Money of Mine

We get the ball rolling today with news that Albemarle (ALB) have an additional 7 days to work on their Liontown (LTR) bid whilst we received confirmation Gina now holds 19.9%.We then took a peek at Delta Lithium (DLI) handy little gold deposit before launching into our opinion of St Barbara’s strategy and incentives, given they bank accounts holds a lousy $240m.Black Rock Mining (BKT), Lithium Power (LPI) and Wildcat (WC8) all get a mention too with funding, transaction, and drilling updates respectively.We round off with a quick mention on Azure Minerals (AZS) and a teaser of what we have in store for the Money Miners! All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners:Terra Capital – Specialist Investment manager in the natural resources sectorAnytime Exploration Services – Exploration workers, equipment, core cutting/storage + much moreJP Search – Recruitment specialists for the financial worldK-Drill – Safe, reliable, and productive surface RC drillingSMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTubeFollow Money of Mine on TwitterFollow Money of Mine on LinkedInFollow Money of Mine on Instagram Chapters:(0:00) Preview(0:47) Intro(3:21) Is Gina going to kill the Liontown takeover?(5:19) Delta Lithium release handy gold resource(8:52) St Barbara’s (mis)-aligned incentives + strategy(23:40) Interpreting Black Rock’s funding update(25:32) Lithium Power’s rumoured takeover #verified(26:52) Wildcat release some more drill holes(30:22) Azure Minerals “cleansing” the market(32:51) A hint of what’s to come!

Today we sat down for a cracking chat with natural resource fund manager David Franklyn to drill into how he’s seeing the world. We went deep into the current commodities set up from a macro economic point of view, how the landscape of commodity producing & processing countries will change in the coming years plus plenty of different companies that many of the Money Miners will be familiar with. We hope you enjoy the yarn as much as we did! All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps: (0:00) Preview(0:40) Intro(3:55) Intro to Dave Franklyn(5:58) Explaining that picture(7:02) How to juggle today’s macro set up(10:33) Being high conviction(15:55) Commodity producing countries versus processing countries(19:05) What to make of consensus company price outlooks(23:00) Metals Acquisition Co. – the SPAC(25:37) How’s lithium looking (PLS, MIN, GL1)(32:43) Teck’s future in the balance(34:33) How will uranium play out?(38:43) De Grey’s DFS + GOR’s future plans(46:10) AuTECO 2.0 – Green Bay play(52:19) How will Mr Beament grow Develop?(56:42) The ongoing WA lithium consolidation (Gina-Ellison get-together)(1:00:09) Learning from investment misses(1:04:20) Under-rated vs Over-rated!

Azure Minerals (AZS) led us it with a couple of intriguing talking points. We ran through their initial met test-work which gave the market some cause for concern, plus their latest drill hits. Bellevue (BGL) was next off the rank with a project update for Matty to tuck into. We raised some comments from Appian Capital’s founder on the back of their latest fundraising (US$2b+ fund III) while finishing off on Atlantic lithium’s (A11) positive announcement as they look to progress their Ghanaian lithium project Ewoyaa. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps: (0:00) Preview(0:49) Intro(2:38) Azure Minerals has an up-and-down couple of days(17:51) Bellevue getting to crunch time(24:02) Appian raise chuncky new fund(26:03) Atlantic Lithium one step closer

