LEVRD

AuKing Mining (ASX: AKN) has spent five months turning itself into a Malawi rare earths company. Managing Director Paul Williams joins LEVRD to go through the first assays from Tundulu, the six projects bought from Tusker Minerals, how the basket stacks up against Lindian's Kangankunde and Mkango's Songwe Hill, and how a company with A$1.33 million in the bank funds a maiden resource. WHAT WE COVERED - Five months, six projects — what AuKing is turning into - The Tusker Minerals relationship and how the Malawi deals came together - A$2.15M of deferred cash owed to Tusker — when it falls due and where it comes from - The 30 September GEL long-stop and ASX Chapter 11 re-compliance - First assays: 91m @ 1.51% TREO from 40m, including 15m @ 3.40% - Three holes down, 28 to go — the read-through to the rest - 26NH014 and the southern magnetic low step-out - NdPr at ~14% of the basket against Kangankunde's 20.3% - The heavies: 8m @ 16.09% HREE+Y/TREO, 42m @ 11.46% - Where Tundulu's thick-and-moderate holes really sit - More heavies for less NdPr — is that the trade on offer? - Maiden MRE before the end of the year — still live? - Songwe Hill at 38.1Mt @ 1.15% — the closer comparator? - The newly approved 1,000m hole and what it's chasing - Whether historical drilling goes into the maiden resource - Karonga, and the copper spin-off on the table - GBA Capital's A$9.14M option underwrite at 3c, with the stock at 1.5c - The termination triggers and the 11.8% fall on 10 September - Which catalyst actually moves the stock LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Auric Mining (ASX: AWJ) has mined gold, made money, and done it twice. Managing Director Mark English joins LEVRD to talk through the A$38 million pulled out of Jeffreys Find and Munda, the Union Jack acquisition that just lifted group inventory 51% to 301,000 ounces, the hire of former Black Cat Syndicate boss Gareth Solly, and the A$137 million plan to build Auric its own mill at Burbanks. WHAT WE COVERED - What Auric is today after two completed, profitable campaigns - "WA's next fully integrated mining house" — what it actually means - How much of the A$38M is campaign cash, not raised cash - Union Jack: 102,000oz at 1.02g/t, and why now - The deal terms — A$6.5M cash, 12.5M shares, A$7M milestones, 1% royalty - An all-Inferred resource, and the plan to drill it out - Depth at Union Jack: 16m @ 4.34g/t from 184m - Gareth Solly's mandate, and how he and Mark split the wheel - Munda Starter Pit: 8,886oz against a 6,100oz budget - Grade reconciled 2.46g/t vs 1.80g/t — what the model missed - Recovery 89.5% vs 83% budgeted — ore or mill? - How a permitted mill site sold for A$4.4M - New 600ktpa CIL plant, not a refurb — where the A$137M goes - Approvals status and the early-2027 construction trigger - Scoping Study: 141,000oz over 56 months, A$2,843/oz AISC - Funding the build: more M&A, royalties and streams vs equity - Lindsay's, the Wardens' Court, and whether Union Jack replaces it - Spargoville, 10km from Wattle Dam LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Critica Limited (ASX: CRI) CEO Jacob Deysel joins LEVRD to unpack one of the more unusual critical minerals stories on the ASX — a single company carrying rare earths, yttrium, gallium, tin and tungsten across two Australian projects. WHAT WE COVER - The five-commodity basket - Which of the five Critica sees the most future demand for, and why - China's chokehold: ~98% gallium, ~85%+ rare earth processing, ~80%+ tungsten, ~35%+ refined tin — which one the West is furthest from solving - China's October 2025 export-control package, the 0.1% extraterritorial de minimis rule, and the two lapse dates inside the next ten weeks - Jupiter Discovery to 97% TREO oxide in 23 months - 1.8Bt @ ~1,700ppm TREO, 100% Inferred — the 145-hole infill program and when the updated SRK resource lands - The grade-tonnage curve: 1.8Bt @ 1,700ppm at a 1,000ppm cut-off vs 500Mt @ 2,200ppm at 1,800ppm — can you selectively mine it? - The 14x upgrade to 3% TREO - Gallium: nobody produces it commercially from a rare earth clay flowsheet — what work has been done - A 58% TREO carbonate and a 97% TREO oxide (25.9% magnet oxides, 2.7% yttrium, 0.66% Dy, 0.25% Tb) — who actually buys these baskets - Mt Lindsay Underground Tin/Tungsten project with a conveyor through an existing disturbed quarry, and what that means for permitting - Renison Bell at 1.48% tin vs Mt Lindsay at 0.2-0.4% — how much the tungsten changes the equation - The honest Australian advantage: permitting, geology, or allied government balance sheets - The April 2026 US-Australia