Announcement PDF Annual Report 2023 ABN: 34 654 839 60 ASX I OD6 1 CONTENTS Chair’s Letter 2 Managing Director’s Overview 4 Review Of Operations 9 Environmental, Social and Governance 15 Corporate 30 Annual Financial Report 34 Corporate Directory 35 Directors’ Report including Remuneration Report 36 Corporate Governance Statement 44 Auditor’s Independence Declaration 45 Consolidated Statement of Profit or Loss and Other Comprehensive Income 46 Consolidated Statement of Financial Position 47 Consolidated Statement of Changes in Equity 48 Consolidated Statement of Cash Flows 49 Notes to the Financial Statements 50 Directors’ Declaration 67 Independent Auditor’s Report 68 ASX Additional Information 74 Schedule of Mineral Tenements 78 ACKNOWLEDGEMENT OF COUNTRY OD6 Metals Limited acknowledges the Esperance Nyungar and Ngadju Peoples of the land and waters upon which our exploration is focused, and the Whadjuk People of the land upon which our offices are based. We pay our respects to the Traditional Owners and their elders past, present and emerging. 1 CHAIR’S LETTER Dear Shareholder As the Chair of the board of OD6 Metals Ltd and on behalf of the Board and Management, it is my pleasure to provide this letter in the Company’s second Annual Report since listing on the Australian Securities Exchange (ASX) in June 2022. On behalf of the Board of Directors, I acknowledge the Ngadju people and the Esperance Nyungar people, the Traditional Owners of the land upon which we work. We pay our respects to the respective Traditional Owner groups and their elders, past, present and emerging. We thank the Traditional Owners and their representatives for their support on-country over the past year. Our Company has continued to make remarkable progress with its exploration for Rare Earth Elements (REE) across its tenements, which encompass 4,828 square kilometres, in districts near Esperance in Western Australia. Having raised A$8 million at the end of the previous financial year we moved quickly to establish a small, highly skilled team to manage a set of targeted exploration activities. Our team ensured we completed the maiden drilling program at Splinter Rock within the first three months of the 2023 financial year. The results from that drilling program recorded outstanding REE assay levels, representing some of the highest grades and thickest clay-hosted rare earth intersections seen in Australia. In October 2022, the Company announced it had entered into an agreement with the CSIRO, supported through the Kick-Start Program, in order to generate an improved geochemical and geophysical understanding of the techniques needed to increase confidence in REE exploration. During that same month the Company commenced an airborne electromagnetic survey, across both its Grass Patch and Splinter Rock Projects, designed to enable future targeted drilling of high priority exploration areas. When this data was assessed, it strongly aligned with the initial drilling results and enabled the identification of 253 square kilometres of combined clay basin target areas. In January 2023, OD6 Metals commenced a first pass reconnaissance drilling program at the Grass Patch Project which confirmed significant areas of high grade, clay hosted earths with three main prospects identified for further follow up drilling. The second half of the financial year also saw further drilling at Splinter Rock, to strengthen and expand on the earlier results. An initial metallurgical test work program, through the Australian Nuclear Science and Technology Organisation (ANSTO), recorded some excellent recoveries and provides a platform for our on-going metallurgical studies. Metallurgical engineering, along with innovative strategies for sustainable development, are key parts of our ongoing research and we are fortunate to have the assistance from several research providers including the CSIRO, Murdoch University, ANSTO and industry leading consultants. In striving towards the potential future development of our REE resources, OD6 Metals is pursuing a disciplined approach to geometallurgy whereby we not only prioritise areas, tonnes and grade, but we move to also maximise value through a “Best of the Best” strategy. We are out to prioritise areas replete with all the characteristics required - tonnes, grade, thickness, strip-ratio, high metallurgical recovery and low reagent consumption. We continue to conduct research into engineering aspects including how to efficiently provide what is required for large scale development including, studies into producing reagents on-site and utilising the excellent renewable energy resources available to the Esperance district. We achieved a key milestone in July 2023, being a maiden Inferred Mineral Resource Estimate of 344 million tonnes at 1,308ppm Total Rare Earth Oxides at 1,000ppm cut-off grade for the Splinter Rock Project 1. 