View settings100% · M+I+I · Resources excl. reserves · Native commodities

Reporting assumptions

These choices persist and are added to shared URLs.

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).

Ravensthorpe

Western Australia, Australia · Developing · 75.7% ownedManual entry

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.

Ni

Category	Tonnes (Mt)	Grade (% Ni)	Contained (Mt Ni)	As at
Measured	109.30 Mt	0.57%	0.62 Mt Ni	31 Dec 2025
Indicated	117.60 Mt	0.55%	0.65 Mt Ni	31 Dec 2025
M&I = Measured + Indicated (overlaps both)	227.00 Mt	0.56%	1.27 Mt Ni	31 Dec 2025
Inferred	68.20 Mt	0.52%	0.35 Mt Ni	31 Dec 2025
Total Resources	310.10 Mt †	0.55% †	0.00 Mt Ni	31 Dec 2025
Proved	95.20 Mt	0.56%	0.53 Mt Ni	31 Dec 2025
Probable	84.80 Mt	0.55%	0.47 Mt Ni	31 Dec 2025
Total Reserves	180.10 Mt	0.56%	1.01 Mt Ni	31 Dec 2025

M&I is the issuer's printed Measured + Indicated subtotal — it overlaps the Measured and Indicated rows and is never added alongside them; the Total rows and every rollup already exclude it.

† Tonnes and grade as published (not net): the reserve statement prints no tonnage to net out, so only Contained honours the Resources treatment on this row.

Co

Category	Tonnes (Mt)	Grade (% Co)	Contained (Mt Co)	As at
Measured	203.00 Mt	0.03%	0.06 Mt Co	31 Dec 2025
Indicated	117.60 Mt	0.03%	0.04 Mt Co	31 Dec 2025
M&I = Measured + Indicated (overlaps both)	423.20 Mt	0.03%	0.13 Mt Co	31 Dec 2025
Inferred	68.20 Mt	0.02%	0.01 Mt Co	31 Dec 2025
Total Resources

Cut-off grade

0.3000 % Co · 0.3000 % Ni

Price assumption

—

JORC code year

—

Peer benchmark — developing Ni projects (15 with resources)Resource size P50Resource grade P50View 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: First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) · 31 Dec 2025
Reporting code: unknown
Convention: inclusive
Currency assumption: US$

Current R&R

Resources

Area	Category	Tonnes (Mt)	Ni		Co		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (% Ni)	Contained (Mt Ni)	Grade (% Co)	Contained (Mt Co)	As at	Source	Provenance
Total	Measured	109.30 Mt	0.57%	0.62 Mt Ni	—	—	31 Dec 2025	First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.)

Hale-Bopp

M&I = Measured + Indicated (overlaps both)

37.00 Mt

0.55%

0.20 Mt Ni

0.03%

0.01 Mt Co

31 Dec 2025

111Unverified

notes (6)

Source: First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) · published 28 Feb 2026

Ref: 111

Unknown code — Reporting code not yet captured for this row.
Cutoff 0.30 % Co — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. QA WARN: cross-category subtotal — this total_resource row on area 'Hale-Bopp' equals the sum of the same area's measured+indicated leaves — a per-deposit M&I/P&P-style total (t24 LUN/LUG NI 43-101 class). Policy keeps category leaves + the whole-project Total; adjudicate per the per-property-totals precedent before approval.
QA reject: re-presentation of an approved estimate: combined Measured-and-Indicated line stored as total_resource (Exhibit B RNO Hale-Bopp 'Total Meas. plus Ind.' 37.0 Mt @ 0.03% Co) — figures match print; re-key to category m_and_i after the migration (do not approve as a M+I+Inferred total)
m_and_i re-key post-migration-0030: print-verified combined M&I, category was the only defect

Halleys

M&I = Measured + Indicated (overlaps both)

5.00 Mt

0.58%

0.03 Mt Ni

0.03%

1.5 kt Co

31 Dec 2025

111Unverified

notes (6)

Source: First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) · published 28 Feb 2026

Ref: 111

Unknown code — Reporting code not yet captured for this row.
Cutoff 0.30 % Co — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA INFO: document prints mine-plan/LOM-inventory vocabulary ('mining inventory') but this row's figures anchor outside those sections — verify the source table; no inventory sourcing is implied. QA WARN: cross-category subtotal — this total_resource row on area 'Halleys' equals the sum of the same area's measured+indicated leaves — a per-deposit M&I/P&P-style total (t24 LUN/LUG NI 43-101 class). Policy keeps category leaves + the whole-project Total; adjudicate per the per-property-totals precedent before approval.
QA reject: re-presentation of an approved estimate: combined Measured-and-Indicated line stored as total_resource (Exhibit B RNO Halleys 'Total Meas. plus Ind.' 5.0 Mt @ 0.03% Co) — figures match print; re-key to category m_and_i after the migration (do not approve as a M+I+Inferred total)
m_and_i re-key post-migration-0030: print-verified combined M&I, category was the only defect

Shoemaker-Levy

M&I = Measured + Indicated (overlaps both)

