Growth Ambitions and Development Update
Fountain Head Gold Project
Development Steps to gold Production in <1 year
Mining and Infrastructure
✓
Open-pit mining optimisation and pit designs completed – mining tenders to be distributed Feb'2022
Existing Infrastructure to minimise footprint, utilises existing waste storage for IWL, water dams etc
Process design and metallurgical test work
✓ Feasibility level technical studies to inform the proposed milling and CIL process route (PFS June 2021)
✓ Design criteria established for crushing, gold leaching and recovery based on preliminary data
✓ Usage of 2nd hand equipment – assessment of filtration equipment to occur when WA borders open
✓ Ongoing engineering and design with engineering partner Como Engineers
Financing
➤ Argonaut PCF appointed as Debt Advisor, Term Sheets due Q1 2022
Approvals
✓ Project Notice of Intent submitted to NT Environmental Protection Authority in Dec 2019
✓
Mine Management Plan for dewatering approved
✓ EIS submission Q2 2021 - Public consultation period ended August 2021, supplement submission Nov 21,
awaiting feedback
Production
➤ Site based activities to commence from Q2 2022 (subject to receipt of approvals and financing)
Gold production achievable 12 months from development decision
PNX
METALS
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