Coffee with Samso 195 is all about the accessibility of the Jupiter Rare Earth project. This episode comes from the site of the project and lets audiences see why Jupiter is all about Location, Location, Location. Venture Minerals Limited (ASX: VMS) is now finalising a drilling program to infill the Jupiter project as they work to build a maiden JORC resource for the project. It is also now bringing management to site to see for themselves the ease of having a potential mining proposition. Managing Director, Andrew Radonjic and the Chair, Mel Ashton are sharing with us their thoughts on this episode of Coffee with Samso. There are no revelations but a reinforcement to investors and shareholders that the potential for a mining operation will come with Tier 1 infrastructure and potential partners or off-takers. Remembering the Reasons to Focus on the Jupiter REE project The fanfare on the Jupiter Rare Earth project is all about the ASX release by Venture Minerals on the 29th November 2023 (Jupiter Delivers over 7,000 ppm TREO assays from Maiden RC Drill Program) and the second round of results that was released on the 8th March 2024 (Jupiter Drilling Continues to Deliver Broad High-Grade REE Mineralisation including a Record NdPr Intersection of over 5,000 ppm). The project is shaping up to be something different to the family of clay Rare Earth stories in Australia. Venture has been able to show up with good width of mineralisation, grades that are above the norm and its location for the mining process may well be a determining advantage. The share price has been very buoyant and when taken into context of the Rare Earth sector in general, Venture Minerals is doing very well. There is a keen interest in the market to see where this story will end up. This episode continues to share more insights into the project and why the management of Venture Minerals all all looking forward to move this project forward. Check out the conversation with Andrew Radonjic below: Samso's Conclusion In the lead-up to the trip to the project, Andrew Radonjic had been taking a position that the location of the project could be a game changer and I have to say that it does make sense. The highway is within 20km from the edge of the Jupiter Rare Earths Deposit, and there is a gas pipeline that is within the boundaries of the project. You will hear Andrew reiterating these points and as they approach the narrative of taking the project to the next step of potential mining, this will make an interesting story to follow. Chapters: 00:00 Start 00:55 Introduction to Mel Ashton 00:53 Updates on Jupiter 04:34 The Potential Size of the Jupiter Resource 08:55 Potential Strategy for Jupiter Project 11:52 Could there be other High-Grade "Cores"? 17:54 Discussion on Metallurgy 20:52 Location, Location Location 23:56 How can Venture take advantage of the REE Market? 25:57 What would the Exit look like for potential investors? 26:58 View on the Rare Earth Market over the next 12 months 34:41 News Flow 38:00 Tin 39:11 Conclusion PODCAST About Andrew Radonjic Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling over 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals. About Venture Minerals Limited Venture Minerals Ltd (ASX: VMS) has made a recent discovery at the Brothers REE Project including the Jupiter Clay Hosted Rare Earths Prospect. The Brothers Project includes the Iron Duke JV which hosts the Jupiter Prospect and is a potentially significant REE clay hosted discovery near Yalgoo in Western Australia. Brothers is well located to significant infrastructure including the port of Geraldton, Iluka’s Eneabba Rare Earths Refinery and Lynas Rare Earths currently operating Mount Weld Concentrator. The Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world’s largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system. The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, SensOre (ASX: S3N) (name changed to Premier1 Lithium ASX: PLC) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre-long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Coffee with Samso 194 is all about the Jupiter Rare Earth project and what a way for Andrew Radonjic to start 2024. Venture Minerals Limited (ASX: VMS) has an extremely well-rounded portfolio of projects and the inception of the Rare Earth project a couple of years ago has worked really well for the company. The Rare Earth sector may have come and gone for the ASX, but it has been a breath of fresh air to see the technical success of the Jupiter REE project. Anyone who has been following the ASX REE sector recently will know very well the bearish tone, but those who have been on the Venture Minerals wagon will think differently. You could put Venture Minerals on the top of the list for generating the most interest in the small-cap mineral explorers list. The interest in Venture started with the ASX release on 29th November 2023 (Jupiter Delivers over 7,000 ppm TREO assays from Maiden RC Drill Program) and the much anticipated second round of results was released on 8th March 2024 (Jupiter Drilling Continues to Deliver Broad High-Grade REE Mineralisation including a Record NdPr Intersection of over 5,000 ppm) which generated another rush on the share price. In this episode, Andrew Radonjic gives us an update on the Jupiter Rare Earth project and we discuss why he feels the project stands out from the crowd. Check out the conversation with Andrew Radonjic below: Samso's Conclusion The Samso platform has had the majority of the clay rare earth story on the ASX for the last couple of years. It has been a great journey from the beginning to now, where I could effectively call a mature understanding of the industry. If we are all on the same page, the understanding now is all about the metallurgical results, and the chemistry of extraction. In some way, we all know that the range of results from all the other clay REE players have been pretty consistent. There have not been too many outliers on the good or the bad end of the spectrum. If we consider this thought, the metallurgical results for Jupiter will be within range and there are some similarities to Mt. Weld, then Venture may have found themselves a project that could be more than interesting. As Andrew pointed out in the end, it is all about the location. The drilling results are on the top end of the scale, the location is in proximity to Mt. Weld and the plant by Iluka, the metallurgical results which are still outstanding will most likely come within range or better, and there are no logistical nor administrative obstacles in sight. With all that in mind, the Jupiter project must surely become a jewel in the DYOR category for ASX investors wanting an REE play in their portfolio. I encourage you to watch and take notes because as I have always mentioned on the Samso platform, the one economical project in many non-economical projects that are in the market comes once in a while, and if you can take the risk, do big-time DYOR now. Chapters: 00:00 Start 00:20 Introduction 00:53 Updates on Jupiter 02:46 Discussion about the next drilling phase 04:04 What makes Jupiter stand out? 09:25 VMS in the current market 15:44 About the metallurgy 21:06 What could lift the REE market? 23:53 For investors looking to position themselves in VMS 29:01 Other VMS projects 32:45 News flow 35:59 Conclusion PODCAST About Andrew Radonjic Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling over 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals. About Venture Minerals Limited Venture Minerals Ltd (ASX: VMS) is dedicated to discovering and developing world-class mineral deposits to meet the global demand for critical minerals vital to the green energy transition. Venture Minerals Ltd (ASX: VMS) has made a recent discovery at the Brothers REE Project including the Jupiter Clay Hosted Rare Earths Prospect. The Brothers Project includes the Iron Duke JV which hosts the Jupiter Prospect and is a potentially significant REE clay hosted discovery near Yalgoo in Western Australia. Brothers is well located to significant infrastructure including the port of Geraldton, Iluka’s Eneabba Rare Earths Refinery and Lynas Rare Earths currently operating Mount Weld Concentrator. The Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world’s largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system. The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, SensOre (ASX: S3N) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre-long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

As we prepare to wrap up 2023, what better way to end than to have a fresh Coffee with Samso? Episode 193 is with Brett Hazelden, Managing Director and CEO of OD6 Metals Limited (ASX: OD6). The focus of the Rare Earth story has shifted to the realm of chemistry. It is widely believed that companies will disclose mineral resources large enough to support their operations. However, the cost of the chemistry required to generate revenue and profits remains uncertain. In this episode of Coffee with Samso, Brett Hazelden presents a compelling argument for the OD6 Metals story. The market is currently muddled with confusion regarding the ultimate objective of these clay rare earth projects. Brett, an experienced metallurgist, shares his insights on the downstream process in this must-watch episode of Coffee with Samso. If you're interested in the Rare Earth sector, this is a valuable discussion for you. Samso's Conclusion If you have been following the Samso platform, you may have noticed an increase in Rare Earth stories recently. The rare earth industry is undoubtedly complex and confusing, with a cloud of uncertainty surrounding its future. However, after attending the rare earth conference in Canberra, I can confidently say that my doubts have been cleared. It's important to note that my optimism does not mean the sector is heading for a bull run. Rather, I believe that companies that remain focused on their work and can secure funding will benefit from the strong future demand for rare earths. Securing funding during this period is crucial. In a way, the current market can be seen as a reset for the valuation of rare earths. This is the perfect time to do your own research (DYOR) as an investor. If a commodity boom is on the horizon and rare earth metals are part of that trend, conducting thorough research now will be beneficial. Chapters: 00:00 Start 00:20 Introduction 01:03 2023 recap 03:32 Understanding the chemistry 07:14 Lowering the costs of production 09:45 Discussion about ESG 11:27 What is driving the economics of these clay projects? 15:46 Difference between Australia and South America - grade and processing route? 