1 ASX Ann: Splinter Rock Maiden Mineral Resource 18 July 2023 2 CHAIR’S LETTER (CONTINUED) The impressive result was derived from less than five per cent of the targeted clay basin area, with on-going exploration now anticipated to further expand the known mineralised zones. This remarkable outcome was achieved in less than a year from the start of the first drilling. One crucial aspect of how we operate is reflected by our Environmental, Social and Governance (ESG) approach which was initiated during the last 12 months. Our ESG aims are to minimize our environmental impact, look after our people, grow with our communities and create value for our stakeholders. As always, all of our activities are underpinned by high standards of business ethics, governance and regulatory compliance, along with acting with integrity to responsibly deliver future rare earth resources for a low carbon future. On review of our first year as a listed entity I am proud to state that OD6 Metals has fulfilled the short-term commitments made in the 2022 Prospectus and our project at Splinter Rock has exceeded even our own lofty ambitions. The support of our loyal shareholders is also greatly appreciated by the Board as, although the major achievements of the past year are remarkable, there remains a great deal more to do. Critical minerals exploration, discovery and development is crucial for a world in an energy industry transition. Australia is set to provide a globally significant role in this future. OD6 Metals, is at the vanguard of this future with some of the most extensive and highest-grade clay-hosted Rare Earth Element (REE) deposits in the country. On behalf of the Board, I congratulate everyone involved in contributing to the OD6 Metals story this year and look forward to sharing the journey with you as we carry our business towards a bright future. Yours faithfully Dr Darren Holden Non-Executive Chair 6 September 2023 3 MANAGING DIRECTORS OVERVIEW I am pleased to take this opportunity to provide my first Managing Director’s Overview for an OD6 Metals Annual Report, setting out our place in the Rare Earth Elements (REE) resource sector and explaining our vision of the future for the Company. OD6 Metals is an Australian public company pursuing exploration and development opportunities within the critical mineral sector. The Company 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 - about 30 to 150 kilometres north and northeast of the major port and town of Esperance. Drilling and geological analysis at its flagship Splinter Rock has shown widespread, thick, high-grade clay hosted REE deposits that extend over hundreds of square kilometres. Metallurgical testing using hydrochloric acid to leach the rare earths have resulted in positive REE recoveries with optimisation ongoing. The Company aims to delineate and define economic resources and reserves of REEs, in particular Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb) which can be developed into a future revenue generating mine. Clay REE deposits are currently economically extracted in China, which is the dominant world producer of REEs. REEs are becoming increasingly important in the global economy, with uses including advanced electronics and permanent magnets in electric motors. As an example, a neodymium magnet used in a wind turbine or electric vehicle motor is 18 times stronger than a standard ferrite magnet significantly increasing energy use efficiency. 4 MANAGING DIRECTORS OVERVIEW (CONTINUED) For the OD6 Metals team, it has been a very busy time post the Company listing on the ASX in late June 2022. As outlined in the timeline below and the following list of our key announcements, we have achieved a significant body of work to reach the point where we were able to publish Australia’s largest and highest grade clay hosted rare earth Resource Estimate at our Splinter Rock Project 2. Timeline - Delivering on the Commitments to Shareholders Key ASX Announcements (including ASX hyperlinks) 2 Date Announcement Title 12 July 2022 Drill Preparations Complete at Splinter Rock 29 August 2022 Drilling Commences at Splinter Rock 3 October 2022 Drilling Complete at Splinter Rock REE Project 5 October 2022 OD6 Engages CSIRO on Splinter Rock REE Project 17 October 2022 Airborne Electromagnetic (AEM) Survey Commences 10 November 2022 Outstanding Initial Drilling Assay Results 1 December 2022 Excellent Drilling Assay Results Continue 2 December 2020 Full Drill Program Summary Presentation 15 December 2022 AEM Shows Vast Scale of Target Areas 17 January 2023 Drilling Commenced at Grass Patch 1 February 2023 Drilling Complete at Grass Patch 27 February 2023 Second Phase Drilling Complete at Splinter Rock ASX Ann: Splinter Rock Maiden Mineral Resource 18 July 2023 5 MANAGING DIRECTORS