PREDICTIVE DISCOVERY LIMITED — Interim / Quarterly Report 2023

Oct 27, 2022

28 October 2022

QUARTERLY ACTIVITIES REPORT FOR PERIOD ENDING 30 SEPTEMBER 2022

Predictive Discovery Limited (ASX:PDI) (“Predictive” or the “Company”) is pleased to provide an update on activities undertaken during the quarter to 30 September 2022.

HIGHLIGHTS

Bankan Project

• Bankan Project global Mineral Resource estimate increased to 79.5Mt @ 1.63 g/t Au for 4.2Moz Au (Inferred), continuing to position the Project as the largest gold discovery in West Africa in more than a decade. The NE Bankan Mineral Resource estimate increased by 18% to 3.9Moz Au and the Bankan Creek estimate remained unchanged at 331,000oz Au.[ 1]

• The updated estimate includes an initial high-grade underground Mineral Resource directly below the NE Bankan optimised pit shell of 283,938 tonnes @ 4.85 g/t Au for 44,000 ounces.[1] The underground resource excludes a number of intercepts down-plunge including the deepest diamond hole (BNERD0113), which intersected 24m @ 5.5 g/t Au from 850m,[2] approximately 375m downplunge of the 3.9Moz optimised pit shell.

• Extensive drilling program ongoing, with 10 drill rigs in operation conducting various resource development and exploration programs across the Project. During the quarter, results were announced for 1,347 holes for 55,608m drilled , including 7,086m of diamond drilling and 14,308m of reverse circulation (‘RC’) drilling at the NE Bankan deposit.

• Diamond drilling at NE Bankan is targeting the plunge extension of the high-grade shoot and upgrading the Mineral Resource classification to Indicated. Diamond hole BNEDD0129W2, drilled 225m down-plunge of the optimised pit shell , intersected 30.52m @ 3.55 g/t Au linking with the deepest intercept to date (375m down-plunge from the optimised pit shell). This hole also intersected 16m @ 6.14 g/t Au on a new second, high-grade footwall shear zone, opening up multiple lode potential at depth.[3]

• Dedicated 10m x 10m angled RC grade control program continued at NE Bankan to determine the drill spacing required to convert the Mineral Resource to Indicated and provide input into the Scoping Study currently underway. Standout results included 49m @ 2.12 g/t Au , 27m @ 4.51 g/t Au and 93m @ 1.35 g/t Au .[3,4]

1ASX Announcement – 4.2Moz Bankan Gold Resource (2 August 2022).

2ASX Announcement – Deepest hole to date intercepts gold 630m down dip of 3.65Moz Resource pit shell (15 June 2022). 3ASX announcement – High grade gold 200m below NE Bankan 3.9moz resource (29 September 2022).

4ASX announcement – Impressive gold hits continue from 4.2moz Bankan Gold Project (25 August 2022).

Predictive Discovery Limited ABN 11 127 171 877 Suite 8, 110 Hay Street, Subiaco WA 6008 T +61 8 9216 1020

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• Extensive aircore and power auger drilling is targeting mineralised prospects within 3km of NE Bankan that have potential to become feeder deposits. Best results included 10m @ 10.53 g/t Au from NEB Footwall, 24m @ 1.92 g/t Au from 800W South, 10m @ 4.34 g/t Au from Main Contact Anomaly and 20m @ 1.34 g/t Au from NEB South.[3]

ESG

• Baseline environmental studies continued, including stakeholder mapping and engagement, protected area assessment, critical habitat assessment and dry & wet season surveys.

• Critical Resource, a leading global environmental firm based in London, continued to assist with the development of a biodiversity management program.

• Predictive’s ESG activities will be an important component of the comprehensive Scoping Study which is now underway and planned to be completed in the second half of 2023.

Corporate

• Share Purchase Plan and Tranche 2 of the $55m Placement (which was subject to shareholder approval received in July 2022) completed during the quarter, raising gross proceeds of approximately $20.3m.

• Predictive had $49.9m in cash and no debt as at 30 September 2022, and is well funded to continue with its aggressive drilling programs, baseline environmental studies and associated ESG workstreams, and Scoping Study activities.

December 2022 Quarter Planned Activities

• Continue the current 60,000-metre diamond and RC drilling program focused on infilling and expanding the NE Bankan deposit.

• Continue aircore and power auger drilling at near-mine targets. Progress drilling northwards along the 35km-long structural corridor to generate additional regional targets.

• Advance baseline environmental studies, development of the biodiversity management plan and other ESG-related activities.