Critical Minerals Framework A$5Bn tranche — Critica wasn't on the list. What gets you on it? - What it actually takes to get a US, Japanese or Korean strategic investor interested at a A$61M market cap LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Scott North from Kamoa Capital joins me for the Weekly Wrap. On the desk this week: Kaoko Metals (ASX: KAO) and that ripper copper run in Namibia, Talon Metals (TSX: TLO) dropping high-grade nickel-copper from the Vault Zone, why the copper market is looking properly bullish, two gold mergers that make all the sense in the world but could drag out forever, St Barbara's (ASX: SBM) cash pile burning a hole in the pocket — plus Matty's usual degenerate trading antics. More from Scott & Kamoa Capital: Website: https://kamoacap.com The Drill Down (twice-daily newsletter): https://kamoacap.com/the-drill-down LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Paul Bennett takes us through where Medallion Metals (ASX:MM8) actually sits on the build — Macmahon announced, box cut underway, ball mill landing in Fremantle on 17 September and first Ravensthorpe ore still pinned to Q2 CY2027. We also get into the $60 million raise, a Gem intercept of 5.3m @ 33.3g/t Au and 1.7% Cu, a Hillsborough Deeps hit that looks more like a copper lode than a gold one, and the $2.1 million early production circuit that underwrites a $20 million toll treating agreement before the plant is even converted. What we covered: - Macmahon's ~$240M contract, box cut progress and when the jumbo starts cutting the portal - Spotted Quoll infrastructure moved to Ravensthorpe — what it's saved off the $138M pre-production capital - Q2 CY2027 first ore: the 1-2 month slips, and whether the date holds - Development ore vs first stoping - The $60M raise — opportunistic, or a shift toward extensional growth - Kundip: 5.3m @ 33.3g/t Au, 1.7% Cu at Gem, and whether confirmatory drilling moved the reconciliation - Hillsborough Deeps: 13.5m @ 3.3g/t Au, 5.1% Cu, 26g/t Ag — true width, concentrate grade, and whether MM8 is still a gold company - The $2.1M repurposed flotation circuit and the 200,000t @ $100/dry tonne toll agreement - Lounge Lizard — validated historics, a granted lease 600m from Flying Fox portal, and the 6,700m program - McMahons pit results, Teddy Bear and the wider Forrestania target set - The Q4 CY2026 maiden Forrestania MRE — and whether Forrestania is a resource story or an infrastructure story - The bottleneck on the road to 100,000oz a year: mill, development rate or ore supply LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Adam Oehlman returns to the desk three months after his first sit-down, and this time he's got assays. Sierra Nevada Gold (ASX: SNX) has finished 28 holes at the As Safra Copper-Gold Project in Saudi Arabia, stretched the Central Copper Zone from 400m to more than 800m of strike, and stumbled onto a polymetallic breccia 400m south of where it was aiming — the highest-value intercept in the entire program. Off the back of it, SNX has raised $12.85 million and near-doubled Phase 2 to 25,000m plus 10.5km of trenching. We go through what beat the base case, what didn't work, where the gold went, and what happens to Nevada. What we covered: - Phase 1 in review - Central Copper Zone: 400m to 800m+ of strike, and whether it's one continuous body or a stack of skarn lenses - ASDD0009's 16m @ 1.49% Cu (incl. 2m @ 4.95% Cu) vs ASDD0012's 38m @ 0.54% Cu — bulk tonnage or selective high grade - The gold question — what Phase 2's gold zones need to deliver - The polymetallic breccia: ASRC0012's 11m @ 1.15g/t Au, 108.7g/t Ag, 0.21% Cu, 4.64% Zn, 1.88% Pb — found under cover, off-target - As Safra Southeast — the IP target that was the priority going in, and how it actually rated - North Central: 15.8% Cu in rock chips over a 500m trend, never drilled - Seven live opportunities, a 5.5km corridor, a 12km geochem footprint - Phase 2: why 15,000m became 25,000m+, and whether $12.85M actually gets it done - The balance sheet — the raise, the Saudi drilling rebates and current runway - Nevada: what forced the formal commercialisation process seven weeks after "no fire sale", price expectations, and how discussions are tracking - More tenements in the Kingdom, and whether Sierra Nevada Gold is still the right name LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Ballard Mining (ASX:BM1) MD Paul Brennan sits down with LEVRD to unpack the Mt Ida gold project: a 1.0Moz @ 3.5 g/t Baldock resource, seven granted mining leases, a full permitting stack, $61.8m in the bank — and no mill. We get into the Delta Lithium