OVERVIEW (CONTINUED) Key ASX Announcements (Continued) Date Announcement Title 24 March 2023 Grass Patch Drilling Identifies High-Grade REEs 3 April 2023 Very High Metallurgical Recoveries 18 April 2023 Bumper REE Grades and Extensive Thicknesses at Splinter Rock 24 April 2023 Successful Exploration Incentive Scheme Application 8 June 2023 Phase Three Drilling Commences At Splinter Rock 18 July 2023 Splinter Rock Maiden Mineral Resource 344Mt @ 1,308 ppm TREO Inferred Resource at a 1,000ppm cut-off grade 18 July 2023 Globally Significant Clay Hosted Rare Earth Discovery - Investor Presentation 15 August 2023 Phase 3 Drilling Complete at Splinter Rock REE Project OD6 Metals can now confidently state that the Splinter Rock Project, with 344 million tonnes at 1,308 parts per million Total Rare Earth oxide or TREO and using a 1000ppm cutoff grade, has the largest and highest grade clay hosted rare earth resource in Australia. Importantly, we expect this Resource to grow significantly over the next 6 to 18 months as we drill new areas identified using the airborne electromagnetic survey (AEM) completed in late 2022. The AEM survey has been a key contributor to our exploration success with over 250 square kilometres of clay basins mapped so far, of which the Maiden Resource represents less than five per cent of these basin areas. The potential for a multi-generation asset at Splinter Rock is now a real prospect. Splinter Rock Project – Airborne Electro Magnetic Survey Results with existing and proposed drill locations 6 MANAGING DIRECTORS OVERVIEW (CONTINUED) Going forward a critical focus area for our team will be determining the economics of any future business and the total cost of extracting the REE from our best deposits. As part of our Resource assessment process we internally considered potential mining, processing and business costs of a new rare earth industry based in Esperance and concluded that the use of a 1,000ppm cut-off grade was appropriate. The economics of any minerals industry will always revolve around having the highest possible head grades, but in addition to this, metallurgical recoveries, stripping ratio and reagent costs will be key drivers for a clay hosted rare earth project to be successful. With our stripping ratio expected to be relatively low, geo-metallurgical factors now form a key focus for OD6 Metals moving forward. Geometallurgy (GeoMet) refers to the practice of combining variables such as geology, grade, volume, geochemistry, mineralogy and metallurgy to combine economic models with exploration. The aim is to optimise the economics of a deposit to facilitate the identification and ranking of preferred initial mining areas across clay hosted prospects. As Splinter Rock’s GeoMet relationships are systemically mapped, clay areas containing the highest grades and metallurgical recoveries of rare earth elements can be identified and targeted for advanced stage work streams. OD6 Metals is working with some of Australia’s leading science and technology organisations including ANSTO, CSIRO and Murdoch University to unlock the potential of our clay hosted rare earth prospects. Based on the mineralogy and metallurgical works completed to date we have identified a processing pathway that will continue to be modified and optimised over time. We have looked at the different recoveries possible from using different acids in the leaching process and concluded that hydrochloric acid will achieve higher recoveries, albeit noting the need to remove those impurities that get leached using hydrochloric acid. Further, we believe the viability of the project will also be driven by utilising a Chloralkali process to create the acid onsite by converting salt (NaCl) and water in an electrolyser to hydrochloric acid and sodium hydroxide, from predominantly renewable energy (wind, solar and battery). Importantly this process gives us both an acid and a base which are required to produce a final Mixed Rare Earth Carbonate or Hydroxide (MREC/H). Indicative Processing Steps – Simplified Delivery of Rare Earth Products 7 MANAGING DIRECTORS OVERVIEW (CONTINUED) As part of our research and development of the processing pathway with our partners at ANSTO and CSIRO, we continue to evaluate and study the various parameters so that we can identify a way to economically upgrade the clays, leach the rare earths, remove the impurities, produce a saleable MREC/H and return the treated clays back to mining areas. This will take a disciplined approach to geo-metallurgical modelling of the clays and optimising the relationships between grade, recovery, reagent consumption and final product purity. Mining of clay hosted REEs in Australia is in its infancy and many sections of the investment community and exploration sector lack a clear understanding of the different factors that will