Today we went deep on Filo Mining with CEO Jamie Beck. Filo have discovered & are advancing the Filo Del Sol copper-gold-silver project high up in the Andes. They fly under the radar in Australia but given their scale and our lack of copper opportunities we thought they’d be worth a chat. We grilled Jamie on all the challenges that come along with working at 4000m+ elevation, on an isolated project spread across two countries with a rumoured capex figure in the many billions. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps: (0:00) Preview(1:16) Intro(4:46) Jamie Beck on Money of Mine(6:28) What is the relationship with the Lundin Family?(12:10) Story of Vicuna(14:35) How does Argentina differ from neighbouring South American countries?(16:40) Is working in Argentina viable?(18:33) The money outflow challenge in Argentina(21:13) Discovery to production, will it be like other Latin American projects?(23:13) What is an epithermal porphyry deposit?(24:56) When is “enough enough” in terms of progressing from exploration to production?(26:54) Drill spacings for defining porphyry deposits(28:19) Open Pit vs Underground Caving for massive deposits(31:25) Will the Sulphide resource stack up compared to Oyu Tolgoi, Cascabel and Wafi Golpu?(33:33) High Arsenic levels(39:22) Water constraints and will it need a De-Sal plant?(43:47) We’ve seen the demerge… will we see the remerge?(47:47) Financing options considering BHP are on the register(52:09) Would BHP and RIO approach developing an Escondida style deposit differently in an electrification style Mining world?(54:27) What keeps Jamie awake at night(55:07) Jamie shares his thoughts on Money of Mine

Welcome to the first ever global Podcast interview from inside an OPEN PIT (we’re claiming the first). The Money of Mine crew had the pleasure of recording this episode in the historic Great Fingal Pit, close to the town of Cue. Would you believe this trip was Trav’s first venture underground? We got to speak with some real mining people while out there – recordings filmed underground which we look forward to sharing in due course. This recording summarises some of our takeaways from the trip chatting with Westgold’s MD, Wayne Bramwell and various site leaders there at Cue. It’s a bit of a different episode to usual but we hope the Money Miners enjoy the uniqueness nonetheless. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:54) Intro(4:54) Kicking off Great Fingal(6:34) Westgold M&A(8:45) Recruitment and culture in today’s Mining industry(10:33) Power innovations(13:32) Wayne Bramwell’s questions back at us(18:47) The buck stops with the General Manager(27:13) The “herder of cats” – life of an Underground Manager(36:44) The “hirer and firer” – life of HR(49:07) Trav’s takeaway’s from the trip

We spoke about a couple of majors plus an intriguing junior today. BHP tuned into our comments on nickel earlier in the week and voiced their thoughts, saying that they’re sticking with nickel despite what others think. Rio has dished out a US$100m loan to partners in their Simandou iron ore project, one of the richest and thus far untapped projects globally. We saved a deep diving special for Besra Gold (BEZ), a truly fascinating story for the Money Miners to tune into! All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Chapters:(0:00) Preview(0:49) Intro(4:19) Gina edges even higher on Liontown(8:00) BHP sticking to their guns with Nickel(11:29) Will Simandou finally become a Mine???(20:02) Trav Smells Something Curious at Besra Gold!

We start the show with Barrick’s news that they’re going big on copper, with a US$2b investment in Lumwana in Zambia. Strandline (STA) then give us some talking points with a better update, plus we speculate on Base Resources (BSE) interest in them. Red5 (RED) had some more good news as they look to continue a good run, and the same went for Pantoro (PNR) who had a “record” quarter. Matty went deep on Tietto (TIE) who officially came out with their updated mine life plan for the Adujar gold project. We rounded off with a quick word on BHP’s asset sale and Gina’s growing Liontown (LTR) stake. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:39) Intro(3:17) Barrick going big on copper(6:34) Red5’s robust quarter(9:41) Strandline give a positive update(12:16) Base Resources with cash in the bank(14:39) Pantoro finally break some good news(20:18) Matty goes deep on Tietto(34:45) BHP assets coals go quiet(35:50) Gina, come on Money of Mine!