19:38 Takeaways from the Canberra REECon 26:16 What’s on the cards for 2024? 32:03 Discussion about the rare earth market price 35:14 News flow 36:04 Final thoughts 39:46 Conclusion PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Brett Hazelden Managing Director & Chief Executive Officer BSc, MBA, AICD Mr Hazelden is a Metallurgist who brings over 25 years’ experience serving the Australasian resources industry. His experience includes being a Company Director, Managing Director, CEO, Project Manager, Study Manager and originally a Metallurgist in an operating environment. Mr Hazelden brings a diverse range of capabilities from exploration, project development studies, research and development, project approvals, offtake agreements, equity raising, debt financing plus mergers and acquisitions. He has worked across multiple commodities including potash, gold, copper, zinc, lead, iron ore, tungsten, salt, diamond and now rare earth sectors. Most recently, Brett was the Co-founder and Managing Director/CEO of Kalium Lakes (ASX:KLL). Mr Hazelden was appointed as a Director on 1 April 2022. Mr Hazelden is not considered to be an independent Director as he is engaged in an executive capacity. About OD6 Metals Limited (ASX: OD6) OD6 Metals is an Australian public company with a purpose to pursue exploration and development opportunities within the resources sector. The Company holds a 100% interest in the Splinter Rock Project and Grass Patch Project which are located in the Goldfields-Esperance region of Western Australia, about 30 to 150km north of the major port and town of Esperance. The projects are considered prospective for clay rare earth elements (REEs), with the Company’s aim of delineating and defining economic resources and reserves to develop into a future revenue generating operational mine. Clay REE deposits are currently economically extracted in China who is the dominant world producer. Rare earth elements (in particular, Nd and Pr), are becoming increasingly important in the global economy, with uses including advanced electronics, permanent magnets in electric motors and electricity generators (such as wind turbines) and consumer electronics. Why OD6 Metals? Emerging REE major new clay province in WA, potentially competitive with China’s deposits. Dominant land position with over 4,800 km2 Located close to Esperance port, sealed roads and renewable energy infrastructure. Extensive Clay REE in 10 to 37m thick blanket over very large areas . Wide intersections of TREO with excellent Nd-Pr concentrations of 20% Multiple targets for potentially globally significant REE resources. Excellent regional metallurgy. Clay REEs are typically low capital intensity and high margin product. Significant supply shortage forecast due to rapid demand increase for renewable power, electric vehicles and electronics. Critical metals being prioritised by Governments around the world (need for diversity of supply away from China). Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

Coffee with Samso 192 has Andrew Radonjic talking Rare Earths at the Jupiter project. Venture Minerals Limited (ASX: VMS) is now at the crossroads of emerging as a Rare Earth player in what is a complex and ultimately future-proofing sector. I labeled Venture Minerals as a Targeted Diversified Mineral Explorer in my very first interview with Andrew Radonjic, the Managing Director, way back in October 2020, and this is another prime example of that business approach. The rare earth sector has had a lot of attention in the last 24 months and like all commodities, it is going through turbulent times. Samso has had the greatest privilege to have interviewed many of these stories over time and I see Venture Minerals as an interesting change to the current scene. On the back of the recent announcement by Venture Minerals on the 29th of November 2023, entitled Jupiter Delivers over 7,000 ppm TREO assays from Maiden RC Drill Program, the company has raised additional funding to work on the project. In the current market, this is a strong vote of confidence for the potential of the Jupiter REE project. In this episode, Andrew Radonjic provides us with his perspective on the project and offers valuable insights into the recent drilling results. By considering the project's historical exploration activities, viewers can gain a comprehensive understanding of why Venture Minerals believes in the future potential of this project. Check out the conversation with Andrew Radonjic below: Samso's Conclusion As I have mentioned, we have had a good amount of content that is related to the rare earth sector, and my thoughts, which are consistent with most commentators, is that every REE project is unique. The key is what is at the bottom line of the project. Does it make money when the cookie crumbles? The Jupiter target is a clay-hosted rare earth project. As Andrew mentioned, there has been limited metallurgical research conducted. However, for our purpose of understanding the project, we are now confident in considering it as a standard clay-hosted rare earth system. While it may not be a one-of-a-kind clay-hosted system, what sets it apart is its logistical aspects, as well as the potential grade and tonnage. Another distinguishing factor is the unique social license. Most of the other projects have to navigate private landowners and existing populations. Although it may not be immediately apparent, I believe that in the long run, this will significantly impact the bottom line. This does not imply that other projects will not be profitable. As I assess the industry landscape, I anticipate that the companies that endure in the long term will emerge as the ultimate victors. Fresh investors with more money in the bank to take positions in the rare earth sector, need to do your DYOR as it will go a long way to becoming a long-term player. Chapters: 00:00 Start 00:20 Introduction 00:54 What is happening with the Jupiter REE Target? 03:56 Does alkaline intrusion play a part in Jupiter? 06:50 Progress on the drilling at Jupiter. 14:11 What sets VMS apart from the others? 25:17 Comments for existing shareholders. 29:37 Why did the recent new investors buy into the VSM Story? 30:57 News flow 33:34 Conclusion PODCAST About Andrew Radonjic Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling in excess of 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals. About Venture Minerals Limited Venture Minerals Ltd (ASX: VMS) is dedicated to discovering and developing world-class mineral deposits to meet the global demand for critical minerals vital to the green energy transition. Venture Minerals Ltd (ASX: VMS) has made a recent discovery at the Brothers REE Project including the Jupiter Clay Hosted Rare Earths Prospect. The Brothers Project includes the Iron Duke JV which hosts the Jupiter Prospect and is a potentially significant REE clay hosted discovery near Yalgoo in Western Australia. Brothers is well located to significant infrastructure including the port of Geraldton, Iluka’s Eneabba Rare Earths Refinery and Lynas Rare Earths currently operating Mount Weld Concentrator. The Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world’s largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system. The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, SensOre (ASX: S3N) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre-long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Richard Brescianini is back with Coffee with Samso Episode 191 and shares with us the path forward with Heavy Rare Earths Limited (ASX: HRE). I have always said that Richard Brescianini, the Executive Director of Heavy Rare Minerals Limited, is the best person when it comes to understanding how the Rare Earth sector functions. Richard has had a long history of experience within the sector and in this Coffee with Samso, he shares with us what is happening with HRE and about the path forward in 2024. Investors are facing a reality check in the rare earth sector, as they search for viable contenders among the limited number of companies remaining. While there is a growing interest in pursuing "ionic" projects in Brazil, it is crucial for everyone to carefully evaluate the economic feasibility of such ventures. In this episode, Richard and I delve into the key factors that drive the success of a business. We explore the crucial role of acid in metal extraction, as using more acid leads to higher metal yields. However, we acknowledge that the cost of acid extraction poses a significant challenge, and it's important to consider all other aspects of the business as well. When it comes to Australian Clay Rare Earth projects, they may not possess all the advantageous properties typically associated with a strong REE project. However, they do offer lower jurisdiction risks, which in turn present challenges in establishing a sustainable infrastructure. It is essential for projects to maintain consistency across various aspects, including metallurgical factors and grade, within the deposit. Furthermore, we delve into the exploration updates on Duke and Perinjori projects. Our discussion revolves around the merits of the Duke project and the latest developments in its exploration efforts. Samso's Conclusion Investors and companies in the Rare Earth sector must adopt a long-term perspective on commercialization. It is widely acknowledged that working on clay rare earth projects has been a challenging and arduous journey. There have been concerns that companies promoting these projects will face unfavorable outcomes. The prevailing bearish sentiment in the equity market further reinforces these doubts. I must confess that I shared similar reservations. I questioned whether the demand and excitement surrounding this sector would be sustainable. However, my recent attendance at a Rare Earth Conference in Canberra completely changed my perspective. Over the course of three days, I was fully engaged and attentive, only missing one talk. The conference rekindled my enthusiasm for the sector and left me feeling invigorated. The primary reason is that a significant amount of money has already been invested. Additionally, there is substantial funding available to establish a new downstream chain outside of China. Prior to attending the conference, I heard a lot of talk, but it's important to approach such information with caution. However, after attending the conference, I am now convinced that the talk is legitimate and the demand for more rare earth elements (REE) is credible. While the establishment of the downstream process is not yet complete, progress has been made. The amount of money pledged to establish a non-China-aligned downstream chain is astonishing. The projected demand for REE in our electrification journey suggests that companies like HRE will have long-term viability. Therefore, for those interested in this sector, I recommend some DYOR and delving into what is happening beyond the noise of general news. Take the time to explore the developments in the real world of REE. Chapters: 00:00 Start 00:20 Introduction 01:10 Cowalinya Exploration Target 06:03 Could the geology create issues for your Exploration Target at Cowalinya? 