Announcement PDF ACN 612 008 358 CONSOLIDATED FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2021 TEMPEST MINERALS LTD ACN 612 008 358 Phone: +61 8 9200 0435 Fax: +61 8 9380 6761 Address: Level 2, Suite 9 389 Oxford Street, Mount Hawthorn WA 6016 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Contents Cautionary Statements 2 Corporate Information 3 Letter from the Chairman 4 Review of Operations 5 Directors’ Report 25 Auditor’s Independence Declaration 37 Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Year Ended 30 June 2021 38 Consolidated Statement of Financial Position as at 30 June 2021 39 Consolidated Statement of Changes In Equity for the Year Ended 30 June 2021 40 Consolidated Statement of Cash Flows for the Year Ended 30 June 2021 41 Notes to the Consolidated Financial Statements for the Year Ended 30 June 2021 42 Directors’ Declaration 68 Independent Auditor’s Report 69 Shareholder Information 73 Interests in Tenements 75 Page 1 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Cautionary Statements Forward-looking statements This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company’s control. Actual events or results may differ materially from the events or results expected or implied in any forward-looking statement. The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward-looking statements will be or are likely to be fulfilled. Tempest Minerals Ltd undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this document (subject to securities exchange disclosure requirements). The information in this document does not take into account the objectives, financial situation or particular needs of any person or organisation. Nothing contained in this document constitutes investment, legal, tax or other advice. Competent Person Statement The information in this report that relates to Exploration Results is based on, and fairly represents information compiled by Mr Don Smith, a Competent Person who is a member of AusIMM and the Australian Institute of Geoscientists (AIG). Mr Smith is the Managing Director of the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”. Mr Smith consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Information relating to Previous Disclosure This report contains information extracted from previous ASX market announcements reported in accordance with the 2012 JORC Code and is available for viewing at www.tempestminerals.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in these earlier market announcements. The Company confirms that the form and context in which the competent persons findings have not been materially modified from these earlier market announcements. Page 2 TEMPEST MINERALS LTD - ACN 612 008 358 Corporate Information Directors and Company Secretary Brian Moller (Non-Executive Chairman) Don Smith (Managing Director) Vincent Mascolo (Non-executive Director) Andrew Haythorpe (Non-executive Director) Owen Burchell (Non-Executive Director) Paul Jurman (Company Secretary) Head Office and Registered Office Tempest Minerals Ltd Level 2, Suite 9 389 Oxford Street Mt Hawthorn, WA 6016 Tel: +61 8 9200 0435 www.tempestminerals.com Auditors HLB Mann Judd (WA Partnership) Level 4, 130 Stirling Street Perth WA 6000 Share Registry Automic Pty Ltd Level 5, 126 Phillip Street Sydney NSW 2000 Tel: 1300 288 664 www.automicgroup.com.au Stock Exchange Listing Australian Securities Exchange Ltd ASX Code: TEM Australian Company Number 612 008 358 Solicitor HopgoodGanim Lawyers Level 8, Waterfront Place 1 Eagle Street Brisbane QLD 4000 Tel: +61 7 3024 0000 Fax: +61 7 3024 0300 www.hopgoodganim.com.au Page 3 ANNUAL REPORT 2021 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Letter from the Chairman Dear Shareholder On behalf of the Board of Directors of Tempest Minerals Ltd (Tempest or the Company), I take pleasure in presenting the Annual Report for 2021. Despite the continuation of the challenges provided by the ongoing coronavirus pandemic, Tempest has had a busy year and been able to advance work on its key projects. At Yalgoo, it has identified new exploration targets generated from regional datasets exclusive to Tempest and drilling is planned for FY2021-22. We are excited to be quickly approaching drilling at our Euro Project. Ongoing fieldwork continues to uncover geology prospective for both gold, base metals and iron ore in an environment known for world class deposits including 4 major mining projects within 5km. Work at Euro has identified the presence of iron rich geology mapped during reconnaissance field work with an additional 45 outcrops of similar iron rich geology in the south and central parts of the Euro Project which has extended the overall potential strike length to over 