We started today with Trav filling us in on London’s mining community then chatted briefly about how the macro world is impacting miners.Genesis (GMD) gave their first real update on Gwalia’s performance post-acquisition, followed by Dacian (DCN) getting the go-ahead to mine at Redcliffe.We chatted through IGO’s view on a potential supply chat for nickel emerging as well as Agrimin (AMN) terminating its deal to scoop up Kalium Lakes’ assets.Lastly, we touched on Mangis (MNS) and Leo Lithium (LLL) both putting themselves in the ASX’s bad books for varying reasons.All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners:Terra Capital – Specialist Investment manager in the natural resources sectorAnytime Exploration Services – Exploration workers, equipment, core cutting/storage + much moreJP Search – Recruitment specialists for the financial worldK-Drill – Safe, reliable, and productive surface RC drillingSMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTubeFollow Money of Mine on TwitterFollow Money of Mine on LinkedInFollow Money of Mine on Instagram Chapters:(0:00) Preview(0:31) Intro(3:22) Trav’s back from London(6:21) The macro world impacting miners(10:53) Genesis’ first Gwalia update(16:27) Dacian’s Redcliffe gets the go ahead(19:56) The impending nickel supply deficit(28:09) Agrimin terminates deal to buy Kalium Lakes(34:11) LLL & MNS in the ASX’s bad books

We’ve got a special technical chat for the Money Miners with Rob “Refractory” Ryan coming onboard. We run through all the ins and outs of what refractory ore is, what it means for a project, how investors should think about it, what it does to the capex & opex, plus a bunch of real world operations that’ve had to deal with this type of mineralisation. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector An5ytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps: (0:00) Preview(0:54) Intro(4:26) What is refractory ore + more definitions(8:29) Different refractory mines in Australia and around the world(14:17) What are the different mineralogies(17:26) What are the different processing techniques(28:40) The failures at Wiluna(35:40) Are there many other failed attempts?(39:41) Where has Preg Robbing been an issue?(42:00) Fosterville refractory processing(45:57) What does it mean for the opex(49:15) What happens to the capex?(51:35) Why do KCGM ultra-fine grind rather than Roast/POX?(56:45) What does it mean for De Grey?(1:00:09) Getting to gold (and copper) concentrates(1:04:07) Cost of shipping concentrate around the world

No quiet Friday at Money of Mine with plenty of news from the world of mining to chat about today. We launched into MinRes (MIN) upping the stakes, now raising US$1.1B in a bond offering to global investors. Liontown (LTR) updated the market with a poorly kept secret that the capex bill had jumped, plus news that DSO was no longer on the cards. The ACG Acquisition Co SPAC revealed that its deal to buy 2 Brazilian mines from Appian was no more while Lithium Power (LPI) responded to media speculation regarding a potential transaction with Chilean state-owned copper giant Codelco. IsoEnergy & Consolidated Uranium decided they’d get together in a Canadian uranium merger as well as Sovereign (SVM) sharing (yesterday) its PFS for its rutile and graphite project in Malawi. To round off a big week Core Lithium (CXO) provided a much needed positive update and figures from its first financial year as a producer. All Money of Mine episodes are for informational purposes only and may contain forward-looking statements that may not eventuate. The co-hosts are not financial advisers and any views expressed are their opinion only. Please do your own research before making any investment decision or alternatively seek advice from a registered financial professional. Thank you to our Podcast Partners: Terra Capital – Specialist Investment manager in the natural resources sector Anytime Exploration Services – Exploration workers, equipment, core cutting/storage + much more JP Search – Recruitment specialists for the financial world K-Drill – Safe, reliable, and productive surface RC drilling SMEC Power & Technology – Electrical specialists for the mining industry Join our exclusive Facebook Group for the Money Miners and request access to the Hooteroo chat group. Subscribe to our weekly newsletter HOOTEROO HERALD Follow Money of Mine on YouTube Follow Money of Mine on Twitter Follow Money of Mine on LinkedIn Follow Money of Mine on Instagram Timestamps:(0:00) Preview(0:35) Intro(1:59) MinRes upping the stakes(7:22) Liontown capex jumps(14:26) ACG SPAC deal falls through(16:41) Lithium Power jumping on media speculation(19:51) IsoEnergy & Consolidated Uranium getting together(23:10) Sovereign PFS for BIG Malawian mine(26:23) Core Lithium finally share good news