169.60 Mt

0.56%

0.95 Mt Ni

0.03%

0.05 Mt Co

31 Dec 2025

111Unverified

notes (6)

Source: First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) · published 28 Feb 2026

Ref: 111

Unknown code — Reporting code not yet captured for this row.
Cutoff 0.30 % Co — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. QA WARN: cross-category subtotal — this total_resource row on area 'Shoemaker-Levy' equals the sum of the same area's measured+indicated leaves — a per-deposit M&I/P&P-style total (t24 LUN/LUG NI 43-101 class). Policy keeps category leaves + the whole-project Total; adjudicate per the per-property-totals precedent before approval.
QA reject: re-presentation of an approved estimate: combined Measured-and-Indicated line stored as total_resource (Exhibit B RNO Shoemaker-Levy 'Total Meas. plus Ind.' 169.6 Mt @ 0.03% Co) — figures match print; re-key to category m_and_i after the migration (do not approve as a M+I+Inferred total)
m_and_i re-key post-migration-0030: print-verified combined M&I, category was the only defect

Total Resources

Measured

94.00 Mt

0.57%

0.54 Mt Ni

0.03%

0.03 Mt Co

31 Dec 2025

111Unverified

notes (6)

Source: First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) · published 28 Feb 2026

Ref: 111

Unknown code — Reporting code not yet captured for this row.
Cutoff 0.30 % Ni — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. QA WARN: tonnes/contained equal the SUM of 3 sibling row(s) of the same classification/category/commodity (Halleys, Hale-Bopp, Shoemaker-Levy) — likely a printed multi-deposit rollup/subtotal. Policy keeps leaf rows and printed whole-project Totals only; reject mid-level rollups (double-count).
t79b rescope: Exhibit B in-situ figure moved off area NULL so the Exhibit A whole-project rollup owns it (printed scope label)
t88 swarm r2 (a4): Printed SUBTOTAL line stored under an area label: 94.0 Mt / 535,800 t Ni = Hale-Bopp 21.6 + Halleys 2.4 + Shoemaker-Levy 70.0 exactly (ex-stockpiles). Not a fabrication, but it double-counts against its own leaves in any area rollup — qa_note should say "printed 'Total Resources' subtotal, ex-stockpiles; do not sum with sibling area rows".

Total Resources

M&I = Measured + Indicated (overlaps both)

211.60 Mt

0.56%

1.18 Mt Ni

0.03%

0.06 Mt Co

31 Dec 2025

111Unverified

notes (8)

Source: First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) · published 28 Feb 2026

Ref: 111

Unknown code — Reporting code not yet captured for this row.
Cutoff 0.30 % Ni — Cut-off grade assumption from the source statement.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. QA WARN: cross-category subtotal — this whole-project total_resource row equals the measured+indicated category value while inferred rows exist (an M&I/P&P-style total excluding inferred — t24 LUN / t25 GMIN-IMG class). Reject the subtotal; the full-set total (or leaves) carries the estimate. This is the SYSTEMIC M&I-as-total class (t71: 22+ rejects across two agents) — only a Measured+Indicated+Inferred total is total_resource; P&P → total_reserve is always valid.
QA reject: re-presentation of an approved estimate: combined Measured-and-Indicated line stored as total_resource (Exhibit B RNO 'Total Resources / Total Meas. plus Ind.' 211.6 Mt @ 0.56% Ni) — figures match print; re-key to category m_and_i after the migration (do not approve as a M+I+Inferred total)
m_and_i re-key post-migration-0030: print-verified combined M&I, category was the only defect
t79b rescope: Exhibit B in-situ figure moved off area NULL so the Exhibit A whole-project rollup owns it (printed scope label)

