[laughs] Sorry.

Well, yeah, no, look, it's, um, it's a great setup for uranium and, and we're one of a, a very small group on, on London market in the uranium space.

You've got the very big boys, Kazatomprom, massive producer on main board.

You've got Yellowcake, which is a play on spot price, and a very small group of explorers.

And of course, when a price moves, explorers are always super leveraged- To that.

And so right now it's a great setup for uranium.

I mean, even where we sit today, you know, reactors need about 70,000 tons a year of uranium, or 2025 numbers, which is about 180 million pounds.

What's the situation on the announcement on Tuesday?

That seems fairly significant.

Yeah, we're really excited and pleased with this first pass program.

We've gone really, really quickly from really what was a greenfield prospect with some neurology back in February, albeit some fantastic neurology being adjacent to some of the world's most significant deposits and uranium mines, to running a really quick but substantial geophysical program, creating geophysical targets, going and doing some initial sampling to trenching and drilling pretty significantly ahead of schedule.

We were only meant to start drilling originally the first 1500 meters in September, but we got that going at the end of June.

And then we expanded that 1500 meter first pass program to over 2800 meters and the trenching has uncovered a significant footprint there at surface, as you say, about one and a half kilometers long by 600, 700 meters wide in places that is mineralized with uranium.

And I think really importantly, the lithology is as important as the uranium to us.

in that we can see those stacked sheets i think i mentioned this before when we spoke before the summer sort of layer cake or of of um you know barren material with these ulgs uraniferous lucre granites but they're often referred to as alaskites which is this granite that's got uranium in it um and you see that in sections we can see that across that strike and then we've drilled some holes um in that in that vicinity around the trenches and that's why we decided to do it because we were drilling the patio channels we were doing the trenching we'd uncovered these these stacked sheets and we said well you know what let's go drill some holes over there and see what depth continuity we've got although we haven't had the assays back yet we'll have them in within the next couple of weeks hopefully i'd be very surprised if we don't have them in that timeline but uh you know so we said in our rns um yesterday um we expect results and that to be announced in september we so rory you've

right and that's that's a sign in itself yeah we

That seems fairly significant.

Yeah, we're really excited and pleased with this first pass program.

We've gone really, really quickly from really what was a greenfield prospect with some neurology back in February, albeit some fantastic neurology being adjacent to some of the world's most significant deposits and uranium mines, to running a really quick but substantial geophysical program creating geophysical targets going and doing some initial sampling to trenching and drilling pretty significantly ahead of schedule we were only meant to start drilling originally the first 1500 meters in September but we got that going at the end of June and then we expanded that 1500 meter first pass program to over 2800 meters and the trenching has uncovered a significant footprint there at surface, as you say, about one and a half kilometers long by 600, 700 meters wide in places that is mineralized with uranium.

And I think really importantly, the lithology is as important as the uranium to us.

in that we can see those stacked sheets i think i mentioned this before when we spoke before the summer sort of layer cake or of of um you know barren material with these ulgs uraniferous lucre granites but they're often referred to as alaskites which is this granite that's got uranium in it And you see that in sections.

We can see that across that strike.

And then we've drilled some holes in that vicinity around the trenches.

right and that's that's a sign in itself yeah we

Good morning to you.

Good morning.

Good morning to everyone joining this call.

Thank you for taking the time to join us.

Let me just get my screen full screen.

let me quickly run you through this is a short form updated uh presentation where we are with with our core resources and then following this we'll we'll move into a a q a and i think you can uh should be able to submit questions um as i'm as i'm going through the presentation So let me jump in.

Disclaimer, this presentation will be posted on the website.

pointer unless I

So Rory, this legacy drilling and recent trenching, which have both produced encouraging uranium indicators, what will you be looking for from this maiden drilling programme to demonstrate that Orongo has potential to host an economically significant uranium deposit?

So as I mentioned before, we've got the two types of targets, one in these paleo channels, these Calcrete-hosted deposits, which is what they have in terms of resource with our neighbours at Orano.

They've got a huge tonnage there, 300 million tonnes, probably going to upgrade that at around 120 ppm.

and then Maronica in Elevate Uranium to the north of us, who've again recently updated their resource grade and the size of their resource, which is around, I think now 80, about 80 million tons.

I think they've gone up to 160 ppm now.

So these big low tonnage paleo channels, these ancient rivers that have precipitated uranium in them, it's come out of leach fluids.

And then you've got the ULGs, these Alaskites, which is the the uranium in the in the hard rock in the granite and so we were exploring for both so the legacy drill holes around 100 of them were step outs from previous programs and they weren't on particular grids but you know a lot of them were in random places quite frankly but i guess that's where you know explorers have followed the main grid and Previous guys have been in the area, whether it's from the Euroming, probably from the Euroming days pre-Orano takeover and, you know, put a hole here and a hole there.

Yeah, that's

Tell us a bit more.

Yeah.

Good to, good to speak to you again.

So yes, we put out this RNS just as a couple of weeks ago now, um, and we are fully underway now on that second phase exploration program.

So excited by what we found or our in-- what were our interpretations from the geophysics.

We've got lots of targets.

We've got this paleo channel target, as you mentioned, in license eight nine nine five to the east, which we're going to accelerate our drilling on.

So from your perspective, what is gonna be key in terms of, uh, turning this into a, you know, a resource that is commercial?