09:05 All about the Duke Project 14:03 Do you think Duke could have a different REE chemistry? 17:24 New Project - Perenjori 22:32 Discussion about the clay-hosted space 27:21 A second supply chain for the rare earths market? 37:58 What are the immediate goals for HRE to monetise the business? 44:17 What could disrupt the planning? 47:21 What should investors be looking out for? 52:05 Conclusion PODCAST About Richard Brescianini Executive Director Richard commenced his career in mineral exploration with BHP Minerals in 1987 working in teams focused on the discovery of base and precious metal deposits across Australia and North America from offices in Brisbane, Perth, Toronto and Denver. Richard’s experience extends further, including his time working as the Director of the Northern Territory Government’s Geological Survey in Darwin, and being part of the executive management team for rare earths developer, Arafura Resources. About Heavy Rare Earths Limited (ASX: HRE) Heavy Rare Earths Limited (ASX:HRE) is an Australian rare earth exploration and development company. Rare earth materials are used in a wide array of technology and future facing applications, including smart phones, wind energy, and hybrid and electric vehicles. HRE’s key exploration project is Cowalinya, near Norseman in Western Australia. This is a clay-hosted rare earth project with a JORC Inferred Resource of 28Mt @ 625ppm TREO and a desirable rare earth composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths. The company has completed a 441 drill hole program confirming widespread occurrence of shallow, thick and/or high grade rare earth mineralisation. The Company anticipates a Mineral Resource update and an estimate Exploration Target for the project in Q3 2023. Cowalinya Project - Western Australia The Cowalinya rare earth project is located 70 km south-east of Norseman in Western Australia. It comprises a single 230 km2 exploration licence E63/1972 on unallocated crown land hosting dominantly granitic type rocks in the Central Biranup Zone of the Albany Fraser Orogen. The mineralisation being targeted is shallow, flat lying, supergene concentrations of rare earths present in the weathering profile overlying granitic basement. This mineralisation is similar in style to southern Chinese ionic rare earth clay deposits, the world’s main source of heavy rare earths. Although this type of rare earth deposit is low grade, low-cost open pit mining and simple inexpensive metallurgy make them profitable to exploit. The Cowalinya area was primarily chosen on the basis of historical drilling which indicated the presence of anomalous rare earths in fresh bedrock and higher grade supergene concentrations of rare earths in the overlying in-situ weathered saprolite profile. In June 2021 HRE drilled 109 aircore holes at Cowalinya by HRE discovered significant supergene concentrations of rare earths in two areas, Cowalinya South and North. The rare earths mineralisation, occurring as flat lying sheets within the in-situ clay-rich weathered saprolite, is contained within an average ~8-9 m thick layer which starts ~17-18 m below surface. Independent resource consultant JMCT Consulting was engaged to prepare and report Cowalinya’s maiden Inferred Mineral Resource estimate for the project in accordance with the 2012 JORC Code: 28 Mt @ 625 ppm TREO (Total Rare Earth Oxides) using a 300 ppm TREO-Cerium Oxide (CeO2) cut-off grade. Importantly, the resource has a desirable rare earths composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths, and very low average concentrations of radioelements (15 ppm ThO2, 5 ppm U3O8). Mr John Tyrrell of JMCT Consulting is the Competent Person for the Cowalinya Mineral Resource estimate (in accordance with 2012 JORC Code). TREO = La2O3+CeO2+Pr6O11+Nd2O3+Sm2O3+Eu2O3+Gd2O3+Tb4O7+Dy2O3+Ho2O3+Er2O3+Tm2O3+Yb2O3+Lu2O3+Y2O3. Magnet REOs = Pr6O11+Nd2O3+Tb4O7+Dy2O3 ; Totals may not add due to rounding ; Reported above a TREO-CeO2 cut-off grade of 300 ppm The resource at Cowalinya remains open in all lateral directions and currently covers only a small proportion (<1.5%) of the project tenement. Preliminary metallurgical test-work on 40 samples from the 2021 drilling program shows the rare earths are successfully brought into solution using a weak hydrochloric acid leach. Recoveries of >90% for some of the rare earths have been achieved. Upgrade of Mineral Resource Resource Exploration and Expansion Drilling Program – 2023 The Company has successfully completed a 441-hole resource exploration and expansion drilling program at Cowalinya (refer to ASX announcements). These assays confirmed the widespread occurrence of shallow, thick and/or high-grade rare earth mineralisation in clay-rich saprolite over a 14 x 3-kilometre area west and south-west of the Cowalinya South deposit (Figure 1). This Western Zone discovery is open to the north and northwest, has an average thickness of 11.3 metres, and includes the following significant drill intercepts (on a grade-thickness basis) reported during the quarter: 19 metres @ 3190 ppm TREO from 16 metres (AC225) 10 metres @ 2087 ppm TREO from 17 metres (AC221) 26 metres @ 1201 ppm TREO from 19 metres (AC360) 17 metres @ 1069 ppm TREO from 11 metres (AC223) 42 metres @ 790 ppm TREO from 12 metres (AC226) Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso Samso ASX stories are also through the Brilliant-Online channels. Subscribe to Brilliant Investments.

Coffee with Samso Episode 189 is with Mike Haynes, Managing Director and CEO of New World Resources Limited (ASX:NWC). In our previous conversation with New World Resources Limited (ASX:NWC) the focus was on getting mining happening. Today the mining process is in place. While they are currently undergoing necessary procedures, they are also actively pursuing highly promising exploration targets. There is a scarcity of stories on the Australian Stock Exchange (ASX) that revolve around copper, especially high-grade copper. The Antler project, within the copper mineral exploration industry, is widely regarded as a technically robust project. It can now be better classified as a near-producer story as the company progresses into the mine planning stage. Those readers who have watched the earlier Coffee with Samso episode of Mike Haynes introducing the Antler project would be familiar with the high-grade nature of the copper story in 2021 and 2022 (see below). Samso has been showcasing the New World Resources Limited story since March 2021. A VMS Story - The Antler High-Grade Copper Project - New World Resources Ltd(ASX:NWC) - Episode 79 New World Resources Limited (ASX: NWC) - A Near Term High Grade Copper Producer Story | CWS Ep. 166 I have full confidence that the Antler project of New World Resources would successfully pass a rigorous due diligence process. The abundance of technical information and the untapped potential of the resource are undeniable. The only obstacles that remain are the mining process and the stability of the copper price. In this episode, Mike brings to the attention of the Samso community the Antler project and the exciting prospects of other high-grade copper projects in their portfolio. Figure 1: Copper price chart. (source: www.tradingeconomics.com) Mike Haynes provides an overview of the company's upcoming plans, highlighting the exploration targets within the Antler project and the new Javelin project located approximately 75km south-east from Antler. The Javelin VMS project has shown promising exploration results thus far, prompting New World Resource's strong interest in commencing work. Notably, it exhibits robust multi-element anomalies that were defined in May 2023. Furthermore, the project's northern third, which was completed in July 2023, reveals exceptional IP anomalies, further substantiating the project's significance. According to Mike, the project has identified both shallow VMS and deeper 1.2km x 1.0km porphyry copper targets. New World Resources plans to initiate a drilling program in Q4 of 2023. Samso's Thoughts As mentioned earlier, New World Resources is a highly recommended company to include in your watchlist for thorough research. The current bearish sentiment in the market has depressed equity prices in the small-cap sector, which presents a hidden opportunity for new investors in New World Resources. For existing shareholders, this may be a favourable time to consider averaging down their investments. I recall my Coffee with Samso with Rick Rule (Commodities and Equities: Advice from Rick Rule - Episode 70) , where he shared the story of his investment in Paladin Energy Limited (35:54 Rick and Paladin - The story of Investing in Mineral Explorers). Despite the stock price dropping to 1c, he remained confident in the project's quality, the company's management, and the factual truth behind it. If you have watched all the episodes of Coffee with Samso featuring Mike Haynes, you would have noticed the consistent nature of the conversations. Antler stands out in the industry due to its rare technical expertise. When considering technical attributes and potential, the Golden Grove VMS deposit in Western Australia serves as a suitable comparison for Antler. If you are interested in learning more about New World Resources, please don't hesitate to send me an email. I will gladly forward it to Mike Haynes. I highly encourage engaging in a dialogue with the management team, as they are more than willing to take the time to address any queries you may have. Check out this Coffee with Samso with Mike Haynes from New World Resources Limited. Chapters: 00:00 Start 00:20 Introduction 01:15 Updates from New World Resources 02:24 The resource value 03:17 Upsides to the Antler exploration 05:33 Discussion about the recent scoping study 08:07 Discussion about Porphyries 10:36 The mining strategy 14:30 VMS belt clusters 20:16 The Javelin Project 23:48 The next set of drilling 27:45 Discussion about current commodities 30:20 Exceptional IP anomalies 37:29 Any possible risks? 40:34 News flow 43:38 Why should investors look at New World Resources? 