• Progress Scoping Study activities with support from the Company’s independent consultants, CSA Global.

BANKAN PROJECT

The Bankan gold camp is situated in north-east Guinea in West Africa. The project is 550km by road from Guinea’s capital Conakry within the region of Upper Guinea and is 10km west of the regional administrative centre of Kouroussa. The Bankan Project covers 356km[2] in four exploration permits, Kaninko, Saman, Bokoro and Argo. Three permits are held by wholly owned subsidiaries of Predictive and the Argo permit is held in joint venture, with Predictive having the right to acquire 100% at a decision-to-mine.

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In early 2020, Predictive discovered the NE Bankan and Bankan Creek deposits on the Kaninko permit, with NE Bankan recognised as the largest gold discovery in West Africa in more than a decade. Having defined a Mineral Resource of over 4.2Moz Au at Bankan in just two years, the focus is to significantly grow the size and quality of the resource over the next 12 months, and advance the Project towards the development phase of its lifecycle.

Updated Mineral Resource Estimate

During the quarter, Predictive announced an updated Mineral Resource estimate for the Bankan Project. The global Inferred Mineral Resource now stands at 79.5Mt @ 1.63 g/t Au for 4.2Moz Au across the NE Bankan and Bankan Creek deposits, as shown in the table below. The estimate was prepared by independent consultants, CSA Global Mining Industry Consultants in accordance with the JORC Code (2012).

Table 1: Bankan Project Updated Mineral Resource Estimate

Deposit	Classification	Tonnes (Mt)	Grade (g/t Au)	Contained (‘000 ounces Au)
NE Bankan	Inferred	72.3	1.65	3,884
Bankan Creek	Inferred	7.2	1.43	331
Total Bankan Project	Inferred	79.5	1.63	4,215

Note: refer to ASX announcement “4.2Moz Bankan Gold Resource” re-released on 2 August 2022 for further details.

The NE Bankan deposit increased by 569,000 ounces, from 3.3Moz to 3.9Moz an 18% increase in Inferred Mineral Resource. Grade increased to 1.65 g/t Au (previously 1.57 g/t Au) driven by the high-grade zone returning an average grade of 6.59 g/t Au.

The estimate includes an initial high-grade underground Inferred Mineral Resource directly below the optimised pit shell of 283,938 tonnes @ 4.85 g/t for 44,000 ounces. The underground resource excludes a number of intercepts down-plunge including the deepest diamond hole (BNERD0113), which intersected 24m @ 5.5 g/t Au from 850m, approximately 375m down-plunge of the optimised pit shell.

The Bankan Creek Mineral Resource estimate remains unchanged from the maiden estimate reported on 30 September 2021.

Ongoing Drilling Program

An extensive drilling program is ongoing at the Bankan Project. There are currently 10 active drill rigs on site with four diamond (‘DD’), two multipurpose diamond/reverse circulation (‘DD/RC’), one RC, one aircore (‘AC’) and two power auger (‘AG’) drill rigs, all conducting various resource development and exploration programs across the Project.

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During the quarter, drilling results were announced for a total of 1,347 holes for 55,068m as follows:

Table 2: September 2022 Quarter Drilling

**Drill type **	Holes	Metres	Locality
DD	14 holes	7,086m	NE Bankan
RC	150 holes	14,308m	NE Bankan
AC	109 holes	5,312m	<3km NE Bankan
AG	1,074 holes	28,362m	<3km NE Bankan
Total	1,347 holes	55,068m

NE Bankan Drilling Results

Diamond drilling at NE Bankan is targeting the plunge extension of the high-grade shoot and upgrading the Mineral Resource classification to Indicated. Only three of the DD holes announced during the quarter were included in the recent Mineral Resource update (BNEDD0117, 118 and 119A), with the remaining 11 DD holes to be included in the next update.

DD hole BNEDD0129W2 intersected 30.52m @ 3.55 g/t Au from 723m including 9m @ 7.98 g/t Au on the current Mineral Resource hanging-wall shear zone (STMZ) and 16m @ 6.14 g/t Au on a new second, footwall high-grade shear zone (ST3Z).

This hole links on-plunge the deepest intercept to date in BNEDD0113 of 24m @ 5.5 g/t Au including 11m @ 10.3 g/t Au, with the deepest intercept in the latest Mineral Resource estimate in BNEDD0119A of 30m @ 3.43 g/t Au including 11m @ 6.22 g/t Au.

