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Reporting assumptions

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Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Penouta

Galicia, Spain · Developing · 100.0% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (% Sn)	Contained (Mt Sn)	As at
Measured	5.90 Mt	0.06%	3.4 kt Sn	01 May 2026
Indicated	68.00 Mt	0.05%	0.03 Mt Sn	01 May 2026
Inferred	34.10 Mt	0.04%	0.01 Mt Sn	01 May 2026
Total Resources	108.00 Mt	0.04%	0.05 Mt Sn	01 May 2026
Proved	—	—	—	—
Probable	—	—	—	—
Total Reserves	—	—	—	—

Cut-off grade

9.2500 % Sn

Price assumption

—

JORC code year

2012

Peer benchmark — developing Sn projects (8 with resources)Resource size P19Resource grade P6View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: Penouta Mineral Resource Update · 01 May 2026
Reporting code: JORC 2012
Convention: unknown
Currency assumption: A$
Disagreement flags: 2 rows

Current R&R

Resources

Area	Category	Tonnes (Mt)	Sn		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (% Sn)	Contained (Mt Sn)	As at	Source	Provenance
Total	Total Resources	108.00 Mt	0.04%	0.05 Mt Sn	01 May 2026	3Unverified Evidence record Penouta Total Resource · Sn · as at 2026-05-01 Reported figure Area Whole project Basis 100% Ore tonnes (t) 108000000.0000 Grade 0.0437 Contained (t Sn) 47200.0000 Classification Resource Source trail Penouta Mineral Resource Update 3 Published 2026-05-04 Verification Approved; not independently verified · Model extracted AUTO UNIT-FIX: grade 437 ÷ 10000 → 0.0437 % Sn — recomputed contained reconciles to the document's reported figure (unconverted ppm/ppb unit). Confirm in review. QA INFO: partial commodity coverage — the document also reports Ta2O5 for this project, outside the supported commodity list and not captured; this project's stored figures do not include all its commodities. Copies a pre-filled issue record so you can send it through your normal channel.

Leucogranite

Measured

5.90 Mt

0.06%

3.4 kt Sn

01 May 2026

3Unverified

notes (3)

Source: Penouta Mineral Resource Update · published 04 May 2026

Ref: 3

JORC 2012 — Reporting code of record: JORC 2012
Cutoff 9.25 % Sn — Cut-off grade assumption from the source statement.

QA notes:

QA WARN: identical figures appear under ANOTHER area label of this project in the same document — likely one printed estimate stored twice (a summary/grouping line duplicating its leaf). Keep one copy; reject the relabelled twin. AUTO UNIT-FIX: grade 569 ÷ 10000 → 0.0569 % Sn — recomputed contained reconciles to the document's reported figure (unconverted ppm/ppb unit). Confirm in review. QA WARN: recomputed contained 3357.1000 t Sn vs reported 3400.0 t Sn (1.26% disagreement) QA INFO: partial commodity coverage — the document also reports Ta2O5 for this project, outside the supported commodity list and not captured; this project's stored figures do not include all its commodities.