influence the exploration, development and success of these projects. OD6 Metals has started its exploration and development journey with a clear approach focusing on highly targeted geometallurgical exploration to prioritise the ‘best of the best’ resource (grade, MagREO content, thickness, metallurgical recovery and acid consumption) to then integrate with a disciplined design, evaluation and delivery of a scoping study that creates sustainable value. We look forward to updating the market on the fundamental quality of our Projects Brett Hazelden Managing Director 6 September 2023 8 REVIEW OF OPERATIONS The Company OD6 Metals Limited is an Australian public company with a purpose to pursue exploration and development opportunities within the resources sector. The Company, through the Subsidiaries, holds a 100 per cent interest in in the following Projects: • Splinter Rock Project: a 2,579 square kilometre tenement package located approximately 150 kilometres northeast of Esperance, Western Australia, comprising six granted exploration licences, being E63/2115, E69/3904, E69/3905, E69/3907, E69/3893 and E69/3894. • Grass Patch Project: a 2,248 square kilometre tenement package located approximately 30 kilometres to 100 kilometres north of Esperance, Western Australia, comprising four granted exploration licences, being E63/2151, E63/2152, E63/2185 and E63/2154 and two exploration licence applications, being E63/2153 and E74/693. The location of the OD6 Metal’s REE Projects are shown in the following table with the locations shown on the subsequent map. PROJECT TENEMENT NUMBER HOLDER STATUS GRANTED OWNERSHIP 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% Grass Patch E 63/2185 Grass Patch Metals Pty Ltd Granted 1 Mar 22 100% Grass Patch E 63/2151 Grass Patch Metals Pty Ltd Granted 2 Dec 21 100% Grass Patch E 63/2152 Grass Patch Metals Pty Ltd Granted 3 Dec 21 100% Grass Patch E 63/2154 Grass Patch Metals Pty Ltd Granted 6 Dec 21 100% Grass Patch E 63/2153 Grass Patch Metals Pty Ltd Application - 100% Grass Patch E 74/693 Grass Patch Metals Pty Ltd Application - 100% 9 REVIEW OF OPERATIONS (CONTINUED) Splinter Rock Project The Splinter Rock project is located approximately 150 kilometres by road northeast of Esperance. The Project is located on unallocated crown-land and the Company has a strong working relationship and agreements with the traditional owners via the Ngadju and the Esperance Tjaltjraak Native Title Aboriginal Corporations. The Splinter Rock clay-hosted REE mineralisation is currently thought to be a mobilised weathering product of the REE enriched Booanya granite suite, which underlies the Project area. Historic work and examination of target geology indicates that the target area at Splinter Rock covers 30 kilometres by 60 kilometres. OD6 Metals has identified four prospect areas from drilling and geophysics that contribute to the Mineral Resource estimate: • • • • Centre: Large clay basin within an elevated tableland. Clays have potentially pooled in this area from Booanya granite to the north. Scrum: Magnetic dipole, with the northern area residing over a magnetic high in Booanya granite grading to a magnetic low in the south. Prop: Located at the lowest elevation and is surrounded by Booanya to the north and south and interpreted to be a glacial paleo-valley filled with clay. Flanker: Sits on top of a magnetic high on the Booanya granite and most likely to comprise some transported clays but is potentially related to a localised weathered granite profile. The prospects contain some of the thickest and highest grades of clay hosted REE’s in Australia. The thickness, area and density of the clays show the massive potential scale of REE at Splinter Rock. 10 REVIEW OF OPERATIONS (CONTINUED) Works undertaken during the 2022-2023 Financial Year and subsequent events included. • • • • • • • • • • • • 110 Kilometres of Track Upgrades Completion of Multiple Heritage Surveys Maiden Drilling Program CSIRO Collaboration Airborne Electromagnetic Survey Assay Results Identify Widespread Thick Clay Hosted REE Mineralisation Phase 2 Drilling Program Achievement of Very High MagREO Recoveries Bumper Phase 2 Assay Results Successful Application for Exploration Incentive Scheme (EIS) Co-Funded Drilling Phase 3 Drilling Program Commenced Reporting of Maiden Mineral Resource Estimate Major Mineral Resource Estimate 3 The Mineral Resource Estimate (MRE) is expressed as Total Rare Earth Oxide (TREO), represented by: TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 The key magnet rare earth elements Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy) are included individually as these four rare earths comprise the highest price and demand, driving the future economics of the Project. The Mineral Resource is presented as elemental oxides (as opposed to elements) in