The ST3Z structure may not have been intercepted by BNEDD0113, opening up multiple lode potential at depth within the plunging high-grade shoot. DD hole BNEDD0129W2 intercepts lie 225m down-plunge from the current US$1,800/oz optimised pit shell, with BNEDD0113 situated 375m down-plunge.

Other diamond drill holes reported during the quarter were targeting the edge of the high grade (+150 gramme metre) tongue, incrementally expanding the high-grade resource, adding high quality ounces within and below the pit. The intercept of 22.8m @ 3.52 g/t Au in hole BNEDD0132 pushes the southern limit of the +150 gramme metre solid a further 40m southwards.

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Figure 1: NE Bankan long section view, showing BNEDD0129W2 (red callout) which intersected gold mineralisation 225m down-plunge of the 3.9Moz Resource pit shell andBNERD0113 (blue callout) 375m down-plunge.

The dedicated 10m x 10m RC grade control program at NE Bankan continued, investigating the shortrange variability of the high-grade mineralisation within the upper fresh and oxide horizons of the main shoot. The results from this drill program will be used to determine the drill spacing required to convert the current Inferred Mineral Resource to the Indicated category and provide input into the scoping study now underway.

A selection of better results from the 150 RC holes reported during the quarter include:

• BNERC0093: 25m @ 2.54 g/t Au from 7m, incl. 2m @ 17.2 g/t Au from 11m 10m @ 1.57 g/t Au from 60m • BNERC095A: 49m @ 2.12 g/t Au from 6m • BNERC0105: 30m @ 2.24 g/t Au from 4m, incl. 4m @ 6.8 g/t Au from 24m • BNERC0108: 24m @ 3.18 g/t Au from 36m, incl. 5m @ 6.88 g/t Au from 43m

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• BNERC0111: 25m @ 4.21 g/t Au from 5m, incl. 1m @ 13.8 g/t Au from 21m, and 4m @ 18.4 g/t Au from 26m 3m @ 4.05 g/t Au from 49m 8m @ 6.46 g/t Au from 68m, incl. 4m @ 11.96 g/t Au from 70m

• BNERC0124: 29m @ 3.53 g/t Au from 4m, incl. 8m @ 9.23 g/t Au from 16m 14m @ 2.9 g/t Au from 67m

• BNERC0135: 93m @ 1.35 g/t Au from 9m, incl. 8m @ 3.93 g/t Au from 30m

• • BNERC0147: 29m @ 3.84 g/t Au from 16m, incl. 5m @ 11.67 g/t Au from 20m

• • BNERC0162: 42m @ 2.17 g/t Au from 5m, incl. 4m @ 11.38 g/t Au from 31m

• • BNERC0209: 28m @ 3.31 g/t Au from 33m • BNERC0241: 45m @ 2.31 g/t Au from 2m • BNERC0245: 27m @ 4.51 g/t Au from 8m • BNERC0246: 18m @ 4.98 g/t Au from 33m

Regional and Near-Mine Drilling Results

Aircore drilling focused on the 800W, NEB South and NEB North prospect areas with 109 shallow AC holes (BKAC0278-BKAC386) totalling 5,312 metres.

The 800W prospect has a 250m core of oxide mineralisation located just to the north-west of NE Bankan. Several significant intercepts were reported during the quarter, including 50m @ 0.58 g/t Au, 12m @ 1.24 g/t Au and 14m @ 0.96 g/t Au, with this second phase of aircore drilling reorientated 160-340°, orthogonal to the interpreted NE070° strike of the 800W mineralised structures.

Recent aircore and infill auger results from NEB South reinforce the anomalism associated with the interpreted southern strike extension of the NE Bankan fault system. The best result was 20m @ 1.34 g/t Au.

The NEB North prospect is located 600m north on strike from the last drill section from NE Bankan. Recent aircore results confirm the presence of the NE Bankan-style mineralisation on exactly the same structural setting within the tonalite. Significant intercepts include 14m @ 1.67 g/t Au and 8m @ 1.38 g/t Au.

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Figure 2: NE Bankan, summary plan of the latest aircore results from near-mine exploration, overlain aeromagnetic survey – Bankan Creek pitshell is also shown 3km to the west.

Power auger drilling reported during the quarter captured 1,074 holes for 28,362m, focused on the main prospects between the NE Bankan and Bankan Creek deposits and investigating the prospectivity of the NE Bankan Footwall (NEB FW). Other prospects targeted were NEB South, NEB West, 800W, NEB North, Bankan Creek East and the newly developing Main Contact Anomaly (formerly referred to as Bankan Creek North).

