Announcement PDF ASX Announcement 30 January 2025 ASX: OD6 Quarterly Activities and Cashflow Report OD6 Metals Limited (OD6 or the Company) is pleased to present its Quarterly Activities and Cashflow Report for the period ending 31 December 2024 Highlights (including subsequent events): Gulf Creek Copper Project, NSW • Acquisition of Historic High-Grade Copper–Zinc VMS style project • Up to 6.5% Cu found in samples containing both Massive Sulphide and Massive Sulphide/Magnetite • New magnetic geophysical modelling identified multiple, high priority, walk up targets and highlights the potential for extensional and repeat high-grade VMS structures • Conductivity based geophysics survey plus a surface geochemistry survey commenced • Phase 1 Drilling to Commence in Q1 2025 Splinter Rock, WA • Heap Leach Results a potential game changer for Splinter Rock – Inside Centre Column Leach achieves at 79% Magnet Rare Earth Elements (MagREE) Recoveries in comparison to the diagnostic stirred tank leach of 56% – The Heap Leach has the potential to remove several expensive processing steps, which would reduce capital and operating costs significantly • Phase 4 ANSTO Metallurgical Tests at the Splinter Rock Project continued during the quarter Corporate • Annual General Meeting of Shareholders Held • Research and Development Tax Offset Funds Received • Cash balance at the end of the December quarter remains strong at A$1.75M Brett Hazelden, Managing Director, commented: “OD6 finished 2024 with the acquisition of the Gulf Creek Copper Mine in NSW and continued encouraging metallurgical results at Splinter Rock. Initial works on Gulf Creek has identified high grade copper mineralisation. There are multiple brownfield and greenfield opportunities, both open along strike and at depth, plus has the potential to have numerous repeat structures. With on ground works already commenced in 2025 and drilling scheduled to commence this quarter, we look forward to providing regular updates on our progress. To retain optionality, OD6 has optimised its rare earth land holding in Western Australia, by retaining only identified clay basin areas at Splinter Rock. Impurity removal test work at ANSTO continues to have positive outcomes with multiple potential pathways being review and optimised, with results during the first half of 2025. With these two essential commodities and projects the Company is well positioned for 2025“ 1 Exploration and Development (including subsequent events) Acquisition of On 20 October 2024 (refer ASX release and presentation), the Company announced the Historic Gulf proposed acquisition of the Historic Gulf Creek Copper Project—a high grade volcanogenic Creek Copper massive sulphide (VMS) project located near the town of Barraba in New South Wales (the Mine Gulf Creek Project). Highlights of the acquisition include • High-Grade Copper–Zinc VMS style deposit – historic underground mining averaged 2 to 6.5% Cu1 • Mined over 100 years ago (1896-1912) - with +100m vertical and +300m strike open in multiple directions • Mineralisation is associated with magnetite with geophysics showing repeat structures to the north and west of existing Gulf Creek workings • Significant greenfields and brownfields exploration potential with over >3km of untested strike in the immediate mine-stratigraphy, and over >10km across the tenement • Favourable deal metrics and structure based on $200k cash, and 6,000,000 shares, plus a deferred issue of $200k shares (subject to shareholder approval) or cash on commencement of Phase 2 drill program • Fully permitted Phase 1 drill program around the historical workings in place Completion of the acquisition was announced on 15 January 2025 (refer ASX release). High-Grade During the quarter OD6 reported the assay results from sampling undertaken at Gulf Creek Copper Assays (refer ASX release). Highlights included at Gulf Creek • Up to 6.49% Cu assayed in massive magnetite-sulphide rock chip samples • Both Massive Sulphide and Massive Sulphide/Magnetite units identified • 2.1% Cu and 0.3% Cu assayed in sediment and exhalative chert rock chip samples, respectively – indicating the potential for mineralised zones as a halo to the historically mined units • Up to 11.75g/t Ag & 2.1% Zn assayed in rock chip samples, providing potential by-product credits • Very high Specific Gravity up to 3.57g/cm3 (t/m3) determined in rock