accordance with current industry practice. Prospect Category Tonnes (Mt) TREO (ppm) Pr6O11 (ppm) Nd2O3 (ppm) Tb4O7 (ppm) Dy2O3 (ppm) MREO (ppm) MREO/TREO (%) Centre Scrum Flanker Prop Total Inferred Inferred Inferred Inferred Inferred 149 120 42 33 344 1,423 1,222 1,246 1,180 1,308 71.2 57.7 58.9 49.9 62.5 244.6 208.1 210.9 179.4 220.2 2.6 2.7 2.9 2.3 2.6 14.1 14.7 16.0 12.9 14.5 329 283 288 244 300 23.1 23.2 23.2 20.7 22.9 Table 1: Splinter Rock Rare Earth project Mineral Resource Estimate - by Prospect at 1,000ppm TREO cut off grade The Mineral Resource for Splinter Rock has been reported at a 1,000 ppm TREO cut-off grade. The cut-off grade was chosen on the basis of a preliminary review of the parameters that would likely determine the economic viability of an open pit operation and with comparison to other clay hosted REE deposits. 3 ASX Ann: Splinter Rock Maiden Mineral Resource 18 July 2023 11 REVIEW OF OPERATIONS (CONTINUED) The Mineral Resource was estimated cumulatively for consecutive grade groups which allows for the results to be reported cumulatively for different cut-off grades and presented for comparison purposes (refer Table 2 and Figure 1). JORC Category Cut-off ppm TREO Tonnes (Mt) TREO (ppm) Pr6O11 (ppm) Nd2O3 (ppm) Tb4O7 (ppm) Dy2O3 (ppm) MREO (ppm) MREO/TREO (%) Inferred Inferred Inferred Inferred Inferred Inferred 400 600 800 1,000 1,200 1,400 1,141 838 583 344 196 105 869 1,006 1,140 1,308 1,471 1,625 41.3 48.0 54.6 62.6 70.6 78.2 144.5 168.7 192.1 220.3 248.1 274.1 1.8 2.1 2.3 2.6 2.9 3.1 10.0 11.4 12.8 14.5 15.9 16.8 198 230 262 300 338 372 22.7 22.9 30.0 22.9 22.9 22.9 Table 2: Splinter Rock Rare Earth project Mineral Resource Estimate - by global cut off grade The Competent Person for this MRE is Mr Jeremy Peters, FAusIMM CP (Min, Geo), a full-time employee of Burnt Shirt Pty Ltd. Mr Peters has sufficient relevant experience in the reporting of Ore Reserves to act as Competent Person as defined by the JORC Code (2012 Edition) and consents to his nomination as such in this Report. Burnt Shirt reports that at Splinter Rock: • • • • Mineralisation is derived from weathering of granite of the Booanya suite and comprises clays and transported materials. TREO grades are comparable to (or greater than) those being commercially exploited elsewhere in the world. Preliminary metallurgy indicates that the REE’s are amenable to conventional clay processing techniques (acid leach) practised elsewhere. Burnt Shirt endorses an Inferred Mineral Resource estimate for Splinter Rock of 344 million tonnes grading 1,308 ppm TREO. Splinter Rock mineralisation is open towards the northeast and southwest of the central drill traverse at each prospect. Burnt Shirt recommends that OD6 Metals: • • • • Continue infill drilling to upgrade the maiden MRE to Indicated classification; Continue metallurgical studies to design an appropriate flow sheet; Concentrate further immediate geological work on identification of high-grade material; and Determine what is required to estimate an Indicated Mineral Resource of sufficient size to support capital expenditure and progress. Grass Patch Project The Grass Patch project is located across an area approximately 30 kilometres to 100 kilometres north of Esperance. The Project is predominantly on private agricultural land and covered with wheat and sheep farming, with cultivated topsoil cover of approximately 30 centimetres. The Tenements have extensive calcrete formation, which is up to 30 centimetre in thickness, with such calcrete material having been quarried and utilised for sheeting the secondary roads within the region. 12 REVIEW OF OPERATIONS (CONTINUED) High-grade clay REEs have been successfully identified in a 93-hole reconnaissance drilling program conducted in early 2023. • • • • Grades of up 3,340ppm TREO with up to 38.5 per cent MagREO encountered Thick clays encountered of up to 59m (average range of 3 metres to 20 metres) Three key areas to be targeted for further exploration: Belgian Prospect, Circle Valley Prospect, Scaddan Prospect High-potential Prospect areas to undergo metallurgical testing to determine potential recoveries and inform future exploration Grass Patch Project – Significant Intercepts 13 REVIEW OF OPERATIONS (CONTINUED) Works undertaken during the 2022-2023 Financial Year included. • • • • • CSIRO Collaboration Heritage Surveys Airborne Electromagnetic Survey Initial Drilling Program Confirmation of High Grade Clay Hosted Rare Earths AEM conductivity model of Grass Patch Project with completed and planned drill holes 14 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) Sustainability At OD6 Metals we take great pride in our commitment to sustainability and responsible business practices. As a newly emerging rare earth exploration company, our approach to ESG (Environmental, Social and