The most significant power auger results reported include (see Figure 3 below):

NEB FW

• BKAU3295: 10m @ 10.53 g/t Au from 18m

• • BKAU2596: 24m @ 1.92 g/t Au from 4m

800W South

Main Contact Anomaly

• BKAU2657: 10m @ 4.34 g/t Au from 20m

Bankan Creek East

• BKAU3172: 10m @ 1.33 g/t Au from 4m

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Figure 3: A summary plan of the latest auger results from Bankan Exploration.

CORPORATE

General Meeting of Shareholders

A General Meeting of shareholders was held on 18 July 2022, with resolutions seeking to ratify the issue of tranche 1 of the $55m Placement, approve the issue of tranche 2 of the Placement, approve the issue of Director Securities and approve a replacement constitution of the Company. All resolutions were passed at the meeting.

Completion of Placement and Share Purchase Plan

Predictive undertook a Share Purchase Plan (‘SPP’) in conjunction with the $55m Placement, providing all shareholders with an opportunity to participate in the equity raising activities of the Company. The SPP was completed in early July 2022, with $2.9m raised.

Tranche 1 of the $55m Placement competed in the June 2022 quarter, raising $37.6m of gross proceeds.[5] Tranche 2 of the Placement was subject to shareholder approval and completed in July 2022 following the General Meeting, raising gross proceeds of $17.4m.

5 Includes $0.5m related to tranche 2 which was received by the Company in the June 2022 quarter.

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Financial Position

As at 30 September 2022, the Company held $49.9m in available cash with no debt.

Expenditure on Mining Exploration Activities

In accordance with ASX Listing Rule 5.3.1, the Company advises its exploration and evaluation expenditure during the September 2022 quarter totalled $11.5m included at item 2.1(d) of the Appendix 5B. This includes $6.2m for drilling and $5.3m in associated geology, assaying and other exploration-related costs.

There were no substantive mining production and development activities during the quarter.

Payments to Related Parties and their Associates

In accordance with ASX Listing Rule 5.3.5, payments to related parties of the Company and their associates during the quarter was approximately $148,000 including GST. The Company advises that this relates to Directors’ fees, salaries and reimbursements.

Capital Structure

Predictive currently has 1,708,701,542 fully paid ordinary shares on issue and 73,263,913 listed options (PDIOA) and 77,085,802 unlisted options on issue at various exercise prices and expiry dates.

- END -

This announcement is authorised for release by Predictive Managing Director, Andrew Pardey.

For further information visit our website at www.predictivediscovery.com or contact:

Investor Enquiries	Media Enquiries
Brad Milne	Bobby Morse/George Cleary
Corporate Development Manager	Buchanan
E: brad.milne@predictivediscovery.com	E: predictive@buchanan.uk.com
P: +61 8 9216 1000	P: +44 (0) 20 7466 5000

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COMPLIANCE STATEMENT

This Quarterly Activities Report contains information extracted from ASX 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) of exploration results and mineral resource estimates referred to in this Quarterly Activities Report can be found in the following announcements lodged on the ASX and available to view on the Company’s website under the Investors tab:

Announcement	Date
4.2Moz Bankan Gold Resource	2-Aug-22
Impressive Gold Hits Continue at 4.2Moz Bankan Gold Project	25-Aug-22
High Grade Gold 200m below NE Bankan 3.9Moz Resource	29-Sep-22

Predictive advises that it is not aware of any new information or data that materially affects the exploration results or mineral resource estimate contained in this Quarterly Activities Report and all material assumptions and technical parameters underpinning the mineral resource estimate continue to apply and have not materially changed.

