Investor Presentaiton

Corporate Strategy The Lassonde Curve - The Challenge......and the Opportunity Risk Exploration risk Technical risk Funding risk Assessment: Production: Value No new news Valued for cash flow Re-rating to producer valuation: Could be 5-10x uplift Commodity risk Fluctuating prices Discovery: Market bets on uncertainty Financing and construction: Project study limits project risk Time 22 22 CONTANGO ORE

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