20 kilometres. At Meleya, a deal of data analyses and modelling work has been undertaken, with numerous drill targets identified. We consider Meleya to be one of the most exciting exploration targets in Australia today and numerous drill targets are planned to be tested from Q4 2021 along strike from World Class CopperZinc-Lead-Gold-Silver VMS deposit Golden Grove, based upon strong geophysical and geochemical signatures. At War West, exploration work resulted in new gold bearing veins being discovered at Wee Lode. Geochemistry study work is in progress and further drilling is planned. At Messenger, Tempest completed some 2,100m of drilling at the Dally and Wally Targets confirming the presence of significant gold in many holes and the prospectivity of the project. At Mt Magnet Target zones at Range to be drill tested across the next 18 months. New geological models for the region include Intrusion Related Gold which further increases the prospectivity of the area. The Company was pleased to announce completion of a placement raising $391,000 in late August 2021 to be followed by an Entitlement Offer to raise a further approximately $1.252 million, which is expected to close in October 2021. Proceeds therefrom will be applied to fund exploration programs over the next 6-12 months at the WA projects. I would like to extend my thanks to the Company’s Managing Director Mr Don Smith, my fellow Directors and the management team for their ongoing efforts in advancing the Company’s projects and look forward to being able to update all shareholders with the progress on exploration of our projects over the course of the coming year. On behalf of the Board, I thank you for your continued support and look forward to bringing you further news as our exploration efforts continue. Yours faithfully Brian Moller Chairman Page 4 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Overview • • • Ongoing exploration work Several drilling programs Discoveries Projects Since the acquisition of Warrigal Mining Pty Ltd in 2019 <ASX announcement 13 December 2019> Tempest Minerals Ltd (‘TEM’, ‘Tempest’, ‘the Company’) has been actively exploring the Company’s Western Australian portfolio. Technical points: ● 2 drill programs ● 100% success rate discovering new mineralisation ● Gold discovery at 2 projects ● New greenstone belt ● Extension of tenure ● Presence of Iron ● New Euro targets Figure 1: Project locations Page 5 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Yalgoo Meleya Project Background The Meleya Project comprises 413km2 (210km2 granted and 203km2 pending) including >50km strike length of previously unrecognised greenstones and volcanics of the Yalgoo Foldbelt which are a continuation of the same geology as the World Class Copper-Zinc-Lead-Gold-Silver VMS deposit Golden Grove and >1MOz Golden Dragon Minjar operations. This previously unexplored sequence wraps around the gold bearing Walganna intermediate intrusive suite and includes large exposures of outcropping rocks mapped geologically and geochemically as both metal bearing and highly prospective for hosting significant orogenic gold and Volcanogenic Massive Sulphide (VMS) deposits. Activities In response to regional geological study and landholder changes, Tempest increased its tenure at the Meleya Project from 210km2 to 413km2 (+100%) to include several areas of prospectivity. Using high resolution regional magnetic data acquired by Tempest in 2020, a structural interpretation model of the project was completed with numerous large-scale structures typical of those found associated with major orebodies were observed. These have contributed to a number of exploration targets being generated. Figure 2: Total Magnetic Intensity image of the Meleya Zone with structural model and new targets Page 6 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Wide spaced surface sampling programs completed in early 2020 yielded multiple anomalies. Several of these areas of interest were infilled to circa 250m spaced sampling and several of these were found to coincide with zones of interpreted structural complexity. Figure 3: Total Magnetic Intensity image of the Meleya Zone Orion target with arsenic geochemistry A number of select surface samples were analysed using high quality full digestion, fused bead LAICPMS and XRF methods. These were further scrutinized with advanced geochemical ‘fingerprinting’ techniques including chondrite normalised immobile element trace plots and fertility indicators. The majority of samples received, further demonstrated the overwhelming prospectivity of the project by plotting within the ‘F-II / F-IIIa / F-IV’ fertility fields - which is a key requirement for enabling economically viable archaean