45:03 Conclusion PODCAST About Mike Haynes Managing Director and CEO Mr Haynes has more than 25 years’ experience in the international resources industry. He graduated from the University of Western Australia with an honours degree in geology and geophysics and has explored a wide variety of ore deposit styles throughout Australia and extensively in Southeast and Central Asia, Africa, Europe, South and North America. Mr Haynes has held technical positions with both BHP Minerals and Billiton plc. He has worked extensively on project generation and acquisition throughout his career. During the past 17 years he has been intimately involved in the incorporation and initial public offerings of numerous resources companies, and in the ongoing financing and management of those and other companies. About New World Resources Limited New World Resources Limited is an Australian company focused on the exploration and development of mineral resources projects in North America. It is listed on the Australian Securities Exchange under the code NWC. On 14 January 2020 New World Resources Limited announced that it had executed an agreement that provides it with the right to acquire a 100% interest in the high-grade Antler Copper Deposit in Arizona, USA. In October 2021, after 18 months of exceptional results, New World exercised its option and took 100% ownership of Antler. About the Antler Copper Project Excellent Location • Located in a sparsely populated part of northern Arizona • Privately-owned land • 70% of all copper produced in the US is from mines in Arizona Proven VMS District • Cluster of 30-40 VMS deposits in northern Arizona; largest: • United Verde – mined 33Mt of ore @ 4.8% Cu (1883-1975) Excellent Infrastructure • 15km from rail and an interstate highway • Mains power to within 700m of the old headframe • 55km by road to Kingman (population ~30,000) • Benefits of existing infrastructure: - Cheaper to build a new mine - Cheaper to operate a mine Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. VMS (Volcanogenic Massive Sulfide) Deposits Explained In simple terms, Volcanic-associated Massive Sulphide (VMS) deposits are caused by underground metal-rich volcanoes rising and creating a cooking environment. I suggest you download this eBook which explains the VMS and How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google. Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Coffee with Samso Episode 190 is with Richard Brescianini, Executive Director of Heavy Rare Earths Limited (ASX: HRE). Over the past two years, the journey to comprehend the intricacies of the Rare Earth sector has been limited. The sudden surge in the REE sector has been clouded by a lack of understanding. Our initial encounter with the Rare Earth narrative on the Samso platform was a conversation with Brett Hazelden from OD6 Metals Limited. We all know that the Rare Earth story is not new. Companies such as Arafura Rare Earths Limited (ASX: ARU), Hastings Technology Metals Limited (ASX: HAS), Lynas Rare Earth Limited, and Northern Minerals Limited (ASX: NTU) have been actively involved in this industry for over a decade. There has been a recent surge of interest in the sector, specifically in Clay-hosted Rare Earth projects. These projects are focused on developing metallurgical flow charts, with the "ionic" styles leading the way. In simpler terms, the discussion revolves around whether the deposits are refractory or non-refractory. The learning journey in this field has been well-documented in various Coffee with Samso conversations, with recent Rare Earth stories. According to Richard Brescianini, we have overcome the hurdle of Ionic and Non-Ionic and are now entering the business end of the story. In this episode, Richard gives us an update on the Mineral Resource upgrade and what the numbers mean in terms of the business for Heavy Rare Earths Limited. Samso's Conclusion Heavy Rare Earths Limited is steadily progressing towards the production of a Rare Earth product, which will ultimately generate revenue for the company. The recent upgrade of the Mineral Resource demonstrates HRE's capability to become a significant player in the industry. Richard Brescianini, who possesses extensive knowledge of the sector, emphasises the importance of maintaining a Tier 1 grade for the materials processed in the plant. With his expertise, Richard will anticipate and overcome potential obstacles faced by all participants in this field. His experience will be crucial in attracting buyers for HRE's product. For those interested in gaining insights into the business aspects of the Rare Earth Elements (REE) sector, I highly recommend watching this informative Coffee with Samso interview with Richard. Chapters: 00:00 Start 00:20 Introduction 01:07 Richard updates 03:08 An upgrade in resource and grade 06:21 A natural mineralisation cut-off 06:47 What investors need to understand about resource grade and mill grade 07:43 Are there more high-grade pods in your project? 12:03 Grade/Thickness and Grade/Tonnage Curve 17:08 Is there a sweet grade spot in the project? 19:06 Metallurgical Flow Sheet 20:21 New metallurgical drilling samples 21:37 Aim to produce a mixed REE carbonate for potential customers 22:27 Giving reasons for potential customers to invest in HRE 22:59 Strategy to Brand HRE to potential customers 24:21 Branding HRE as a real REE producer 25:46 The market of REE, the upside, the current price of REE, and why it's rising 29:25 What is the sweet sustainable price for REE? 30:38 Upgrade in Mag REE for HRE 31:29 The importance of Magnetic REE 32:39 Recovery results tend not to change very much 33:29 Other projects 34:49 Exploration Target for Cowalinya - Pending 35:10 Why buy HRE? 37:43 Focus should be on the business 38:59 Conclusions PODCAST About Richard Brescianini Executive Director Richard commenced his career in mineral exploration with BHP Minerals in 1987 working in teams focused on the discovery of base and precious metal deposits across Australia and North America from offices in Brisbane, Perth, Toronto and Denver. Richard’s experience extends further, including his time working as the Director of the Northern Territory Government’s Geological Survey in Darwin, and being part of the executive management team for rare earths developer, Arafura Resources. About Heavy Rare Earths Limited (ASX: HRE) Heavy Rare Earths Limited (ASX:HRE) is an Australian rare earth exploration and development company. Rare earth materials are used in a wide array of technology and future facing applications, including smart phones, wind energy, and hybrid and electric vehicles. HRE’s key exploration project is Cowalinya, near Norseman in Western Australia. This is a clay-hosted rare earth project with a JORC Inferred Resource of 28Mt @ 625ppm TREO and a desirable rare earth composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths. The company has completed a 441 drill hole program confirming widespread occurrence of shallow, thick and/or high grade rare earth mineralisation. The Company anticipates a Mineral Resource update and an estimate Exploration Target for the project in Q3 2023. Cowalinya Project - Western Australia The Cowalinya rare earth project is located 70 km south-east of Norseman in Western Australia. It comprises a single 230 km2 exploration licence E63/1972 on unallocated crown land hosting dominantly granitic type rocks in the Central Biranup Zone of the Albany Fraser Orogen. The mineralisation being targeted is shallow, flat lying, supergene concentrations of rare earths present in the weathering profile overlying granitic basement. This mineralisation is similar in style to southern Chinese ionic rare earth clay deposits, the world’s main source of heavy rare earths. Although this type of rare earth deposit is low grade, low-cost open pit mining and simple inexpensive metallurgy make them profitable to exploit. The Cowalinya area was primarily chosen on the basis of historical drilling which indicated the presence of anomalous rare earths in fresh bedrock and higher grade supergene concentrations of rare earths in the overlying in-situ weathered saprolite profile. In June 2021 HRE drilled 109 aircore holes at Cowalinya by HRE discovered significant supergene concentrations of rare earths in two areas, Cowalinya South and North. The rare earths mineralisation, occurring as flat lying sheets within the in-situ clay-rich weathered saprolite, is contained within an average ~8-9 m thick layer which starts ~17-18 m below surface. Independent resource consultant JMCT Consulting was engaged to prepare and report Cowalinya’s maiden Inferred Mineral Resource estimate for the project in accordance with the 2012 JORC Code: 28 Mt @ 625 ppm TREO (Total Rare Earth Oxides) using a 300 ppm TREO-Cerium Oxide (CeO2) cut-off grade. Importantly, the resource has a desirable rare earths composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths, and very low average concentrations of radioelements (15 ppm ThO2, 5 ppm U3O8). Mr John Tyrrell of JMCT Consulting is the Competent Person for the Cowalinya Mineral Resource estimate (in accordance with 2012 JORC Code). TREO = La2O3+CeO2+Pr6O11+Nd2O3+Sm2O3+Eu2O3+Gd2O3+Tb4O7+Dy2O3+Ho2O3+Er2O3+Tm2O3+Yb2O3+Lu2O3+Y2O3. Magnet REOs = Pr6O11+Nd2O3+Tb4O7+Dy2O3 ; Totals may not add due to rounding ; Reported above a TREO-CeO2 cut-off grade of 300 ppm The resource at Cowalinya remains open in all lateral directions and currently covers only a small proportion (<1.5%) of the project tenement. Preliminary metallurgical test-work on 40 samples from the 2021 drilling program shows the rare earths are successfully brought into solution using a weak hydrochloric acid leach. Recoveries of >90% for some of the rare earths have been achieved. Upgrade of Mineral Resource Resource Exploration and Expansion Drilling Program – 2023 The Company has successfully completed a 441-hole resource exploration and expansion drilling program at Cowalinya (refer to ASX announcements). These assays confirmed the widespread occurrence of shallow, thick and/or high-grade rare earth mineralisation in clay-rich saprolite over a 14 x 3-kilometre area west and south-west of the Cowalinya South deposit (Figure 1). This Western Zone discovery is open to the north and northwest, has an average thickness of 11.3 metres, and includes the following significant drill intercepts (on a grade-thickness basis) reported during the quarter: 19 metres @ 3190 ppm TREO from 16 metres (AC225) 10 metres @ 2087 ppm TREO from 17 metres (AC221) 26 metres @ 1201 ppm TREO from 19 metres (AC360) 17 metres @ 1069 ppm TREO from 11 metres (AC223) 42 metres @ 790 ppm TREO from 12 metres (AC226) Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso Samso ASX stories are also through the Brilliant-Online channels. Subscribe to Brilliant Investments.