mineral rights split, what Aurenne's 2.5Mtpa plant next door really means and how the MRE → Reserve → DFS → FID timeline is tracking toward H1 2027. What we covered: - BM1's ground, resource and tenure explained - Mineral Rights Deed - Where the lithium sits relative to the gold - Delta's 34.4% - MinRes's position in BM1 today - West Knell mining lease, metallurgy and geotech - 150km of drilling since February — MRE timing and the 1.5Moz question - Baldock at depth: 3m @ 23.6 g/t at 689m, 300m below the resource - 91% CIL recovery and the effect of Copper - Copper credit: Ballard's or Delta's? - West Knell 9m @ 27.1 g/t — satellite pit or a second Baldock? - Who Aurenne are and the current state of talks - $30–40/t own plant vs ~$120/t toll treating — and the gold price where that flips - What's still outstanding before turning dirt LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

NewPeak Metals (ASX: NPM) Managing Director Mark Purcell joins LEVRD to unpack Las Opeñas — the San Juan, Argentina gold-silver project that just returned 657m @ 0.30g/t AuEq from surface in LODH-027, about 45m from July's discovery hole. Covered in this episode: - Company history — Dark Horse Resources to NewPeak Metals, and what Purcell brought from Goldman Sachs, Rothschild, Rio Tinto, Peabody and SQX Resources - The geology: low-sulphidation epithermal, gold-dominant phase sitting above a base-metal phase, and a preserved top of system under autobreccia lava - LODH-027's 657m @ 0.30g/t AuEq from surface, and why the pairing with July's discovery hole matters more than either hole alone - Gold grade strengthening to the west — genuine vector, or an artefact of where the rigs went? - Why the announcement withheld cross-sections: "too sparse and ambiguous to accurately predict geometries" - Location: 70km from Veladero, 110km from Hualilan, shared access roads with BHP and Lundin's Vicuña, collars at 3,310–3,391m and year-round access - San Juan as a jurisdiction - Tansey — 43m @ 0.75g/t Au from 157m — and why a real result is now flagged for farm-in or divestment - The balance sheet — $4.57m spent, $5.6m of listed investments sold, the Lakes Blue Energy holding, and the $3.5m placement at 1.3c - Newsflow into Christmas LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Copper M&A is running hot, Boss Energy fronts up with another disappointment, and Robert Friedland pulls more money out of Washington. Matt Michael (LEVRD) and Scott North (Kamoa Capital) run through the week that was in mining. On the desk this week: - Copper M&A — who's buying, who's next - Firefly Metals study + the North Queensland copper story - Lynas Rare Earths and that cash balance - Boss Energy disappoints again - DevEx hit dusters - Atomic Eagle get back into Niger - Friedland lands more U.S. government money - Tungsten — the investment case nobody was watching THE DRILL DOWN — Scott's free twice-daily natural resources briefing from Kamoa Capital. Exploration results, capital markets, deals and policy, curated for people who actually work in the sector. Subscribe free: https://news.kamoacap.com/subscribe More from Kamoa Capital: https://kamoacap.com LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Tronox came onto the Lion Rock Minerals (ASX: LRM) register at 5.6 cents in October 2025 and has publicly named the Minta project in Cameroon as a potential feedstock source for a rare earths plant it's seeking up to US$600m of US and Australian export credit agency funding for. The stock is now around 2.0 cents, down roughly 70% in a year, with no Mineral Resource Estimate and under A$7m in the bank. Theuns de Bruyn ran Sierra Rutile through its ASX listing, the Area 1 suspension, a government breach notice and a takeover at 18 cents. He and Grant Scott have now relocated permanently to Cameroon to develop Minta. We go through the Tronox relationship, whether Minta is a Rutile or Rare Earth project (or both), and what has to land in the next twelve months. WHAT WE COVERED - Tronox's 5.6c entry, its US$600m ECA-backed rare earths plant, and whether the Minta feedstock link is a real offtake conversation or still aspirational - Lessons bought from Sierra Rutile journey - Why two Sierra Rutile executives left for a A$60m company with no resource, no reserve and three quarters of cash - Rutile 101: what it is, why only ~450,000t a year exists against ~9Mt of ilmenite, and why 95% TiO2 beats 50% - Minta's geography, the Douala and Kribi port distances, and the real state of the infrastructure - 8,800km2 vs "approximately 5,000km2 of prospective ground" - which number investors should use - Two orebodies, one licence: shallow residual rutile vs monazite-rich alluvial traps at Minta Est - one project or two? - The 0.5%-1.2% indicative in-situ TREO range, the 118-hole Dormer program, and what to look for when assays land - A$6.865m at 30 June, A$2.132m burned in the quarter - where the money goes next - MRE in H2 2026, "later this year", or just an initial Exploration Target - what investors should actually expect - The Kitongo and Lolo uranium permits, Duncan Craib, and whether a spinout or sale is coming - The three things that have to be delivered in twelve months for this to have been the right job to take LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Dom Duggan took the CEO chair at Patriot Resources on 2 February and was made Managing Director part-way through the year. Six months in, he sits across a Peruvian silver deposit with a 31.4Moz Inferred resource and a conceptual exploration target roughly twenty times that size, a maiden copper discovery in Zambia drilled for about A$200 a metre, a new Copperbelt licence, and a fresh $3m raise. We go through what gets drilled first, where the money comes from, and the community agreement standing between Patriot and a rig at Tassa. Discussed: - What Dom found at Patriot that he didn't expect, and whether it's a silver company or a portfolio explorer after the April 2025 name change - Staking Tassa 5 on 7 August, and why that ground was still available with Buenaventura, Teck, Barrick and Fresnillo all nearby - The community agreement as the critical path to drilling - Why Bear Creek and Teck both held this ground and neither drilled it out - The 31.4Moz Inferred resource from 26 historical holes: orebody style and conversion likelihood - The 559-774Moz AgEq exploration target, the rationale for publishing it, and how a number like that would rate regionally - What sits inside 52.68 g/t AgEq: contained silver, and the silver and gold prices behind the equivalence - The Bear Creek deal: US$3.5m over 30 months, US$500k paid, US$1m due at 18 months, US$1.5m at 30 months, and where that money comes from - The 156 million Colque milestone shares against 293 million on issue, and how much drilling triggers the first Indicated tranche - Zambia: 14 holes for 2,035 metres at roughly A$400,000, and whether ~A$200 a metre holds at scale - Tonic - 1m at 2.56% copper versus broad intervals of 0.11% to 0.41% - and which number describes the deposit - The Sinomine plant and smelter conversation, and whether Patriot's sediment-hosted ore fits an IOCG flowsheet with no metallurgical testwork done - A 5.5km Tonic corridor and when a rig goes back - The $500,000 Next Investors placement at 5 cents, a 28% premium, bundled with a 24-month IR and marketing agreement - The two or three milestones shareholders should hold him to by this time next year, and plan B if the community agreement isn't signed by Christmas LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Atomic Eagle Limited (ASX: AEU | OTCQX: AEUXF) has agreed terms on a new Mining Convention with the Republic of Niger, re-establishing its interest in the Madaouela Uranium Project — a 116.5Mlb U₃O₈ resource at 1,282ppm (foreign estimate) built on roughly 600,000 metres of historical drilling and feasibility-level studies. The deal ends a dispute that began with the project's 2024 expropriation from GoviEx and gives AEU a 60% interest and operational control through Nigerien subsidiary MAMICO, with the State holding 40%. CEO Phil Hoskins joins us to unpack the transaction, what it means alongside the company's flagship 58.8Mlb JORC Muntanga Project in Zambia, and where the value gets unlocked from here. Discussed in this episode: - How the Madaouela deal came together — negotiating with the Government of Niger and resolving the arbitration inherited from the GoviEx/Tombador merger - The commercial terms: 60/40 ownership, US$5M on permit issuance and US$5M at construction, the US$40M State equity credit, and the dilution framework - Contractual protections that matter — legal and fiscal stabilisation, ICSID arbitration access, offshore banking, and 10-year renewable tenure - Offtake and marketing clarity, including the Government's rights, the 50% cap and the 90-day deemed-approval mechanism - Niger as a uranium jurisdiction — 50+ years of production, and neighbours including SOMAIR, COMINAK, Global Atomic's Dasa and Imouraren - Who the players are on the ground and how the new administration approached the negotiation - The resource breakdown — 96.9Mlbs Measured & Indicated at 1,275ppm and 19.6Mlbs Inferred at 1,330ppm - The funding question — whether AEU needs to raise, and how staged payments and partnership options shape that answer - Where the wins are at Madaouela: resource verification, mine planning optimisation, alternative development pathways and potential strategic partners - Muntanga stays the flagship — 2026 drilling for scale, optimisation work, and updated feasibility targeted from 2027 - Upcoming newsflow and what investors should be watching over the next 12 months LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Ken Hoffman called the lithium bottom before the market did. Ten months on, Chinese carbonate has gone from CNY 61,000 a tonne to CNY 148,000, copper has printed a record US$14,455, and the demand engine driving all of it — stationary storage — is one almost nobody had in their models three years ago. What we covered: - Why he called the lithium bottom early, and what was in the data everyone else skipped past - Whether "chaos is the opportunity" still holds, or is now destroying more value than it creates - Stationary storage overtaking EV batteries — does the crossover still happen this decade? - China's two big policy moves on storage, and which one actually matters for lithium demand - The Chinese "emergency order" for backup batteries — where that number comes from, and what's contracted - Data-centre storage as a separate demand vector, or the industry double-counting the same megawatt-hours - Where the next demand surprise comes from after storage Lithium at CNY 148,000 — a pause in a bull market, or the front edge of the next supply response - Bald Hill, Finniss and Jianxiawo restarting, and what's different from the 2023–25 glut - Zimbabwe's export ban and whether the Indonesian nickel playbook transfers to lithium - His own forecasting record, and the systematic bias in demand modelling - Where new lithium supply gets built at US$18,000 a tonne without a government cheque - Copper's record run, and the correction he called that never came AI data centres versus Grasberg and El Teniente — narrative or genuine structural loss - What a coherent US copper strategy would actually look like - Rare earths and the US$110 NdPr price floor — who is absorbing the gap - China's grip on refined NdPr and heavy rare earth separation, and what the West can realistically shift - China's graphite and battery-equipment export controls, and what happens when the suspension expires in November - Manganese, LMFP, and what has to happen for that thesis to pay (including his Firebird Metals advisory role) - Why he's not a believer in sodium-ion, and what would change his mind - The material with the strongest demand outlook and the thinnest pipeline - Separating the West's mining problem from its refining problem LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Leeuwin Metals (ASX: LM1) has grown the Marda Gold Project from an acquisition in March 2025 to a 378,600oz JORC resource sitting entirely on granted mining leases — all for a market capitalisation of around A$23 million. In the space of three weeks in June, Forrestania Resources (ASX: FRS) went from nothing to 10.37% of the register, timing part of that buying to its A$300m acquisition of the Edna May mill from Ramelius. Forrestania has said nothing publicly about why. Executive Chairman Christopher Piggott joins us to talk through the resource upgrade and what sits behind the headline numbers, the two processing conversations running in parallel, the exploration pipeline at Red Boomerang, Deception Hill and Mt King, the balance sheet, and what he does and doesn't know about his new second-largest shareholder. In this interview: - Where Leeuwin sits sixteen months after acquiring Marda, and how close it is to being more than an explorer - Why a 378,600oz resource on granted mining leases is being priced at roughly A$50 an enterprise value ounce - Forrestania Resources moving from zero to 10.37% in three weeks — whether there have been any discussions with David Geraghty or the Forrestania board - Forrestania's ~19.7c average entry price, and what a holder at that level means for any future equity raise - Running the Bain and MEGA MOU alongside a shareholder who is buying a 2.9Mtpa mill down the road - The dual-track strategy — standalone plant versus third-party milling — and whether a standalone build is genuinely on the table - Unpacking the resource upgrade: a 36,300oz global increase versus the "Indicated up 41%, Evanston up 22%" headline - Red Boomerang's historical intercepts — 66m @ 1.12 g/t and 12m @ 4.33 g/t including 1m @ 26.4 g/t — and why nobody has followed them up - Runway: A$3.66m cash against