VMS deposits in Australia and worldwide (including Golden Grove – figure 5 & 6). Page 7 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Figure 4: Warriedar geology map with distribution of CHI4 index data Page 8 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Figure 5: Comparable host rock geochemistry between Golden Grove and Meleya (a-b immobile element plots, c-d normalised chondrite trace element plots) Figure 6: Plot of La/Yb vs Yb as proxy for fertility receptor for VMS (F1 Purple being non-fertile) Page 9 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Euro Project Background The Euro Project covers more than 176km2 of 100% Tempest owned tenements in the Yalgoo region of Western Australia. The project represents a significant section of the Yalgoo Greenstone belt. Parts of the project were explored in the 1990’s and early 2000’s for gold and iron ore, with drilling occurring in the North of the project area encountering significant gold mineralisation but due to depressed metal prices, were not considered priority at the time and not followed up. The Euro Project is wedged between 4 current major operations: Karara (Iron), Shine (Iron), Mt Mulgine (Gold/Tungsten) and Rothsay (Gold/Copper) and share the same geology. Yet despite this, much of the project remains largely unexplored and highly prospective for a number of commodities. Activities Work completed during the reporting period include data compilation and analysis, geological interpretation and reconnaissance fieldwork. Figure 7: Euro Project overview New geological interpretations confirm the presence of significant structural complexity with heavily folded, large open folds showing an axial planar orientation roughly NW-SE in association with vestiges of a second phase of refolding striking N-S. The former generation of fold axial planes are host to intense shearing visible both on local and regional scales and appears relevant to hosting both the gold discovered in the N-E of the Euro Project and potentially the Rothsay Mine itself. Page 10 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Using large data sets including Tempests’ exclusive magnetic geophysical models, the company has identified significant prospectivity at the Euro Project much greater than previously recognised and clear stratigraphic and alteration trends linking known mineralisation to areas of little or no exploration. Figure 8: Euro Project new Kiev target area identified from magnetics Calais Target: Shallow drilling (mostly (<50m) RAB holes) conducted in the late 90’s and early 2000’s by Aztec, Normandy Gindalbie and others for basement geochemical analysis were concentrated in one small area in the central western apex of the major fold hinge. A number of these early holes intersected appreciable levels of near surface gold which were not considered a priority at the time due to depressed metal prices. This drilling is open in all directions and indicate the Calais target may represent a much larger overall mineralised zone. Kiev Target: NW-SE striking structures may be part of a larger fold and shear complex which formed the ‘heart shaped’ greenstone sequence that now separates the Kiev target with its distinct demagnetised zone similar to the Rothsay deposit. Page 11 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Initial fieldwork at the Euro Project has uncovered the presence of iron rich formations throughout the project. Although exploration on the project into this target type is in its infancy, Tempest considers the presence of large strikes of this iron rich stratigraphy outcropping with comparable geology to the proximal multiple large scale (multi-billion tonne) iron ore production centres to be highly encouraging and ripe for potential additional iron ore sources. Figure 9: Outcropping iron formations at the Euro Project Page 12 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations War West Project Background 123km2 of granted tenure with multiple known gold occurrences and sits within 20km of two milling and processing facilities. The War West Project is interpreted by Tempest to host a significant Intrusive Related Gold System (IRGS). Recent high-profile discoveries such as De Grey Mining Ltd’s (ASX: DEG) Hemi Deposit have spotlighted the potential of this lesser known mineralisation style in Western Australia. The War West Project is exemplified by a large 15km x 3km highly altered zone of intermediate composition intrusive known as the Walganna Suite which in turn flanked and underlain by greenstones and volcanics and. The project is highlighted further by large scale multiple indicator geochemical anomalies within the altered zone with high grade vein rock chips, frequent