chip samples suggesting potential for high tonnage per cubic meter of material • Strong magnetic correlation associated with high-grade copper assays, providing significant confidence in magnetic targets for potential extensional and repeat high-grade VMS structures • Anomalous gold up to 0.19g/t Au assayed on rock chip samples - providing evidence that gold mineralisation may be encountered in the system The Competent Person cautions that while the Mines Department records in this instance have been collected in accordance with official provisions at the time, they are not absolute measures of the tenor or quantity of mineralisation. The Competent Person considers that these records provide a reasonable indication of the tenor of grades and potential volumes of mineralisation present. 1 2 Figure 1: Gulf Creek Ore Styles: Left– GC240905 - massive magnetite and chalcopyrite grading 6.49% Cu, 2.1% Zn, 28.9% Fe, 441ppm Co, 1.66g/t Ag; Right– GC240907 massive sulphide with pyrite-chalcopyrite-sphalerite grading 0.85% Cu, 1.2% Zn Figure 2: (Left) Sample GC230911 assaying 2.1% Cu with copper oxides weathering out bedding planes in sediment; (Right) Sample GC240906 exhalative chert with disseminated sulphide assaying 0.28% Cu. New potential OD6 also announced the encouraging results of preliminary geophysical inversion high-grade VMS modelling of drone magnetic data at the Gulf Creek Project copper targets identified at Gulf Creek Two mineralisation styles associated with high-grade copper have been identified to date at Gulf Creek, one of these is a massive magnetite + chalcopyrite unit. As such, magnetic modelling can assist with locating sub-surface potential accumulations. The massive sulphide unit (with low-magnetism) is also represented in the Gulf Creek system, but cannot be directly detected with magnetic surveys. The magnetic modelling presented is a 3 geophysical technique used to infer the shape and size of magnetic mineral bearing rocks based on an above-ground survey. Refer to plan view and section below The Geophysical modelling identified multiple, high priority, walk up targets and highlights the potential for extensional and repeat high-grade VMS structures at Gulf Creek, including the following highlights • Historic Gulf Creek mine workings are coincident with a highly-magnetic core >100m long from surface to depths >250m • Big Bend Target – very high magnetism & coincident IP chargeability from near surface to depths >550m • West Limb Targets – West Limb 2 target is a particularly strong anomaly and is modelled from approximately 50m beneath the surface and modelled to approximately 350m below the surface • NW Target – intense magnetism 400m x 80m modelled from near-surface to depths > 400m • Deep Magnetic Target – a large body magnetic body >650 x 350m footprint at depth. ……. Figure 3: Long Section view SW: 3D inversion models of magnetics data. Yellow-Red-Purple indicate zones of increasing magnetism (West limb anomalies projected from off section ) 4 Figure 4: Plan view showing the location of the multiple target magnetic areas and interpreted anticline and syncline Geophysical and Subsequent to the end of the quarter on 7 January 2025 (refer ASX release), OD6 advised Geochemical that a conductivity based geophysics survey plus a surface geochemistry survey had Surveys commenced at the Gulf Creek Copper VMS Deposit in NSW commenced at Gulf Creek The electromagnetic (conductivity) survey is designed to complement and expand on existing magnetic geophysical modelling that has identified multiple, high priority extensional and repeat targets across the tenure. Geochemical Soil sampling has also commenced - with the aim to identify anomalous elements and pathway finder elements that can be indicative of deeper mineralisation concentrations Both geophysical and geochemical programs will target the old workings at Gulf Creek plus the extended Phase 2 target areas of Big Bend, Western, Eastern and North Western 5 Figure 5: Plan view showing the location of the multiple target areas overlain by the planed geophysical, geochemical and proposed drilling locations Rock Chips up to Subsequent to the end of the quarter on 16 January 2025 (refer ASX release), OD6 reported 12% Copper surface rock-chip assay results collected from further recent reconnaissance at Gulf Creek. Highlights included • Up to 12.35% Cu in weathered malachite