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Bishewa Pilot Plant ASSET

ASSET DESCRIPTION

ASSET NAME

Bishewa Pilot Plant

ASSET TYPE

Operating

Operating METALS & MINERALS

Gold

OPERATOR

Treseca Mekios

TOTAL WORKFORCE (CONTRACTORS INCLUDED)

60

ESTIMATED NO. LOCALLY EMPLOYED

45

SPECIFIC LOCATION

Kwara, Nigeria

CURRENT ASSET STATUS

Near mine exploration
Pilot producing

OWNERSHIP STRUCTURE

ASSET ACTIVITIES

ACTIVITY	START DATE	END DATE	PROGRESS
Add Capacity - Testing	Mar 17, 2017	Dec 31, 2017	100%
Airborne gamma spectrometric	Sep 27, 2016	Oct 27, 2016	100%
Ramp-up	Sep 27, 2016	Oct 27, 2016	100%
Ramp-up	Aug 31, 2016	Sep 30, 2016	100%
Strip & clear redundant plant	Aug 31, 2016	Sep 30, 2016	100%
Install equipment	Oct 1, 2015	Dec 29, 2016	100%
Install equipment	Feb 4, 2015	Sep 5, 2016	100%
First pour	Feb 3, 2016	Sep 13, 2016	100%

HISTORICAL OWNERSHIP

MINERAL RESOURCES AND RESERVES

Mineral Resources:

Metal	Measured				Indicated				Inferred			Attributable interests
Metal	Tonnage	Grade	Contained	CutOff	Tonnage	Grade	Contained	CutOff	Tonnage	Grade	Contained	Contained
Gold	0 k mt	0 g/t	0 k oz	0 g/t	0 k mt	0 g/t	0 k oz	0 g/t	0 k mt	0 g/t	0 k oz	0

Mineral Reserves:

TOTAL CASH COST PER GOLD OUNCE

Amount in millions	Mining	Processing	Admin	Royalties	Total	%
Fuel	0	0	0	0	0	0 %
Maintenance	0	0	0	0	0	0 %
Labour	0	0	0	0	0	0 %
Insurance	0	0	0	0	0	0 %
Royalities	0	0	0	0	0	0 %
Reagents	0	0	0	0	0	0 %
Explosives	0	0	0	0	0	0 %
Contractors/consultants	0	0	0	0	0	0 %
Other*	0	0	0	0	0	0 %
Total US$ millions	0	0	0	0	0	0 %

PRODUCTION

PRODUCTION CYCLE	Annual	2026 Experiences				Expectations
PRODUCTION CYCLE	2025	Q1	Q2	Q3	Q4	2026	5 Year Avg	Remaining LOM
	0	0	0	0	0	0	0	0	Capital Expenditures	1	3
	0	0	0	0	0	0	0	0	Ore Tons Mined	2	3
	0	0	0	0	0	0	0	0	Mill Feed - Ore Tons Processed	3	3
	0	0	0	0	0	0	0	0	Gold (k oz) Produced	79	2
	0	0	0	0	0	0	0	0	Gold (k oz) Sold	79	1
	0	0	0	0	0	0	0	0	Gold Recovery (%)	79	4
	0	0	0	0	0	0	0	0	Cash Operating Cost	4	3
	0	0	0	0	0	0	0	0	All - in Sustaining Costs	5	3
	0	0	0	0	0	0	0	0	Strip Ratio – Waste:Ore	6	3

ARTICULATED HAULERS

US METRIC

MINING TRUCKS

US METRIC

POWER DEMAND

POWER AND ENGINEERING

Power Usage: total MWh per year

Peak power demand MW

Environmental Impact Assessment, man hours

Engineering firms

Local firms

AFTER TAX & ROYALTY NET PRESENT VALUE

Assumed Exchange Rate

1 AUD = 0 USD

Date of Assessment

Jun 13, 2026