visible gold and significant alluvial and artisanal hard rock gold mining within the project bounds. Figure 10: War West schematic geological overview with 2020 drill targets Page 13 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Activities Tempest continued field work at the War West Project after a short pause while assessing and responding to impacts of the emergence of Covid-19 in early 2020. Activities included geological mapping, surface geochemistry sampling and drilling. An initial reconnaissance drilling program was completed to test several areas within the northern portion of the Warriedar West Project. These areas contain previously announced surface anomalies including 8gpt gold from rock chip sampling. Widespread gold was intersected at the OK Corral target at surface to shallow subsurface zones interpreted as silica rich cap to the Walganna Suite and showing the potential for large scale bulk tonnage style mineralisation at the project. Figure 11: War West schematic geological overview with 2020 drill targets Drilling at the Wee Lode target concentrated on several target areas of shallow, outcropping zones of highly altered silica rich intrusive cap and known quartz lodes and intersected similarly wide spaced shallow gold with a maximum 1m @ 5gpt gold as part of several metres of weathered mineralized quartz vein in hole 13. This mineralized lode extends the continuity of the outcropping vein down-dip, however, the mineralization remains open in all directions. Page 14 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Figure 12: WARDH0013 Sample trays (wet and dry) with key intercepts highlighted in red Figure 13: Simplified Cross section through WARD0013 Further drilling at the Clementine target yielded further mineralised laterite and quartz lode intercepts, however with the geologically important discovery of greenstone stratigraphy underlying the Walganna suite within 10 metres of the surface. Previous geophysical modelling and geological survey interpretations have shown the Walganna Suite as likely to exist as a mushroom diapir. This drilling program confirmed this geometry for the first time. This is particularly relevant as (contrary to historical depiction) the Walganna Suite is extremely thin within kilometres of its periphery and therefore unbridles enormous potential for shallow ‘under cover’ discoveries. Page 15 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Figure 14: Schematic cross section through Walganna Suite diapir with underlying Yalgoo Greenstones A large surface geochemistry program was undertaken across the span of the Wee Lode and Clementine target areas to determine the effectiveness of this technique for determining the presence and depth of the underlying greenstones and potential mineralisations. This study is in progress. Page 16 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Figure 15: Wee Lode and Clementine target area surface mapping and geochemistry Messenger Project Background The Messenger Project comprises 2 tenements totalling 201km2 (93km2 granted and 108km2 pending) located nearby the world class EMR Golden Grove base and precious metal mine. The project itself and neighbouring prospecting leases have all been subject to artisanal mining since at least the late 1890’s when gold was first discovered, and the project hosted a state processing facility which processed ore at an estimated grade of between 2 and 10 ounces per ton. The Messenger Project has outcrops of the key Golden Grove Unit as well as large outcrops of underexplored mafics, ultramafics and greenstone and associated quartz lodes. Page 17 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Figure 16: Nuggets found at surface at the Messenger Project in FY2020-2021 Activities Activities completed in FY2020-2021 at the Messenger Project included a significant enlargement of the project (application for an additional ~108km 2 / 107% increase) in addition to several mapping and sampling campaigns and drilling. Page 18 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Figure 17: Additional tenure applied for by Tempest in the Yalgoo Region Several mapping and geochemical sampling programs were completed with 273 samples taken across two target zones. All samples sieved to coarse medium and fine fractions and were assayed using pXRF with selected trial lines check assayed with conventional aqua-regia and ultrafine analysis. Figure 18: Surface mapping and total magnetic intensity at the Dally and Wally targets Page 19 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations 2,100m of RC drilling was completed at two priority drill target areas delineated by mapping and sampling at the Messenger Project (Dally and Wally). Figure 