In this episode of Coffee with Samso 188, we have David Groombridge, CEO of Riedel Resources Limited (ASX: RIE) sharing with us an update on exploration activities at the Kingman Project. The Riedel Resources story is one of the few real exploration plays on the Australian Stock Exchange (ASX). In this episode of Coffee with Samso, David Groombridge gives us a quick update on the project and what shareholders and potential investors should be looking out for in the coming months. Listen to our coffee conversation with David Groombridge here: Samso's Conclusion The Riedel journey exemplifies a typical mineral exploration experience. If I had a dollar for every time I mentioned this phrase, "a typical mineral exploration journey," I would be generously compensated. Unfortunately, in today's market, it is disheartening to acknowledge that there is a prevailing misconception within the investing community that profits can be achieved in a matter of weeks. Investors are solely focused on corporate maneouvers that yield shareholder gains, disregarding genuine mineral exploration outcomes. There is a distinct lack of genuine investor interest in the market. Even the mention of lithium, once considered a magical term, no longer holds the same allure. It is now recognised that possessing a pegmatite with spodumene is no longer a guaranteed path to share price appreciation. This means recognising that corporate support and favouritism are the only things that truly matter. It emphasises the importance of the individuals driving the narrative. While it may sound pessimistic, there is hope for a positive outcome. I firmly believe that time is the remedy that other "patient" investors must embrace. The crucial factor for the average investor is allowing projects to develop over time. The current bearish sentiment in the market has led to many companies being significantly undervalued. The key is to align yourself with a well-managed story that possesses the technical merits to thrive during the next bullish market phase. In my opinion, Riedel is one of those companies. Mike Bohm is a no-nonsense operator and the Kingman project is full of potential. The company is now established in the US and as David Groombridge puts it, there are opportunities out there for the taking. It is important to keep in mind that a bear market is a time when projects can be easily dislodged from their positions. The most promising projects are often acquired during bear markets, and they reap the rewards of their hard work when the bull market brings favourable conditions. Tune in to the Riedel story here. Chapters: 00:00 Start 00:49 Update from David Groombridge. 01:22 Any new Learnings at The Kingman project. 02:24 The Tintic - Jims Structural Corridor. 03:19 Any resemblance to Mineral Park? 05:04 What is the Exploration strategy now? 06:25 Exploration is a long-term proposition. 07:32 Any concerns with regulatory issues? 08:04 What would make investors worry and celebrate the Riedel story? 09:25 Any potential acquisition in play? 10:27 When will the resource come out? 10:48 Conclusion PODCAST David Groombridge Chief Executive Officer Qualifications: MEconGeol David is a geologist with a Masters in Economic Geology from the University of Tasmania. His career incorporates 20 years mining industry experience in multiple ore deposit styles, including nickel sulphides, tungsten, SedEx (sedimentary exhalative) and orogenic gold in both underground and surface roles, primarily in resource development and mineral exploration. He spent 12 years across senior management roles at Tectonic Resources and Silver Lake Resources before becoming Exploration Manager for Medallion Metals, where he has worked since 2016, focused on the 1.62Moz Au Eq. Ravensthorpe Gold Project. This WA-based project is a structurally hosted, high-grade gold system similar to the Kingman Project. About Riedel Resources Limited Riedel Resources (ASX: RIE) is an emerging mineral exploration company focused on advancing the historic high-grade Kingman Gold Project in North-West Arizona. The Kingman Project covers an area of historic gold-silver-lead-zinc mines that were in production from the 1880’s through to the early 1940’s. Diamond drilling in late 2019 confirmed the high grades seen in historic mining. RC drilling in early 2021 hits extensive gold, silver, zinc and lead mineralisation including 3.8m at 98.9 g/t gold and 151 g/t silver from 20.6m at Tintic and 4.6m at 8.39g/t gold from 100.6m at Merrimac. Further drilling subsequently confirmed gold, silver, zinc and lead mineralisation in multiple veins at Jim’s. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Subscribe to Samso Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

When it comes to a remarkable mineral discovery in Australia, the search for the Argyle Diamond Mine in the Kimberley Region of Western Australia stands out. The discovery of the Argyle Diamond Mine was unparalleled in every aspect of the project. Episode 115 of Samso Insights is all about Ewen Tyler and how he narrates a discovery of a lifetime. Ewen Tyler is the man who is credited as the "Father of the Argyle Diamond Mine". I will have to say that as much as all Discovery Journeys is a team game, there had to be a driver and a man to take the heat. The diamond project in Australia was not only the largest and highest quality, but also marked a significant milestone as the first major diamond deposit discovery outside the De Beers cartel and the Russian Federation. A History of the Argyle Diamond Mine (Source: Wikipedia) The Argyle Diamond Mine (Figure 1) was a diamond mine located in the East Kimberley region in the remote north of Western Australia. Argyle was at times the largest diamond producer in the world by volume (14 million carats in 2018[1]), although the proportion of gem-quality diamonds was low. It was the only known significant source of pink and red diamonds (producing over 90% of the world's supply), and additionally provided a large proportion of other naturally coloured diamonds, including champagne, cognac, and rare blue diamonds. Mining operations ceased in November 2020, after 37 years of operations and producing more than 865 million carats of rough diamonds. Mine operator Rio Tinto plans to decommission the mine and rehabilitate the site at least through 2025.[2][3] The Argyle diamond mine is also notable for being the first successful commercial diamond mine exploiting a volcanic pipe of lamproite, rather than the more usual kimberlite pipe; much earlier attempts to mine diamonds from a lamproite pipe in Arkansas, United States, were commercially unsuccessful. The Argyle mine is owned by the Rio Tinto Group, a diversified mining company that also owns the Diavik Diamond Mine in Canada and the Murowa diamond mine in Zimbabwe. My Fascination for Diamonds and Diamond Exploration This episode of Samso Insights will be remembered as one of my favorites. It was a true privilege to have the opportunity to hear Ewen Tyler's remarkable story. His ability to persevere in the search for a diamond source is truly extraordinary. I have been fascinated by diamond exploration since my time working on my Honours Thesis at the University of Western Australia. In fact, my interest in gems predates my university experience. As Ewen eloquently stated, "Only Fools Will Explore for Diamonds." This sentiment is shared by those who have experienced the challenges and hardships of diamond exploration. It is safe to say that only passionate explorers can truly appreciate the immense difficulties faced by diamond explorers, often with little to no reward. Sit back and prepare to be captivated by one of the most compelling tales of persistence and gamesmanship in the pursuit of a "potential" diamond find. This interview has largely been guided by Stuart Kells' book, "Argyle - The Impossible Story of Australian Diamonds" shedding light on the previously unknown business aspects of the Olympic Dam discovery. Kells' narrative provides invaluable insights into the boardroom dynamics that shaped this remarkable journey. Purchase the book on our Amazon Affiliate link: Samso's Conclusion Today, the diamond exploration industry is virtually non-existent, with only one noteworthy active company remaining. The focus has shifted to existing miners, as the cost of exploration has become prohibitively high. In the realm of mineral exploration, the risk-reward ratios are no longer worth discussing. The story of Argyle is inspired by the renowned pink diamond, but as Ewen Tyler explains, these stones were not initially considered. The success of Argyle lies in its remarkable marketing efforts, which effectively conveyed the value of the stones and made the mining process viable. In my view, nothing surpasses the beauty of a well-coloured stone (Figure 2). While some may argue that a high-quality white stone is superior, a truly stunning stone is one that makes a statement. Its value lies in the story it tells and the history it carries. By watching this interview, you will understand that the value of the Argyle stones was primarily derived from the captivating Argyle story. Chapters: 00:00:00 Start 00:00:15 Introduction 00:01:00 The Ewen Tyler Story - The beginning 00:13:02 Rex Prider Factor 00:14:46 Start of the search for diamonds in Australia 00:17:21 Introduction of Rio Tinto 00:18:22 Path to Ellendale 00:20:14 Business of Ellendale 00:20:52 Discovery of diamonds in Smoke Creek 00:21:25 Bringing context into the search area 00:22:16 Team Argyle 00:24:41 Arrangement with the Western Australian Government 00:28:27 The Rio Tinto Lifeline 00:29:42 Early signs of the discovery of Argyle 00:31:34 Waiting Game - The Process and The Secrecy Game 00:33:53 Ewen earned the title of The Father of Argyle Diamond Mine 00:37:02 Arriving at Argyle 00:38:05 Unbelievable Grade of Diamonds 00:39:43 Smoke Creek and Limestone Creek - First sighting of the Argyle Pink Diamond 00:40:42 The Mythical Value of the Pink Diamonds for Argyle 00:42:50 Economic Study of the Argyle Diamond Mine 00:43:17 Funding the mining of Argyle Diamonds 00:50:08 First Nation Discussions 00:53:47 The Birth of the Marketing Gunnies of the Argyle Diamonds 01:00:31 Webb Diamond Project 01:01:28 Other sources of diamond projects 01:03:49 Ewen Thoughts on Mineral Exploration 01:05:34 Importance of the Team in Mineral Exploration 01:07:04 Is there an Impossible Exploration Discovery? 