Half Year Ended 31 January 2019 Financial Report

Highlights – Group Operations

• Results from new surface geochemical sampling identified several high priority copper-cobalt prospects in the vicinity of the existing Mutooroo project, which supports a change in approach to increase throughput and extend the planned mine life by potentially accessing additional mineralisation in the Mutooroo Copper-Cobalt District.

• The preliminary Kalkaroo pre-feasibility study (PFS) is to be updated with the results of a comprehensive metallurgical program to take advantage of the opportunities identified. The Kalkaroo Native Title Mining Agreement has also been finalised to allow for the granting of a Mining Lease (ML).

• North Portia’s permitting to allow for overburden removal and mining of the saprolite gold cap by its new owner has been delayed from the original plan. The divestment terms for North Portia have been revised subsequent to the end of the financial half-year to remove the Company’s permitting responsibility and disconnect payments from permitting (refer Note 4 for further details).

• Drilling in the Grants Basin has confirmed the discovery of a large iron ore deposit.

View the Financial Report