19: 2020 Drilling at the Dally and Wally targets Several drillholes were drilled below known mineralisation at the “Messengers Patch” mining centre. Quartz veining prevalent throughout the drilling is believed to be analogous to the mineralisation historically mined at very high grades from the surface to several 10’s of metres in the early 1900’s. Although most drillholes intercepted thick quartz veining - including occasional minor visible sulphide and oxide after sulphide - geochemical relationships noted in the assay results indicate that the host rocks have been altered by at least 2 generations of gold bearing mineralization (associated with sodic alteration and another associated with more mafic rocks). Preliminary indications are that these are not specifically associated only with the quartz reefs. Peak values included 11m @ 163ppb including 1m @ 0.7gpt Au from 11m. Although significant gold was discovered in this initial program - these results indicate that the primary source of much of the mineralization is yet to be revealed and may yield additional substantial results in the future. Page 20 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Figure 20: Cross section through the Messengers Patch historic mining centre (WARDH51-52) Figure 21: Cross section through drilling at the Dally with new parallel mineralized zone Page 21 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Mt Magnet Range Project Background The Range Project consists of 17 tenements for 20km2 located in Mount Magnet, 5km along strike from the prolific +6Moz Mount Magnet Operations. The project hosts a number of artisanal mining shafts and surface workings with known gold mineralisation within an over geological, geophysical and geochemical target envelope. Activities Work completed during the reporting period included continued data analysis, reconnaissance field mapping and sampling was also conducted with the view of generating drill targets to be potentially tested. Figure 22: Overview of the TEM Range Project in Mt Magnet Page 22 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations South East Yilgarn (YLP) Background The YLP consists of 3 tenements (1 granted 2 pending) for a total of 105.4km 2 highly prospective for lithium and gold. Activities Work conducted during the reporting period include further technical review and data analysis. Koolyanobbing Windarling Kalgoorlie KCGM Mt Marion Kambala St Ives Bald HIll Widgiemooltha Caranning Rocky Hill Mt Cattlin Greenbushes Figure 23: YLP Projects Overview African Projects In June 2020, the Company entered into a sale agreement with an African focussed multicommodity explorer Premier African Minerals Limited (AIM listed under the ticker PREM). Premier agreed to purchase the African projects and settlement occurred by payment of the purchase consideration of AUD$150,000 plus the payment of inspection fees through the issue of 124,512,702 Premier shares to Tempest. In March 2021, the Company sold 50,000,000 PREM shares for net sale proceeds of GBP 88,228.50 (AUD $159,042). Tempest retains exposure to the projects and Premier through this equity holding. US Projects The Company sold its 80% interest in the Tonopah Lithium Project in Nevada, United States of America, to ASX listed Argosy Minerals Ltd (ASX:AGY). Tempest retains exposure to the project through an agreed milestone payment of $250,000 payable upon Argosy announcing a JORC compliant reserve at the project of at least one million tonnes of lithium carbonate equivalent product or the commencement of commercial production of lithium product at the Tonopah Lithium Project. Page 23 TEMPEST MINERALS LTD - ACN 612 008 358 ANNUAL REPORT 2021 Review of Operations Strategy Tempest’s strategy is to maximise shareholder value and benefit all through the discovery and development of high potential precious, base and energy metals. We will achieve this by being industry leaders through excellence in sustainable business, innovation and science. Growth As part of the Company’s obligation to increase shareholder value, Tempest frequently reviews organic and acquisition-based growth opportunities which fit the company’s corporate and technical criteria. Likely Developments The Company will continue its mineral exploration activities with the objective of finding mineralised resources. The Company will also consider the acquisition of further prospective exploration interests and where appropriate secure joint venture partners to assist in financing exploration activities. The Coronavirus (COVID-19) pandemic has to date not had a significant direct financial impact on the Company. Staff have been able to work from home and have remained in good health. Whilst field