01:08:53 Conclusion PODCAST Reference: Zimnisky, Paul (21 May 2018). "Global Diamond Supply Expected to Decrease 3.4% to 147M Carats in 2018". Kitco. Retrieved 9 November 2020. Rachminov, E. (2009). The Fancy Color Diamond Book: Facts and Secrets of Trading in Rarities. New York: Diamond Odyssey. ISBN 978-9659149902. ^ "Pink Diamonds: Origins and Locations". VMKdiamonds. Retrieved 25 July 2023. About Ewen Tyler AM Born in England in 1928, Ewen was educated in Western Australia and completed an Honours Degree in Geology at the University of Western Australia in 1949. He went to Tanganyika in 1950 as a geologist at the Geita Gold Mine, then the largest producer in East Africa. He left as the Underground Manager in 1958. He went to London in 1959 as an economic geologist doing mining valuations. The affairs in Africa brought about by independence led to him to bring a delegation of Belgian mining men from Union Miniere du Haut Katanga to Australia, to look for investment opportunities. He returned to Australia in 1969 to see how they were getting on, and amongst other things start a search for platinum and diamonds on a low-key basis. Platinum was a failure but after ten years of searching, he found the Argyle Diamond Mine. He was the Technical Director of Ashton Mining from its foundation. He was made a Member of the Order of Australia (AM) in 1991 for "Services to the Australian diamond mining industry and the community. In 1992 Ewen Tyler received The Clunies Ross National Technology Award for The Outstanding Application of Science and Technology. He was subsequently asked to chair a number of exploration companies. Clunies Ross National Science and Technology Award The Clunies Ross National Science and Technology Award was first awarded in 1991, and was established under the Ian Clunies Ross Memorial Foundation. The Award is presented to people who have made major contributions to science and its application for the economic, social or environmental benefit of Australia. From 2002 the Award was administered by the Australian Academy of Technological Sciences and Engineering: the Award is sometimes referred to as the ASTE Clunies Ross Award. Between 1991 and 2015 multiple Awards were presented each year. In 2015 the Academy reorganised the Awards into three categories: the Clunies Ross Entrepreneur of the Year; the Clunies Ross Knowledge Commercialisation Award; and the Clunies Ross Innovation Award. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso Samso ASX stories are also through the Brilliant-Online channels. Subscribe to Brilliant Investments.

Episode 187 of Coffee with Samso is with Guy Le Page, Non-Executive Director of Mount Ridley Mines Limited (ASX: MRD). Mount Ridley is now at the business end of the Rare Earth journey. Mount Ridley Mines is now focusing on the flow chart of the REE business. This is the money end, can you make the processing part cash flow positive? When I had my first Coffee with Samso with Guy Le Page, in July 2022 (Mount Ridley Mines Limited (ASX:MRD) - A Rare Earth Story.), it became evident that the company had a strong focus on optimising their flow chart. The company was confident in their ability to achieve the desired tonnage and grade, but their primary emphasis was on the final stage. In my view, one of the major benefits for companies like Mount Ridley is their project's location in the Esperance region. Numerous discussions have highlighted the region as the ideal site for the government to establish a Rare Earth Hub. Check out the conversation in this Coffee with Samso and, as I always encourage, DYOR. Chapters 00:00 Start 00:20 Introduction 01:10 Updates on the Mia Project 02:45 Beneficiation Results 03:55 Leach Test Results 04:59 Is Mia the main focus of Mount Ridley? 06:01 Mia prospect air-core drilling 06:37 Discussion about the soft REE market 09:05 Q&A from the public 09:19 Is MRD still going to list on the Frankfurt Exchange? 09:46 What is MRD’s strategic roadmap beyond 2023? 10:59 How is MRD taking a position for success amongst Esperance peers? 11:59 Is using HCL costly? And what about government grants? 13:03 Has MRD determined the controls in the clay-hosted REE project? 15:24 Prediction of the path of the REE market as we move forward 17:01 What makes MRD stand out? 18:20 Discussion about the REE market 20:17 Conclusion Samso's Conclusion When investing in the Clay Rare Earth sector, it is crucial to consider the economic viability of the processing flow sheet, and, while the industry has yet to determine its profitability, this does not mean it won't become a viable option. However, it is important to acknowledge that the industry is still in its early stages, and there will be a steep learning curve filled with uncertainty. The industry has successfully identified the process of leaching out the Rare Earth Elements (REE), but the economic outcome in terms of profitability remains uncertain. The REE sector, including both hard rock and "Clay/ionic/alluvial" types, has gained attention in investment circles due to recent geopolitical developments. China's dominance in this sector is widely recognised and understood. The previous discussion on REE in the investment community was short-lived in 2010, as the market experienced rapid fluctuations. However, the current rise of the REE sector has shown more resilience, having been present for a couple of years, largely due to the new "cold war" with China. Balancing the REE sector will require time, and investors in this sector must cultivate patience, akin to the patience required for fishing. It is frustrating to continually emphasize that mining projects are measured in terms of years to decades, while investors, particularly new ones, expect quick results within weeks or months. Unfortunately, such quick results are unlikely to occur. Regarding Mount Ridley, they have a solid strategy, and recent results indicate a viable business. However, the investment community needs to learn to be patient and learn to "PARK" their money. PODCAST About Guy Le Page Non-Executive Director B.A., BSc (Hons), MBA, MAusIMM, FFIN Mr Le Page is currently a Director & Corporate Adviser of RM Corporate Finance specialising in resources. He is actively involved in a range of corporate initiatives from mergers and acquisitions, initial public offerings to valuations, consulting and corporate advisory roles. Mr Le Page was Head of Research at Morgan Stockbroking Limited (Perth) prior to joining Tolhurst Noall as a Corporate Advisor in July of 1998. As Head of Research, Mr Le Page was responsible for the supervision of all Industrial and Resources Research. As a Resources Analyst, Mr Le Page published detailed research on various mineral exploration and mining companies listed on the Australian Securities Exchange. The majority of this research involved valuations of both exploration and production assets. Prior to entering the stockbroking industry, he spent 10 years as an exploration and mining geologist in Australia, Canada and the United States. His experience spans gold and base metal exploration and mining geology, and he has acted as a consultant to private and public companies. This professional experience included the production of both technical and valuation reports for resource companies. Mr Le Page holds a Bachelor of Arts, a Bachelor of Science and a Masters’ Degree in Business Administration from the University of Adelaide, a Bachelor of Applied Science (Hons) from the Curtin University of Technology and a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia. About Mount Ridley Mines Limited (ASX:MRD) Mount Ridley Mines Limited is undertaking the exploration of a significant deposit of valuable clay-hosted rare earth elements in Western Australia. The Project was initially acquired for its nickel and copper sulphides potential and is now recognised as being prospective for ionic clay REE deposits. Currently, this style of deposit is mined and processed only in China and Myanmar. In November 2020 Mount Ridley Mines Limited (“MRD”) commenced a review of data for its namesake Mount Ridley Project and surrounding area. The review concluded that areas of the Biranup and Nornalup geological provinces in south-eastern Western Australia have the potential for REE mineralisation, and in particular, the style of mineralisation referred to as Ionic Adsorption Clay (IAC-REE). Globally, deposits of IAC-REE are most significant in southern China and are the world’s main source of heavy Rare Earth Elements. The Project REE mineralisation occurs as large, horizontal, near surface, sheet-like lenses up to a depth of 89 metres. REE mineralisation is