A$1.31m of quarterly outgoings, and whether environmental studies, mine planning and Red Boomerang drilling are all funded - Whether funding decisions are on hold pending clarity on Forrestania's intentions - Selling West Pilbara iron ore, Cross Lake lithium and William Lake Ni-PGE LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Nine months after listing at 25 cents, PC Gold (ASX: PC2) has an interim resource of 1.51moz at Spring Hill in the Northern Territory — an 84% increase in a single update. Chairman Ash Pattison joins us to go through what's actually in that resource, why the high-grade Link Zone has the market's attention, and how a 1.1 g/t deposit gets financed in a district where nobody else is building a plant. We also cover the idle Agnico Eagle mill 26km down the road, the Terracore acquisition, the royalty stack, a thin free float, and what lands between now and Christmas. Covered in this interview: - Spring Hill's history, the existing adits, and where the project sits in the Pine Creek district - Open pit, underground, or takeover target — what Spring Hill is actually going to be - Why publish an interim MRE in July rather than wait for the pre-Christmas update - The resource by cut-off grade: 863,000oz at 1.9 g/t (1.0 g/t cut-off) versus 1.51Moz at 0.5 g/t, and what has to be mined - The Link Zone: 1.12Mt at 5.37 g/t for 193,500oz — genuine second orebody or high-grade sweetener? - The Chrysos Corporation collaboration on SDH26-005 — is a 500g photon assay under-calling in-situ grade? - The ~45% grade uplift from photon assay versus fire assay, and what happens if sample size cuts the other way - Agnico Eagle's idle 2.4Mtpa Union Reefs CIL plant, 26km away — and why the base case is a new standalone 3Mtpa plant - Whether PC Gold has approached Agnico, and what came back Ex-Agnico and ex-Vista hires — Sean Church, Peter Harris — and what they say is different about Spring Hill - The Terracore Gold acquisition - Permitting: what's already approved, and how big a variation a standalone plant and TSF actually is - Re-opening the 427m adit — when a rig gets underground and what that platform opens up - A$21.7m cash, A$4m quarterly burn, four rigs, 20,000m of RC — the runway - Three stacked royalties: the Rivi 5% NSR, the buy-back cost and timing, Franco-Nevada/Carthew - The newsflow calendar to Christmas — and which catalyst actually re-rates the stock LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Rhod Grivas has spent 35 years in Western Australian gold and was involved in the discovery of Rubicon, Hornet and Pegasus at Kundana — a camp that has yielded more than five million ounces. So why is he now chairman of Golden Dragon Mining (ASX:GDR), a company that listed last October at 20 cents with a market capitalisation under $9 million? In this conversation, Rhod walks through what he saw at the Cue Gold Project that made him take the seat, and what has to happen next for the market to take notice. WHAT WE COVER - Why a Kundana discovery veteran took the chair at a sub-$9M explorer - 613km² in the Murchison — is scale an asset, or just more ground to fund? - 50km of mineralised shear, and how you choose where to point the rig - 1.5km from Westgold's 2.3Moz Big Bell mine — what that's actually worth - Coodardy: 12m @ 6.5g/t incl 4m @ 17.6g/t — real shoot or lucky holes? - Shallow, oxide, open in every direction — the road to a maiden resource - Behring Bore: why the "camp-scale" target beats the better grades - 827 auger holes, two anomalies over 3km - Why arsenic and antimony matter more than the gold numbers - Chengtun Gold: $2.2M at a 17.6% premium for just under 20% - The board seat, the standstill, and the FIRB hedge in the fine print - How many months of drilling the cash actually buys - Heritage clearances, native title, and when a rig hits new ground - Next assays, upcoming newsflow, and what success looks like in 12 months LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Power Minerals Limited (ASX: PNN) has delivered exceptional high-grade rare earth results from the first hole of its maiden drilling program at the Morro do Ferro Project in Minas Gerais, Brazil. CEO Alistair Stephens joins us to unpack the numbers, what they mean for the maiden Mineral Resource Estimate targeted before year-end, and why an unexpected gallium intersection could reshape the project's economics. WHAT WE COVER - The scale of the first-hole result and how it stacks up against Mt Weld and Mountain Pass - The bastnasite-rich mineralogy behind a potential premium magnet rare earth product - What high-grade gallium to end-of-hole