Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

A good report imo. Assays of 7 DD holes (been visually described) from BBDD0018, 19, 21, 22, 23, 24, and 25 are due anytime now.

Matthew Driscoll commented:
“The latest drilling at Bluebird has continued to grow the discovery, which remains completely open. Following the keenly awaited assay results we plan to recommence drilling aimed at further expanding the resource potential of this very exciting copper-gold discovery."
“Using geophysical targeting, the Company has identified potential for multiple other copper-gold deposits within 2.5km of Bluebird and given mineralisation at Tennant Creek tends to be clustered, we have high expectations that we will be making further discoveries within the Barkly Project in 2023.”

Also good cash report too. Costs in explorations ($1.26m) vs admin/staff ($207k) was almost 6:1. Still has $2m at bank from the beginning of the year 2023 and should be able to last another two quarters as it says at the end of the report:

1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time
being and, if not, why not?
Answer:
No, during the quarter the Company carried out significant drilling programmes with respect to costs. Lower
cost geological interpretation will occur over the next 2 quarters at a forecast cost within available funds
2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations
and, if so, what are those steps and how likely does it believe that they will be successful?
Answer:
The company has a successful past record of completing capital raisings that have been either underwritten
or been completed by a lead manager lead by its strong relationship with Westar Capital.
3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on
what basis?
Answer:
Yes, exploration expenditure can be adjusted where necessary in line with cashflows and expected timing of
any further capital raising.