bearing sediments (Gulf Creek) • Up to 11.60% Cu, 0.27g/t Au, 29.8g/t Ag assayed in banded massive sulphides (Gulf Creek) • Up to 1.04g/t Au with 1.33% Cu in gossan (Gulf Creek) • Up to 1.98% Cu & 0.57% Zn at Murchison Copper Workings located 1.8km north of Gulf Creek • Up to 335ppm Cu from silica-cap/chert near the Big Bend target area indicating potential at depth 6 Heap Leach On 16 October 2024 (refer ASX release), OD6 reported metallurgical tank and heap leaching Game Changer results conducted by Australian Nuclear Science Organisation (ANSTO), which delivered the at Splinter Rock following key outcomes • Column (Heap) Leach tests achieve significant and higher leach recoveries compared to conventional tank leaching • Inside Centre Prospect Column Leach recoveries of 79% Magnet Rare Earth Elements (MagREE) achieved - in comparison to the diagnostic stirred tank leach of 56% • Prop Prospect Column Leach recoveries of 65% MagREE achieved - in comparison to the diagnostic stirred tank leach of 50% • Importantly recoveries for all MagREE’s inclusive of Nd, Pr, Dy, Tb are high - this is the key to optimising project economics for any clay hosted rare earth project. • Low acid consumption shows potential for high-tonnage, low cost heap-leaching operations. • The simpler Heap Leach process has the potential to remove several capital intensive processing steps, which would simplify the flowsheet and reduce capital and operating costs Pr Nd Tb Dy 90 Cumulative Recovery (%) 80 70 60 50 40 30 20 10 0 0 10 20 30 40 50 60 70 80 90 Days under leach Figure 6: Inside Centre Composite Heap Leaching Results – Cumulative Recovery by Day 7 Table 1: Inside Centre Comparative Heap leaching and Diagnostic leaching results Sample Final Extraction (%) (Fusion Digest, liquids) Average Acid Consumption Pr Nd Tb Dy MagREE Kg/t Inside Centre Column Leach 80 80 71 61 79 37.2 Inside Centre Diagnostic Leach 58 56 49 44 56 27.4 Note: Column Leach Tests carried out at 25 g/l HCl at 22°C for 80 days at an irrigation rate of 5 L/m2/h Diagnostic Leach Tests carried out at 25 g/l HCl at 30°C for 24 hours at a slurry density of 4 wt% There will be some variation between original head grade total assay and the sum of residual solid and liquor assays which is not accounted for. Recoveries only reflect initial rare earth leaching, with further losses expected in precipitation, impurity removal, purification and drying. Cumulative Recovery (%) OD6-C1 (Inside Centre) Extraction by Element 100 80 60 40 20 0 La Ce Pr Nd Sm Eu Gd Tb Dy Ho Er Tm Yb Lu Y Rare Earth Element Figure 7: Inside Centre Column Leach REE Recovery by Element Rare Earth With the established rare earth mineral resources and regional prospectivity of Splinter Rock Tenure clearly defined from geophysics, the Company has rationalised its extensive tenement Rationalisation holdings to surrender non-prospective areas and at the same time reduce holding costs. Figure 8 below details the prospect areas retained and the associated clay basins. The clay basins to the south and east are accumulations of lower grade clays deemed to be noneconomic. The areas retained also hold significant upside potential for further Resource growth at Splinter Rock. Given the quality, grade and size of the rare earth resource at Splinter Rock, along with the low prospectivity to identify other commodities in the area, a decision has been made to relinquish all the tenement holdings at Grass Patch, which occurred in late 2024. 8 Figure 8: Revised tenement Holding at Splinter Rock in Western Australia R&D Tax Offset OD6 received A$620k in relation to the Company’s 2023/24 R&D Tax Incentive claim for eligible Australian R&D activities at the Splinter Rock and Grass Patch clay hosted rare earth projects (refer ASX release) • The Company expects to continue R&D works and anticipates being able to claim future tax offsets over the coming years. • The Company is fully committed to R&D as it continues to develop critical minerals technologies through relationships with the CSIRO, Murdoch University, ANSTO, private research providers and internally. Phase 4 ANSTO Phase 4 metallurgical testing continued at ANSTO during the quarter. The focus of the Rare Earth works is summarised below and is largely now focused on samples originating from multiple Metallurgical holes at Inside Centre and Prop, based on heap leach liquors. Tests Ongoing • Impurity Removal Trials: Conduct impurity removal trials under various pH conditions, temperatures, and with different reagents. • Assessment of Resin Use: Evaluate the potential use of resins in both pulp and liquid phases to assist in impurity removal. • Ion Exchange Assessment: Assess ion exchange processes on "leach" liquor and investigate selective elution of REE versus impurities such as Al and Fe. 9 • Nanofiltration Evaluation: Evaluate nanofiltration processes to produce a retentate with increased REE concentration and a permeate containing clean acid for recycling. • Mixed Rare Earth Precipitation: Investigate mixed rare earth precipitation methods, including carbonates and hydroxides. Corporate Annual General Meeting OD6 Metals held its Annual General Meeting (AGM) on 27 November 2024. Please refer to the following ASX Announcements: • 2024 Annual General Meeting Chair Address, 27 November 2024 • Annual General Meeting Presentation, 27 November 2024 • Results of Meeting, 27 November 2024 • Notice of Meeting, 18 October 20204. Annual Report and Corporate Governance OD6 Metals issued its Annual Reports to Shareholders (refer ASX release) along with its Corporate Governance Statement and Appendix 4G (refer ASX release) to the ASX on 10 September 2024. ESG Foundation Initiatives Continue OD6 acknowledges the significance of integrating environmental, social and governance (ESG) practices within its operations, recognising that they are essential for driving positive environmental and social impacts while ensuring robust governance standards. The Company was please to include an inaugural ESG section in its 2023/24 Annual Report (refer ASX release). Cash Holdings The Company had A$1.75M million of cash on hand at 31 December 2024 Securities on Issue Fully Paid Ordinary Shares 128,690,173 (at 31 Dec 24) 134,690,173 # (as at Report date) Performance rights OPTIONS 2,800,000 43,250,371 Options on issue comprise: • 22,050,371 Founder Options exercisable at A$0.30 on or before 31 October 2025. • 3,850,000 Incentive Options exercisable at A$0.30 on or before 31 March 2026. • 300,000 Contractor Options exercisable at A$0.30 on or before 13 April 2025. • 1,500,000 Performance Options exercisable at A$0.50 on or before 31 March 2026. • 2,500,000 Lead Manager Options exercisable at A$0.30 on or before 20 June 2025. • 900,000 Performance Options exercisable at A$0.30 on or before 09 October 2026 • 2,650,000 Incentive Options exercisable at A$0.27 on or before 08 December 2026. • 5,000,000 Broker Options exercisable at A$0.114 on or before 9 May 2027. • 4,500,000 New Chair Options exercisable at $0.10 on or before 5 December 2027 At 31 December 2024 none of the performance milestones of the Performance Rights still on issue have been met, nor had any shares been issued on conversion of Performance Rights. # 6,000,000 fully paid ordinary shares were issued to the vendors of the Gulf Creek Copper tenement EL 8492– refer to ASX Announcement 15 January 2025. 10 A summary of the performance milestones is outlined below: Borrowings CLASS NUMBER MILESTONE EXPIRY DATE B 1,500,000 Upon completion of a scoping study on a Project (prepared in accordance with the guidelines prescribed by the JORC Code and independently verified by an independent competent person under the JORC Code) that demonstrates an internal rate of return (IRR) of more than 20%. 22 June 2025 C 1,000,000 The Company announcing to ASX a JORC Code Compliant inferred (or greater) Mineral Resource (as defined in the JORC Code) of not less than 1,000,000,000 tonnes (of which at least 400,000,000 tonnes must be an indicated Mineral Resource), grading a minimum of 1000 ppm total rare earth oxides (TREO). 08 December 2026 D 300,000 The rights vest on the Company announcing to ASX the results of a Scoping Study (as defined in the JORC Code) showing the potential to generate an internal rate of return (IRR) of more than 20% using consensus prices and Board approved assumptions. 08 December 2026 The Company has no borrowings. Expenditure Exploration Exploration and Evaluation expenditure during the quarter was A$285k. Expenditure Expenditure included site visits, ANSTO metallurgical testing, mineralogy and geological investigation. Related Party During the quarter ended 31 December 2024, payments to related parties amounted to Transactions A$144k, comprising of Managing Director Fees, Non-Executive Director fees, Superannuation and geological consulting fees to GeoSpy Pty Ltd, which is an entity controlled by Darren Holden. 