TENEMENT STATUS AS AT 30 SEPTEMBER 2022

	Name	Number	Location	Area (sq. km)	PDI equity	Change in equity
	Kalinga	Arrêté 2022- 015/MCE/SG/DGMGC (renewed)	Burkina Faso	180	100%	Nil
	Tambifwanou	Arrêté 2020- 310/MCE/SG/DGMGC	Burkina Faso	136	100%	Nil
	Bongou	Arrêté 2020- 311/MCE/SG/DGMGC	Burkina Faso	167	100%	Nil
	Bira Nord	Arrêté 2020- 248/MCE/SG/DGMGC	Burkina Faso	10	100%	Nil
	Basieri	Arrêté 2017- 133/MCE/SG/DGMGC	Burkina Faso	73	100%	Nil
	Haoura	Arrêté 2018- 232/MCE/SG/DGMGC	Burkina Faso	42	100%	Renewal in progress
	Boundiali	Mining exploration permit No. 414	Cote D'Ivoire	299	11%	Nil
	Boundiali North	Mining exploration permit	Cote D'Ivoire	350	Predictive CI earning 90%. PDI holds 11% of Predictive CI	Nil
	Wendene	Mining exploration permit No. 572	Cote D'Ivoire	400	0% (rights to bonus payments on production)	Nil
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Name	Number	Location	Area (sq. km)	PDI equity	Change in equity
Dabakala	Mining exploration permit application	Cote D'Ivoire	400	0% (rights to bonus payments on production)	Nil
Beriaboukro (Toumodi)	Mining exploration permit No. 464	Cote D'Ivoire	400	Predictive CI can earn 85% in the permit. PDI holds 11% of Predictive CI	Nil
Ferkessedougou North	Mining exploration permit No. 367	Cote D'Ivoire	400	Predictive CI can earn 85% in the permit. PDI holds 11% of Predictive CI	Nil
Bocanda North	Mining exploration permit No. 844	Cote D'Ivoire	368	Predictive 100% (Wia Gold Ltd earning 80%)	Nil
Issia	Mining exploration permit	Cote D'Ivoire	400	Predictive 100% (Wia Gold Ltd earning 80%)	Nil
Nonta	Exploration Permit	Guinea	100	Predictive 100%	Nil
Kankan	Exploration Permit	Guinea	100	Predictive 100%	Nil
Kaninko	Exploration Permit	Guinea	98	Predictive 100%	Nil
Saman	Exploration Permit	Guinea	100	Predictive 100%	Nil
Bokoro	Exploration Permit	Guinea	100	Predictive 100%	Nil
Argo	Exploration Permit	Guinea	58	Predictive – right to earn 90% during the exploration phase and acquire 100% on a decision to mine	Nil
Koundian 1	Exploration Permit	Guinea	85	Predictive – right to earn 90% during the exploration phase and acquire 100% on a decision to mine	Nil
Koundian 2	Exploration Permit	Guinea	100		Nil
Koundian 3	Exploration Permit	Guinea	63		Nil
Koundian 4	Exploration Permit	Guinea	55		Nil
Cape Clear	EL 5434	Victoria, Australia	63	Predictive 12.5% but will reduce eventually to 5%	Nil

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Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity

PREDICTIVE DISCOVERY LTD ABN Quarter ended (“current quarter”) 11 127 171 877 30 September 2022

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 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 (BAS Refund) 1.9 Net cash from / (used in) operating activities	- - - - (1,153) 122 (1) - - 112	- - - - (1,153) 122 (1) - - 112
	(920)	(920)
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets	- - (365) (11,480) - -	- - (365) (11,480) - -

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	Current quarter $A’000	Year to date (3 months) $A’000
2.2 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 (provide details if material) 2.6 Net cash from / (used in) investing activities	- - - - - - - (104)	- - - - - - - (104)
	(11,949)	(11,949)
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 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 3.10 Net cash from / (used in) financing activities	20,282 - 158 (952) - - - - -	20,282 - 158 (952) - - - - -
	19,488	19,488
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above)	42,035 (920) (11,949)	42,035 (920) (11,949)

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	Current quarter $A’000	Year to date (3 months) $A’000
4.4 Net cash from / (used in) financing activities (item 3.10 above) 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period	19,488 1,207	19,488 1,207
	49,861	49,861
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	49,831 30 - -	49,831 30 - -
	49,861	49,861
6. Payments to related parties of the entity and their associates		Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 148 6.2 Aggregate amount of payments to related parties and their associates included in item 2 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. $127K in director fees (including GST ($4K);Director Expense claim reimbursement $21K		148

.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 3

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7. 7.1 7.2 7.3 7.4 7.5 7.6	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 Loan facilities - - Credit standby arrangements - - Other (please specify) - - Total financing facilities - - Unused financing facilities available at quarter end - Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
		-	-
		-	-
		-	-
		-	-
8.	Estimated cash available for future operating activities		$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) (920) (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (11,480) Total relevant outgoings (item 8.1 + item 8.2) (12,400) Cash and cash equivalents at quarter end (item 4.6) 49,861 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.4 + item 8.5) 49,861 Estimated quarters of funding available (item 8.6 divided by item 8.3) 4.0 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 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?		(920) (11,480) (12,400) 49,861 -
			49,861
	Answer: N/A
	8.8.2 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: N/A

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: N/A

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: ..28 October 2022.............

Authorised by: ....The Board....

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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