interpreted to be present within the in-situ saprolite clay horizon. Patchy lower grade zones occur within transported cover which may vector towards stronger REE mineralisation deeper within the regolith. Geological Survey of Western Australia (DMIRS) mapping [Figure1] shows that the Mount Ridley Project REE mineralisation occurs within the weathered mantle (regolith) of the Recherche Super-suite, which is described as “granitic and mafic gneiss; may include intrusions of Esperance Super-suite”. While the source of the REE mineralisation is currently unknown, a detailed sample and litho-geochemistry dataset from bottom of hole aircore samples has been established which includes whole-rock chemical analyses, sample pulps and some end-of-hole air core samples. These samples and data are being studied by the Company’s consultant geochemist to identify the primary rock-type and whether units are REE-enriched. Re-assay of 950 air core samples (162 pending) returned significant REE values over an apparent strike in excess of 25 km with over 20 samples returning >1,000 ppm Mineralisation remains open in all directions with a peak value so far at the Keith’s Prospect from MRAC0711 with 10,461ppm (1.05%) from 23m downhole. Significant REE intersections have been identified and grouped into 5 prospects – Winston’s, Keith’s, The Lake, Tyrell’s and Marcellus. Planning underway for a 25,000m aircore program to test newly acquired tenements in addition to step-out and infill holes. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google. Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

In Episode 186 of Coffee with Samso, Dr Mike Jones, the Managing Director of Impact Minerals Limited (ASX: IPT), educates us on the ins and outs of the HPA business. The HPA (High Purity Alumina) story for Impact Minerals is now all about the economic process of making HPA. There are no longer any questions on the tonnage or the grade. In simple terms, the company is at the business end of the mineral resource sector. One of the key aspects of understanding Impact Minerals is to have a clear view of the company's business. Impact is in the business of HPA and what that means is that it needs to deliver High Purity Alumina in the 3N or 4N level (Figure 1). When considering companies like Impact Minerals, the initial association is often with mineral exploration. However, it is important to view Impact from a fresh perspective. In this episode, Dr. Mike Jones discusses the company's current focus on the Pre-Feasibility Study (PFS) phase, which aims to determine the profitability of the Lake Hope HPA project. This shift in focus highlights Impact's commitment to reaching a stage of financial success, distinguishing it from the negative reputation often associated with mineral exploration companies. Listen to our coffee conversation with Dr. Mike Jones here: Samso's Conclusion Impact Minerals is a company that often goes unnoticed despite its promising projects. Currently, they are actively promoting the Lake Hope project, which has been discussed extensively by Mike during the past two Coffee with Samso sessions. It is evident that the Lake Hope HPA project holds significant value for the company. Impact Minerals Limited (ASX: IPT) - A Low Cost HPA story in Western Australia. It is worth mentioning that Impact Minerals' Broken Hill project was among the six projects worldwide selected for the prestigious BHP Xplor program. On 17th of January 2023, the company issued a release providing further details about their participation in the BHP Xplor program. BHP Xplor, an accelerator program introduced by BHP in August 2022, is designed to help provide participants with the opportunity to accelerate their growth and the potential to establish a long-term partnership with BHP and its global network of partners. Impact received up to US$500,000 in cash payments from BHP over the next six months and gained access to a network of internal and external experts to help guide development in the technical, business, and operational aspects of the company. This means that the management of Impact demonstrated credibility by successfully participating in and gaining acceptance for the Broken Hill project. This is a significant achievement, as only six recipients were chosen for this program, indicating a high level of quality. While the market trader may perceive Impact Minerals' market capitalisation of 34.37M as high, there is an underlying value that will yield positive results in the future. The Arkun project, which we discussed in a recent episode of Coffee with Samso, is located in a jurisdiction occupied by Tier-1 resource companies like Anglo-American. This provides strong evidence of its prospectivity (Figure 2). The Lake Hope project is currently in the "Feasibility" stage, and the initial excitement surrounding it has diminished in the market. However, this does not undermine the value that Impact Minerals is creating for its shareholders. There are two aspects of Impact Minerals that I appreciate. Firstly, the Lake Hope project is undeniably the company's flagship at the moment. Secondly, there is potential for significant growth from the Arkun and Broken Hill projects. Tune in to Mike's thoughts here. Chapters: 00:00 Start 00:20 Introduction 01:20 Updates from IPT 02:16 Economical parameters that make an HPA project viable 05:56 All about High Purity Alumina 07:54 The Cost Curve Analysis 11:23 Discussion about entry into the HPA market 12:43 The HPA space after the commodity market softening 14:07 The market for HPA 16:04 The Arkun Project 20:51 The Forward Plan 24:52 Is Lake Hope is still the Perfect Orebody? 25:33 How should investors view Impact? 26:55 Why should investors believe that Impact will deliver the end story? 29:00 With the current interest rate trend, is it a good time for companies like Impact Minerals? 30:55 Why should investors invest in Impact Minerals? 31:48 Conclusion PODCAST About Dr Mike Jones Qualifications: PhD, MAIG Dr Jones completed undergraduate and post-graduate studies in Mining and Exploration Geology at Imperial College, London. His Ph.D work on gold mineralisation saw him move to Western Australia in 1988 to work for Western Mining Corporation exploring for gold and nickel deposits in the Yilgarn. From 1994 he consulted to the exploration and mining industry specialising in the integration of geological field mapping and the interpretation of geochemical, geophysical and remotely sensed data for target generation. Dr Jones has worked on over 80 projects both in greenfields and near mine exploration in a wide variety of mineralised terrains and was the founding director of Lithofire Consulting Geologists in Perth, Australia. He was also the team leader during the discovery of a significant gold deposit at the Higginsville Mining Centre, near Kalgoorlie and an iron ore deposit near Newman, both in Western Australia. About Impact Minerals Minerals Limited Impact Minerals Limited (ASX: IPT) is an exploration company listed on the ASX in November 2006. The Company manages extensive tenement holdings (>4,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGMs. The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with the aim of building profitable mining operations. As a well-established company with a strong presence in the industry, Impact's projects, such as the Broken Hill and Arkun projects, are of significant importance and would be considered major endeavors in any other ASX companies. The Broken Hill project, situated just 20km away from the renowned Broken Hill silver-lead-zinc mine in New South Wales, is a Ni-Cu-PGE project (Figure 1 and Figure 2). The geology of this project holds immense potential, making it an attractive prospect for investors and enthusiasts alike. As an observer, I have been closely following Impact Minerals and their projects for quite some time. Impact has shown that the very high grade palladium and platinum mineralisation at the Red Hill, Platinum Springs and Moorkaie Prospects and the Iron Oxide Copper Gold (IOCG) mineralisation at the Copper Blow Prospect (ASX:SCI) are hosted by and related to alkaline magmatic rocks (Figure 2), (ASX Announcement 13th December 2018). Figure 2: Location of alkaline magma trends in the Broken Hill area. The Little Broken Hill to Moorkaie Trend contains rocks of potassic ultramafic to alkaline gabbro composition. The Copper Flat to Staurolite Ridge Trend contains rocks of alkaline gabbro to carbonatite composition. An offset of the Copper Blow Trend is interpreted to the south of the Thackeringa Fault Zone. (Source: Impact Minerals Limited) The Arkun project (Figure 3) which covers about 850 square kilometres is between York and Corrigin, which is approximately 100 km east of Perth. The project was first identified as an area of anomalous nickel-copper-gold anomalies in publicly available regional geochemistry data sets. What I like about this project is that it is now considered to be in a mobile belt that is prospective for "Julimar" type mineralisation. The discovery of Julimar has now opened up this whole region. A subsequent interpretation of regional magnetic data by Impact has identified the area as lying within a major deformation zone or mobile belt that trends NW-SE from the Moora-Julimar-Yarawindah area through Arkun and which may contain deformed and metamorphosed equivalents of those rocks. This belt is generally not recognised in many regional geology maps and yet is self-evident in the magnetic data. This is a significant breakthrough