means for future project economics - Ramping up to two rigs and two shifts, with a third rig set to commence - The path to a maiden Mineral Resource Estimate before the end of 2026 - What shareholders should watch for next as assays continue to flow LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Fenix Resources (ASX: FEX) just shipped the biggest quarter in its history — 1.3 million tonnes in June, exiting the year above 5Mtpa annualised. The share price has gone the other way. Chairman John Welborn returns to explain why, and what happens next. We last spoke in April, when a cyclone had just hit the Pilbara, diesel was blowing out and the stock was at A$0.33. Since then: record tonnes, a full-year C1 of A$73.7/t at the bottom of the guided band, W10 approvals landed on 20 July, and US$44 million of new funding signed against a A$300 million gap. John doesn't dodge the hard parts. We go through the June quarter C1 of A$79.9/t, the fuel excise relief that expires next Monday with only 30% of diesel hedged, freight running from A$23 to A$32 a tonne in a single quarter, and A$294 million of half-year revenue that produced A$9.7 million of profit. Production has tripled since FY24. Margin hasn't followed. Then the build. Weld Range and the Beebyn Hub — first blast this quarter, first ore on a ship in December, W11 doubling to 3Mtpa, and the 244km haul road that is supposed to drag C1 into the fifties. Plus the Wajarri Yamaji Deed of Covenant, the Sinosteel payments, the fleet capex, and whether a dividend survives a capital program that size against A$81 million of cash. WHAT WE COVER - Why a record quarter hasn't translated into a share price - What actually changed between 974,000t in March and 1.3Mt in June - FY27 guidance at a 5.0Mt midpoint — conservative, or capped? - C1 costs, diesel at A$2.45, and the 70% that isn't hedged - Freight economics and the Mira Bulk Freight partnership - Revenue up, profit down — what tonnage makes this a margin business - Weld Range: W10 approvals, first ore on ship, and the sequence to December - The Wajarri Yamaji Deed of Covenant and what "legally clear to mine" means - The 244km haul road — DFS scope, and who pays - Funding A$500m without raising equity: does the vision still stand? - Franking credits, last year's dividend, and whether it repeats - The 61% Fe benchmark, the lump premium, and what grade is worth - Chinese steel demand, and what customers are saying about FY27 - CMRG, yuan-priced indices, and where Fenix sits LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

Techgen Metals (ASX:TG1) is about to put a drill bit into ground that has never been drilled — despite rock chips grading up to 52.3% copper and 5.35g/t gold at surface. Managing Director Ashley Hood joins us to walk through the maiden diamond drilling program at the Blue Devil Copper-Gold Project in WA's Kimberley, why earlier explorers walked past it, and what modern geophysics revealed that changed TechGen's conviction. We cover the two targets — the 2.75km-long airborne EM conductor at Blue Devil sitting ~200m deep, and the strong IP chargeability anomaly and copper gossans at Red Devil — plus what a "success" actually looks like at each, and how representative those headline grab-sample grades really are of what's at depth. Ashley also addresses the harder questions: whether two holes can properly test targets of this scale, the deposit models on the table (porphyry Cu-Au, IOCG, intrusion-related gold, skarn), the recently oversubscribed A$2.7M placement at 1.6c with free attaching options, and whether a ~A$12M market cap company can genuinely fund five drilling programs across three states. In this conversation: - Where Blue Devil sits, and why it's been called "the one we've been waiting for" since IPO - What the airborne EM and IP surveys revealed across a ~195km² landholding - Extending the Red Devil shear zone to 1.8km, and fresh chips of 42.6% Cu and 4.56g/t Au - Managing expectations around selective grab samples from gossanous outcrop - POW approval, heritage clearance with Traditional Owners, pads built — what's left before the rig turns - WA Government EIS co-funding and how it shapes hole prioritisation Regional context: Savannah, Copernicus and Koongie Park as analogues - The A$2.7M raise, Tranche 2 shareholder approval, and the 3.6c options expiring 2028 - Cash position - Dalgaranga: second-largest landholder behind Ramelius, 8km from their plant, tenure still at application - John Bull (NSW) drilling update - First assays and news-flow cadence through H2 2026 LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.