Governance) reflects our vision for a greener, more equitable future. We recognise the significance of social responsibility and prioritise the well-being and safety of our employees and the personnel we interact with. Through the integration of ESG principles into our corporate strategy, we endeavour to lead OD6 Metals and the industry into a more sustainable tomorrow. Rare Earth Elements’ Role in the Energy Transition Rare earths are a series of elements that are experiencing an insatiable demand due to the composition of rare earth magnets (MagREO), the need for a diversified global supply chain and the increasing awareness of the importance of critical minerals for a low carbon future. In Australia, rare earths have gained prominence due to the Government’s diversity of supply requirements. The value of global MagREO consumption is expected to triple by 2035 (rising from US$15.1billion in 2022 to US$46.2 billion in 2035.4 OD6 Metals is working to secure a sustainable future through an environmentally and socially responsible approach to producing critical rare earth materials for a cleaner energy future. ESG Committee To ensure Board oversight of Environment, Social and Governance (“ESG”) matters, OD6 Metals has established an ESG Committee and an ESG Committee Charter under the Corporate Governance Plan 5. As outlined in the Charter, the ESG Committee’s main objective is to support and advise the Board in addressing sustainability matters. In FY23, the ESG Committee met once to determine sustainability issues that are material to OD6 Metals. Informed by OD6 Metals’ sustainability priorities, the ESG Committee articulated OD6 Metals’ ambition and commitment to sustainability. An ESG Policy has been formulated to provide guidance to the Board and employees on the Company’s activities to minimise adverse sustainability impacts and ensure the Company conducts its operations sustainably. Stakeholder Engagement The Company recognises that meaningful engagement with stakeholders is essential for long-term success. It actively seeks input from stakeholders, which at this time include local communities, First Nation Peoples (the Ngadju people and the Esperance Nyungar people, the Traditional Owners of the land upon which we work), landowners, employees, contractors, suppliers, Local Government, State Government, Federal Government, non-government organisations, investors, community groups, and regulatory bodies, to better understand their expectations and address their concerns. 4 5 Source Adamas Intelligence, June 2022 https://www.od6metals.com.au/wp-content/uploads/2022/04/Corporate-Governance-Plan-OD6-Metals-Limited-vF.pdf 15 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) (CONTINUED) The Company values the diversity of perspectives and actively incorporates stakeholder feedback into decisionmaking processes. Stakeholders How we engaged Government and Regulators Reporting, approvals, licences and permits, Critical minerals meetings, briefings, publications and participation in Rare Earth supply public policy discussions, forums, relationships with Resource management government ministers and government agencies, Cultural heritage letters, emails, formal submissions, website, Workplace health and safety participation in industry association and advocacy Climate change bodies, annual reports including establishment of Regulatory reform including support for applicable committees and related activities new energy and critical minerals sector Direct engagement, heritage surveys, phone calls, Indigenous engagement and email, media, meetings, feedback sessions and procurement cultural awareness training Heritage Surveys Community relationships First Nation Peoples Key Interests and Concerns Shareholders and Website, investor briefings, annual general Investors meetings, emails, annual reports, and ASX announcements and financial reports Rare earth price and trends Geological discoveries Company development Financial performance Employees and Contractors SharePoint Hubs, team meetings, site meetings, induction training and emails Implementation of an Employee Assistance Program Health, safety and wellness Esperance based employees Impacts of fly-in fly-out (FIFO) lifestyle Company development Wellbeing Communities Direct engagement, phone calls, email, media (including newspaper articles, meetings, events), website, feedback, and local procurement in the Goldfields / Esperance Regions Local procurement First Nation Peoples engagement OD6 Metals development Support of Shire of Esperance activities Suppliers/Vendors Direct engagement, phone calls, email, media, Supply chain opportunities newspaper, meetings, feedback sessions and Rising costs procurement of services locally in accordance with Contract terms our Local Procurement Policy, adherence to agreed Esperance and Goldfield