in understanding for Impact Minerals Limited. The BHP Xplor Program Impact Minerals has been selected to take part in the prestigious BHP Xplor program, showcasing their exceptional Broken Hill project. This recognition not only highlights the project's outstanding quality but also acknowledges the remarkable efforts and achievements of the company. Considering the rigorous selection process and the multitude of projects submitted, being chosen is a true testament to Impact Minerals' positive impact. The Lake Hope HPA Project will change the future of Impact Minerals Limited. The Lake Hope Project covers numerous prospective salt lakes between Hyden and Norseman in southern Western Australia, a Tier One jurisdiction (Figure 4). The project covers about 238 sqkm and are all owned by the vendor, Playa One. The Lake Hope area has unique climatic and geological characteristics that have resulted in the formation of what is probably a globally unique deposit of aluminium-rich material within the surficial clay layers of two small salt lakes, or “pans”, in the Lake Hope playa system. The lake clays, which are only up to a few metres thick, have unique chemical and physical properties and consist almost entirely of aluminium-bearing minerals that are plasticine-like in consistency and can be easily sampled with hand-held augers and push tubes (Figure 5). In addition, particle size distribution analysis demonstrates that virtually all the minerals are less than 16 microns and 60% to 80% occur at grain sizes of less than 5 microns (Figure 6). These unique characteristics have produced a near-perfect mineral deposit: a very high-value end product whose parent ore is: Very soft and shallow, allowing for extremely cheap free-digging with limited infrastructure requirements, no pre-stripping, no selective mining, a tiny environmental footprint, and limited rehabilitation requirements. Naturally fine-grained with no need for crushing and grinding, allowing for transport to an offsite processing facility that can be built on existing industrial sites (Figure 4). In essence, this is Direct Shipping Ore (DSO). Comprised of a few minerals that require only simple washing before acid leaching, thus allowing for low-cost straightforward metallurgical processing. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

Coffee with Samso Episode 184 is with Julian Ford, CEO of Riversgold Limited (ASX: RGL) updating us on Riversgold's exploration activities since the last conversation in March 2023. Jump straight to the interview In our previous conversation, we discussed Riversgold Limited as a lithium explorer that I found interesting. One of the reasons I liked them is because they were among the few companies actively engaged in genuine mineral exploration for lithium. It's important for people to understand that the recent discoveries in the lithium sector have largely come from reevaluating previous exploration efforts. Companies have revisited their drill cores and discovered that the historical drilling had indeed encountered pegmatites. Samso is not begrudging of the success of these companies, such as the Mount Holland Lithium project, which is now privately owned and operated by Covalent Lithium. Riversgold, on the other hand, continues its exploration activities in search of valuable lithium-bearing pegmatite. What I find interesting about Riversgold is their Northern Zone project. When I was researching this topic, I initially found their release titled Farm-in to Significant Porphyry Hosted Gold Project a bit confusing because the project had yielded promising results. The company is proceeding cautiously to ensure the reliability of these results, which I believe demonstrates prudent management. Julian, in particular, discusses the project and takes a measured view of its potential. What does Porphyry mean? Here is a description of what a porphyry deposit means from Earth Science Australia: The major products from porphyry copper deposits are copper and molybdenum or copper and gold. The term porphyry copper now includes engineering as well as geological considerations; It refers to large, relatively low grade, epigenetic, intrusion-related deposits that can be mined using mass mining techniques. Geologically, the deposits occur close to or in granitic intrusive rocks that are porphyritic in texture. There are usually several episodes of intrusive activity, so expect swarms of dykes and intrusive breccias. The country rocks can be any kind of rock, and often there are wide zones of closely fractured and altered rock surrounding the intrusions. As is described following, this country rock alteration is distinctive and changes as you approach mineralization. Where sulphide mineralization occurs, surface weathering often produces rusty-stained bleached zones from which the metals have been leached; if conditions are right, these may redeposit near the water table to form an enriched zone of secondary mineralization. What is the significance of a Porphyry deposit? Based on my experience, it is quite rare to find a fertile porphyry that contains only gold. Most porphyry deposits are typically associated with copper. However, Julian informs us that their system at the Northern Zone is devoid of any other metals and is solely a gold system. When we examine the historical drilling results, we can observe significant depth of mineralization, and the grades fall within the range of atypical mineralised porphyry gold system. Julian has mentioned that they are currently awaiting the results from their recent drilling program. These results will help confirm the assay content and determine if there is any false enrichment present (see below). Completion of Diamond Drilling of Northern Zone 26km ESE of Kalgoorlie It will be fascinating to see the assay numbers and gain a better understanding of the potential of this project. The core samples from the drilling program appear to be in excellent condition, which further adds to the anticipation of the assay results. Listen to Julian Ford here: Chapters: 00:00 Start 00:20 Introduction 01:03 Updates from Riversgold 02:57 The Gold Porphyry story 11:22 Metallurgical Cyanide Bottle Roll Test Results 13:37 How did the Northern Zone Project fly under the radar for so long? 19:34 Mt Weld Project 20:54 How should shareholders look at Riversgold? 23:04 Newsflow 23:50 Is the Porphyry story the main focus of Riversgold? 25:26 Why Riversgold? 26:03 Conclusion Samso's Conclusion The Riversgold story is an evolving narrative, and I appreciate the adventurous spirit of their projects. Julian impresses me as a composed and strategic individual who possesses a deep understanding of his work. When examining the Northern Zone project, the drilling results are remarkable and align with the expectations for a sizable deposit with low-grade bulk tonnage. According to the Visual Capitalist, porphyry deposits are very large, polymetallic systems that typically contain copper along with other important metals. Much of today’s mineral production depends on porphyries: 60% of copper, 95% of molybdenum, and 20% of gold comes from this deposit type. The Bingham Canyon Mine, located in Utah and owned by Rio Tinto and in production since 1906, annually produces approximately: 300,000 tons of copper 400,000 oz of gold 4,000,000 oz of silver 30,000,000 lbs of molybdenum The value of the resources extracted to date from the Bingham Canyon Mine is greater than the Comstock Lode, Klondike, and California gold rush mining regions combined. So as you can see above, the magnitude of finding a deposit of this nature in a Tier-1 jurisdiction like Western Australia is going to make Riversgold appreciate in market capitalisation. PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Julian Ford Chief Executive Officer Mr Ford has 30+ years experience in the mining industry with global experience including Australia, Africa, South East Asia and South America. Mr Ford has held senior positions within several major resource companies including Alcoa, British Gas, Western Metals Limited. Since 2004, Mr Ford has focused on managing a number of successful start-ups, including transitioning a number of these from concept/exploration to production. Mr Ford holds a degree in Chemical Engineering from the University of Natal, a Bachelor of Commerce from the University of South Africa and a Graduate Diploma in Business Management from the University of Western Australia. He has been a member of the AusIMM for 20 years. About Riversgold Limited (ASX: RGL) Riversgold Ltd is an ASX-listed exploration company focused on discovering and developing large lithium systems in the world-renowned Pilbara and Yilgarn cratons of Western Australia. In early 2022, the Company acquired a suite of four lithium-prospective exploration tenement applications covering 164km2 in the Pilbara region. The key Tambourah Project is underexplored and has the potential to host a major lithium-caesium-tantalum system much like the nearby Pilgangoora and Wodgina deposits. Further, the Company has acquired a tenement package of 292km2 prospective for lithium in the Southern Cross-Marvel Loch region of Western Australia as well as securing an option to acquire 80% of tenement E77/2784 immediately to the east of the globally significant Mt Holland lithium project in the same region. The Riversgold portfolio also offers strong exposure to gold and nickel through its large landholding at the Kurnalpi Project in the Yilgarn. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.