BOA Resources (ASX: BOA) has moved fast — from a 49% exploration interest in the Neds Creek copper play to acquiring 100% of Core Value Australia plus the Thaduna and Green Dragon deposits from Sandfire Resources. In this interview, newly appointed Managing Director Graeme Purcell walks us through the transformation: how the deal came together, why Sandfire now sits on the register as a ~6.2% shareholder, what the 5.3Mt @ 2.3% Cu (121kt contained copper) resource really represents, and the drill program that kicks off in Q3 2026. We cover the leadership transition, the acquisition history, transaction structure, the historical mining at Thaduna and Green Dragon, six priority drill targets led by Ricci Lee, the debate over whether the region can deliver "another DeGrussa," tenement and Mining Lease status, funding, and the catalysts to watch through 2026 and into 2027. WHAT WE COVER - Leadership transition — Graeme Purcell to MD, Cath Norman to Chair - History of acquiring the copper assets & the original Stanifer / CVA deal - From 49% to 100% — the consolidation strategy - Securing Thaduna & Green Dragon from Sandfire - Transaction structure, consideration & vendor ownership - Adrian Griffin joining the board - Sandfire as a ~6.2% substantial shareholder & the ongoing relationship - Proximity to the old DeGrussa mine - Historical mining at the tenements (1940s–70s) - Current resources — Thaduna & Green Dragon (121kt Cu) - Drill targets & the ML-led exploration program - Ricci Lee — priority resource-definition drilling - Rooneys, Mueller, Enigma & the target pipeline - Chances of finding "another DeGrussa" - Tenement status & progression to Mining Leases - Balance sheet & funding the drill program - Biggest catalysts, outlook & key risks KEY FACTS - Combined resource: 5.3Mt @ 2.3% Cu for 121kt contained copper (Thaduna ~103kt / Green Dragon ~18kt) - CVA consideration: ~127.6M shares + ~76.9M options @ $0.10 (~$7.27M) - Sandfire Resources to hold ~6.2% of BOA on completion - Both deposits open at depth (Thaduna to 660m, Green Dragon to 270m) - Thaduna (M52/1061) & Green Dragon (M52/1060) are granted Mining Leases - ~15,000m drill program (7,500m RC + 7,500m AC), drilling from Q3 2026 LEVRD Partners WA WATER BORES The best water drillers in Australia James Harrington - 0429 695 538 https://www.wawaterbores.com.au/ MINING SELECT Find a Mining job RIGHT NOW!! https://www.miningselect.com.au/ Download the app and start the hunt LEVRD Socials X ► https://x.com/mattmichaelOG Instagram ► https://www.instagram.com/levrdmatty/ Tiktok ► https://www.tiktok.com/@levrdmatty Facebook ► https://www.facebook.com/levrdtrading Linkedin ► https://www.linkedin.com/company/levrd/ This channel and all the audio/video content is prepared by Life of Mine Podcast Pty Ltd (trading as Levrd). Levrd is an Authorised Representative (AR 001318377) of 62 Consulting Pty Ltd (ABN 88 664 809 303), AFSL 548573. Any views are general in nature, or the opinion are of Levrd. The audio/video contents are not personal financial or tax advice, this means they do not consider your objectives, financial situation or needs. Do not follow my trades, they are for entertainment purposes only. CFDs are high risk; you can lose all capital rapidly. My past performance isn't reliable. I may be long/short in CFDs mentioned in the audio/video. FSG: https://levrd.live/pages/fsg This material is not an offer, invitation or recommendation to acquire or dispose of any financial product including CFDs or to adopt any strategy. While believed reliable, the information may be incomplete or change without notice, it is provided for entertainment purposes only. Except for liability under statute that cannot be excluded, no representation or warranty of accuracy or completeness is given. No guarantee of returns or capital protection is given by 62 Consulting, Levrd or their related parties.