11 Mineral Interests Exploration During the quarter OD6 entered into binding documentation to acquire the license (EL 8492) Tenements over the historic Gulf Creek Copper mine and its surrounding area, in NSW. The Acquisition is subject to certain conditions, in particular ministerial approval for the transfer of the Tenement from the Seller to the Buyer which is anticipated to be completed in Q1 2025. OD6 completed a number of Voluntary Partial Surrenders at Splinter Rock during the Quarter as outlined in Figure 8. OD6 Surrendered all Grass Patch Tenements During the Quarter - E63/2185, E63/2151, E63/2152 and E63/2154. Schedule of Exploration Licenses (E) held end of December 2024 Quarter. PROJECT TENEMENT NUMBER HOLDER STATUS GRANTED OWNERSHIP Gulf Creek Copper Granted 7 Jan 25 100% Gulf Creek EL 8492 Splinter Rock E 63/2115 Odette Six Pty Ltd Granted 4 Feb 22 100% Splinter Rock E 69/3904 Odette Six Pty Ltd Granted 15 Feb 22 100% Splinter Rock E 69/3905 Odette Six Pty Ltd Granted 15 Feb 22 100% Splinter Rock E 69/3907 Odette Six Pty Ltd Granted 14 Feb 22 100% Splinter Rock E 69/3893 Odette Six Pty Ltd Granted 20 Jan 22 100% Splinter Rock E 69/3894 Odette Six Pty Ltd Granted 20 Jan 22 100% Pty Ltd Figure 9: Gulf Creek Project location and geological setting 12 13 ASX Announcements (including Subsequent Events) This Quarterly Activities Report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (2012 JORC Code). Further details (including 2012 JORC Code reporting tables where applicable) of exploration results referred to in this Quarterly Activities Report can be found in the following announcements lodged on the ASX: 17/01/2025 Cleansing Notice 16/01/2025 Rock Chips up to 12.35% Cu & 1.04g/t Au from Gulf Creek 15/01/2025 Application for quotation of securities - OD6 15/01/2025 Completion of Acquisition of Gulf Creek Copper Project 08/01/2025 Geophysical and Geochemical Surveys Commenced at Gulf Creek 06/12/2024 Change of Directors Interest Notice – Wayne Bramwell 06/12/2024 Notification regarding unquoted securities – OD6 27/11/2024 Results of Meeting 27/11/2024 Annual General Meeting Presentation 27/11/2024 2024 Annual General Meeting – Chair Address 14/11/2024 New Potential High-Grade VMS Copper Targets at Gulf Creek 11/11/2024 Research and Development Tax Offset Funds Received 06/11/2024 High-Grade Copper Assays Confirms Potential at Gulf Creek 30/10/2024 Gulf Creek Copper Project Acquisition Presentation 30/10/2024 Acquisition of Historical High-Grade Copper Mine 18/10/2024 Notice of Annual General Meeting / Proxy Form 16/10/2024 Heap Leach Testing Improves Metallurgical Recoveries These announcements are available for viewing on the Company’s website https://www.od6metals.com.au/. OD6 confirms that it is not aware of any new information or data that materially affects the information included in any original ASX announcement. 14 Forward Looking Statements Certain information in this document refers to the intentions of OD6 Metals, however these are not intended to be forecasts, forward looking statements, or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to OD6 Metals projects are forward looking statements and can generally be identified by the use of words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. There can be no assurance that the OD6 Metals plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause OD6 Metals actual results, performance, or achievements to differ from those referred to in this document. While the information contained in this document has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum extent permitted by law, OD6 Metals and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence). No new information Except where explicitly stated, this announcement contains references to prior exploration results, all of which have been cross-referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements. The information in this report relating to the Mineral Resource estimate for the Splinter Rock Project is extracted from the Company’s ASX announcements dated 18 July 2024. OD6 confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply. This announcement has been authorised for release by the Board of OD6 Metals Limited 15 About OD6 Metals OD6 Metals is an