exploration programs have been delayed or rescheduled as a result of certain travel restrictions and gradual opening up of borders, the Company is on track to complete the majority of its planned 2021/22 exploration program during the current field season. Page 24 TEMPEST MINERALS LTD- ACN 612 008 358 ANNUAL REPORT 2021 Directors’ Report The directors submit their report on the consolidated entity (“Group”) consisting of Tempest Minerals Ltd and the entities it controlled at the end of, and during, the financial year ended 30 June 2021. Directors The following persons were directors of Tempest Minerals Ltd during the financial year and up to the date of this report, unless otherwise stated: Brian Moller Don Smith Vincent Mascolo Andrew Haythorpe Owen Burchell Information on Directors The board has a strong combination of technical, managerial and capital markets experience. Expertise and experience include operating and mineral exploration. The names and qualifications of the current directors are summarised as follows: Brian Moller – Non-Executive Chairman Brian specialises in capital markets, mergers and acquisitions and corporate restructuring, and has acted in numerous transactions and capital raisings in the industrial, resources and energy sectors. He has been a partner at the legal firm, HopgoodGanim for 30 years and leads the Corporate Advisory and Governance practice. Mr Moller acts for many publicly listed companies in Australia and regularly advises boards of directors on corporate governance and related issues. Brian is a solicitor of the Supreme Court of Queensland and Solicitor and Barrister of the Supreme Court of Western Australia. During the past three years, Mr Moller has also served as a director of the following listed companies: ▪ DGR Global Ltd* (since 2 October 2002) ▪ Aus Tin Mining Limited* (since 1 December 2006) ▪ Newpeak Metals Limited* (since 22 January 2003) ▪ Platina Resources Ltd* (since 30 January 2007) ▪ Solgold PLC*^ (since 28 February 2013) ▪ Aguia Resources Limited (from 18 December 2013 to 14 June 2019) *denotes current directorship ^denotes listed on the Toronto Stock Exchange and the London Stock Exchange Brian is a member of the Audit & Risk Management Committee. Don Smith – Managing Director Don is a geologist and entrepreneur with over 20 years in the mining industry. He has worked in operational, development, exploration and consultant roles for junior through to multinational firms spanning over 10 countries and numerous commodities including base metals, precious metals and energy minerals. Don has a Bachelor of Science from Newcastle University and a Master of Business Administration from the Australian Institute of Business. Don is also a member of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists. Don does not sit on the board of any other listed companies, nor has he served as a director of any other listed company in the last three years. Page 25 TEMPEST MINERALS LTD- ACN 612 008 358 ANNUAL REPORT 2021 Directors’ Report Vincent Mascolo – Independent Non-Executive Director Vincent is a qualified mining engineer with extensive experience in gold and coal mining, quarrying and civil works. He has been a director of various public and private companies over the past 27 years and is currently Chief Executive Officer and Managing Director of AIM listed IronRidge Resources Ltd. During the past three years, Vince has also served as a director of the following listed companies: ▪ IronRidge Resources Limited^ (since listing on 12 February 2015) ▪ DGR Global Ltd (from 30 September 2002 to 28 June 2021) ^denotes listed on the Alternative Investment Market of the London Stock Exchange Vincent is chairman of the Audit & Risk Management Committee. Andrew Haythorpe – Independent Non-Executive Director Andrew has 30 years’ experience in geology, funds management and has been a Director and Chairman of a number of TSX and ASX listed companies. Since 1999, Andrew has been involved in over A$300 million of mergers and acquisitions and capital raisings in mining and technology companies listed on the TSX and ASX. Andrew has a Bachelor of Science (Hons) from the James Cook University, is a member of the Australian Institute of Company Directors (MAICD) and a Fellow of the Australian Minerals Institute (FAusIMM). During the past three years, Andrew has also served as a director of the following listed companies: ▪ New Energy Minerals Ltd (appointed 3 May 2021 as Managing Director) ▪ Accelerate Resources Ltd (from 7 September 2017 to 3 July 2020) Owen Burchell – Non-Executive Director Owen is a mining engineer with 20 years of technical, operational and corporate experience including management positions at Rio Tinto, BHP and Barrick