Quarterly Report for the Quarter Ended 31 March 2024

HIGHLIGHTS

Prefeasibility Study (PFS) announced 7 March 2024 show a technically and financially robust project:

• Confirms a financially attractive standalone project with low cost, high margin gold production of 720,000oz, averaging 87,000oz/year, over a 9-year Life of Mine (LOM).
• Payback period of 15 months from commencement of production.
• IRR of 85% at A$2,800/oz, increasing to 108% at A$3,100/oz.
• Total EBITDAofA$982Mat A$2,800/oz, increasing to $1,191M at $3,100/oz.
• Life of mine average C1 (operating) cost of A$1,434/oz and AISC of A$1,445/oz, including sustaining capital of $8M.
• Pre-tax NPV8 of $547M at A$2,800/oz, increasing to $690M at A$3,100/oz.
• The gold price has jumped to over $3600/oz which will increase the outstanding economics even further.

Upgraded Mineral Resources Estimate 4 March 2024 for the project area of:

• 24.9Mt @ 1.66g/t Au totalling 1.33Moz of gold at 0.5g/t cutoff.
• Increase of 7.7% in contained gold over the 24 November 2023 ASX Release.
• LJN4 contains 15.4Mt at 1.92g/t and the contained gold has risen 11% from 852,000oz to 948,200oz.
• Ongoing extension drilling continues at LJN4 with 12 diamond holes for 4900m, which is expected to result in further resource increases as the northern and southern parts are still open downdip.

• MLRCD826: 29.5m at 2.81 g/t from 270.5m
• MLJRCD828: 16m at 2.44g/t from 272m.
• MLJRCD829: 17m at 2.31g/t from 287m.

• Front end engineering for the processing plant with a view to ordering long lead items by early 2025.
• Resource definition drilling to boost confidence in the early production years.
• Preparation of a Mining Proposal/Mine Closure Plan for DMIRS approval.
• A resource update and enhanced mine plan following recent drilling results.
• Further metallurgical testwork aimed specifically at larger sample sizes and deeper ore.
• Power supply options.
• Camp delivery options.
• Water supply options.

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