the June 2023 interest payment in Shares, based on a value of 1.7 times the interest payable, and the September 2023 interest payment in Shares, based on a value of 2.2 times the interest payable, at a deemed issue price equal to the Company’s closing Share price on the trading day immediately prior to issuance and subject to a floor price of $0.002. The satisfaction of the June and September interest payments in Shares remain subject to shareholder approval, provided that shareholder approval is obtained on or around 30 September 2023. Furthermore, the Company will seek shareholder approval to make the December 2023, March 2024 and June 2024 interest payments in Shares, based on a value of 1.5 times the interest payable, at a deemed issue price equal to the Company’s closing Share price on the trading day immediately prior to issuance, subject to a floor price of $0.002. La Plata has also agreed to waive the October 2023 maturity date of US$482,500 of notes and extend the maturity to June 2024. As a result, the majority La Plata’s debt is now due June 2024. Finally, the Company will seek prior shareholder approval to make a monthly principal repayment of US$80k in Shares, based on a value of Shares equal to 1.5 times the principal amount repaid at a deemed issue price equal to the Company’s closing Share price on the trading day immediately prior to issuance and subject to a floor price of A$0.002. If shareholder approval is not forthcoming, the Company will be required to make the monthly principal repayment in cash. The result of this is that up to US$560k of principal will be repaid in Shares (or cash) prior to maturity. In exchange for these concessions, the Company will make a one-time cash payment of US$160,000 to La Plata on or around 30 September 2023.