Australian public company pursuing exploration and development opportunities within the critical minerals sector, namely rare earths and copper. Copper The Company is also looking to advance the proposed acquisition of the Gulf Creek Copper-Zinc VMS Project located near the town of Barraba in NSW, Australia. Gulf Creek was mined at around the turn of the 20th century and was once regarded as the highest grade copper mine (2% to 6.5% Cu) in NSW until its closure due to weak copper prices in 1912. Very little exploration has occurred at the project in over 100 years, with OD6 aiming to apply modern day exploration technologies. Mineralisation is associated with magnetite, with geophysics showing significant greenfields and brownfields exploration potential exists with over >3km of untested strike in the immediate mine-stratigraphy, and over >10km across the tenement. Rare Earth OD6 Metals has successfully identified clay hosted rare earths at its 100% owned Splinter Rock and Grass Patch Projects which are located in the Esperance-Goldfields region of Western Australia. The Company released a Mineral Resource Estimate (MRE) for Splinter Rock in May 2024, confirming that the project hosts the largest and highest-grade clay-hosted rare earths deposit in Australia with a Indicated Resource of 119Mt @ 1,632ppm TREO and a Inferred Resource of 563Mt @ 1,275ppm TREO with an overall ratio of ~23% high-value Magnetic Rare Earths (MagREE). OD6 Metals believes that Splinter Rock has all the hallmarks of a world class rare earths project with a conceptual development which utilises the large and high-grade Splinter Rock resource to support a long-life REE operation supported by a low strip ratio Corporate Directory Managing Director Mr Brett Hazelden Non-Executive Chairman Wayne Bramwell Non-Executive Director Dr Darren Holden Non-Executive Director Mr Piers Lewis Non-Executive Director Dr Mitch Loan Financial Controller/ Joint Company Secretary Mr Troy Cavanagh Joint Company Secretary Mr Joel Ives Contact Investor Relations OD6 Metals Ltd Lucas Robinson ACN 654 839 602 Corporate Storytime www.od6metals.com.au lucas@corporatestorytime.com Mail to: info@od6metals.com.au Phone: +61 408 228 889 Phone: +61 8 6189 8515 Level 1, 50 Kings Park Road, West Perth, WA 6005 PO Box 277, North Beach, WA 6920 PO Box 2009, Esperance, WA 6450 16 Rule 5.5 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity OD6 Metals Limited ABN Quarter ended (“current quarter”) 34 654 839 602 31 December 2024 Consolidated statement of cash flows Current quarter $A’000 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for Year to date (6 months) $A’000 - - (130) (130) (b) development - - (c) production - - (d) staff costs (95) (193) (e) administration and corporate costs (245) (442) - - 12 41 (a) exploration & evaluation 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (refund of tenement application fees) 31 31 1.9 Net cash from / (used in) operating activities (427) (693) 2. Cash flows from investing activities 2.1 Payments to acquire or for: - - (b) tenements (7) (8) (c) property, plant and equipment (2) (2) (285) (419) (e) investments - - (f) - - (a) entities (d) exploration & evaluation other non-current assets ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 1 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows 2.2 Current quarter $A’000 Year to date (6 months) $A’000 Proceeds from the disposal of: (a) entities - - (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (R&D Tax refund and Government grants) 620 620 2.6 Net cash from / (used in) investing activities 326 191 3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) - - 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - (77) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities - (77) 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 1,847 2,325 4.2 Net cash from / (used in) operating activities (item 1.9 above) (427) (693) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 326 191 4.4 Net cash from / (used in) financing activities (item 3.10 above) 0 (77) ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 2 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period 5. Reconciliation of cash and cash equivalents Current quarter $A’000 Year to date (6 months) $A’000 - - 1,746 1,746 Current quarter $A’000 Previous quarter $A’000 at the end of the quarter (as shown in the consolidate