Reserves

Area	Category	Tonnes (Mt)	Ni		Co		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (% Ni)	Contained (Mt Ni)	Grade (% Co)	Contained (Mt Co)	As at	Source	Provenance
Total	Proved	95.20 Mt	0.56%	0.53 Mt Ni	—	—	31 Dec 2025	First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.)Manual entry Evidence record Ravensthorpe Proved · Ni · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 95200000.0000 Grade 0.5600 Contained (t Ni) 533120.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) Page reference not recorded Published 2026-02-28 Verification Approved; not independently verified · Manual entry t79b spec capture, print-verified: Ravensthorpe Australia 75.7% Nickel-C‑obalt‑ ‑ 95.2 - - 0.56 84.8 - - 0.55 180.1 - - 0.56 Copies a pre-filled issue record so you can send it through your normal channel.	notes (2) Source: First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) · published 28 Feb 2026 Unknown code — Reporting code not yet captured for this row. QA notes: t79b spec capture, print-verified: Ravensthorpe Australia 75.7% Nickel-C‑obalt‑ ‑ 95.2 - - 0.56 84.8 - - 0.55 180.1 - - 0.56
Total	Probable	84.80 Mt	0.55%	0.47 Mt Ni	—	—	31 Dec 2025	First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.)Manual entry Evidence record Ravensthorpe Probable · Ni · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 84800000.0000 Grade 0.5500 Contained (t Ni) 466400.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) Page reference not recorded Published 2026-02-28 Verification Approved; not independently verified · Manual entry t79b spec capture, print-verified: Ravensthorpe Australia 75.7% Nickel-C‑obalt‑ ‑ 95.2 - - 0.56 84.8 - - 0.55 180.1 - - 0.56 Copies a pre-filled issue record so you can send it through your normal channel.	notes (2) Source:
Total	Total Reserves	180.10 Mt	0.56%	1.01 Mt Ni	—	—	31 Dec 2025	First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.)Manual entry Evidence record Ravensthorpe Total Reserve · Ni · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 180100000.0000 Grade 0.5600 Contained (t Ni) 1008560.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) Page reference not recorded Published 2026-02-28 Verification Approved; not independently verified · Manual entry t79b spec capture, print-verified: Ravensthorpe Australia 75.7% Nickel-C‑obalt‑ ‑ 95.2 - - 0.56 84.8 - - 0.55 180.1 - - 0.56 Copies a pre-filled issue record so you can send it through your normal channel.	notes (2)
Limonite Ore	Proved	58.80 Mt	0.60%	0.35 Mt Ni	0.03%	0.02 Mt Co	31 Dec 2025	112Unverified Evidence record Ravensthorpe Proved · Ni · as at 2025-12-31 Reported figure Area Limonite Ore Basis 100% Ore tonnes (t) 58800000.0000 Grade 0.6000 Contained (t Ni) 352800.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) 112 Published 2026-02-28 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. Copies a pre-filled issue record so you can send it through your normal channel.	notes (3)
Limonite Ore	Probable	61.30 Mt	0.59%	0.36 Mt Ni	0.03%	0.02 Mt Co	31 Dec 2025	112Unverified Evidence record Ravensthorpe Probable · Co · as at 2025-12-31 Reported figure Area Limonite Ore Basis 100% Ore tonnes (t) 61300000.0000 Grade 0.0300 Contained (t Co) 18390.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) 112 Published 2026-02-28 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. Copies a pre-filled issue record so you can send it through your normal channel.	notes (3)
Reserve Including Stockpile	Proved	95.20 Mt	0.56%	0.53 Mt Ni	0.03%	0.03 Mt Co	31 Dec 2025	112Unverified Evidence record Ravensthorpe Proved · Co · as at 2025-12-31 Reported figure Area Reserve Including Stockpile Basis 100% Ore tonnes (t) 95200000.0000 Grade 0.0300 Contained (t Co) 28560.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) 112 Published 2026-02-28 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. Copies a pre-filled issue record so you can send it through your normal channel.	notes (3)
Reserve Including Stockpile	Probable	84.80 Mt	0.55%	0.47 Mt Ni	0.03%	0.03 Mt Co	31 Dec 2025	112Unverified Evidence record Ravensthorpe Probable · Ni · as at 2025-12-31 Reported figure Area Reserve Including Stockpile Basis 100% Ore tonnes (t) 84800000.0000 Grade 0.5500 Contained (t Ni) 466400.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) 112 Published 2026-02-28 Verification Approved; not independently verified · Model extracted 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. QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. QA WARN: the document prints this area as 'Reserve Including Stockpile Total' and its tonnes AND contained equal the sum of 2 named sibling row(s) (Limonite Ore, Saprolite Ore) — a mid-level rollup stored with 'Total' stripped from the label (t61 LM1 Marda class). Policy keeps leaf rows and printed whole-project Totals only; reject mid-level rollups (double-count). QA INFO: identical figures to area(s) 'Total Ore in Pits' — likely the same printed line under two labels (a summary and a detail table); keep one label and reject the other. \| t88 swarm r2 (a4): Printed TOTAL line stored under an area label: 84.8 Mt @0.55% Ni / 466,400 t is figure-identical to the area-NULL project row ee451100 from the same doc; its Co twin cade45df (25,440 t) is the sole probable-Co carrier. Same capture-spec issue as bbfccdd7 — qa_note as the detail table's total line. Copies a pre-filled issue record so you can send it through your normal channel.
Reserve Including Stockpile	Total Reserves	180.10 Mt	0.56%	1.01 Mt Ni	0.03%	0.05 Mt Co	31 Dec 2025	112Unverified Evidence record Ravensthorpe Total Reserve · Co · as at 2025-12-31 Reported figure Area Reserve Including Stockpile Basis 100% Ore tonnes (t) 180100000.0000 Grade 0.0300 Contained (t Co) 54030.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) 112 Published 2026-02-28 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. Copies a pre-filled issue record so you can send it through your normal channel.	notes (3)
Saprolite Ore	Proved	21.50 Mt	0.45%	0.10 Mt Ni	0.02%	4.3 kt Co	31 Dec 2025	112Unverified Evidence record Ravensthorpe Proved · Co · as at 2025-12-31 Reported figure Area Saprolite Ore Basis 100% Ore tonnes (t) 21500000.0000 Grade 0.0200 Contained (t Co) 4300.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) 112 Published 2026-02-28 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. Copies a pre-filled issue record so you can send it through your normal channel.	notes (3)
Saprolite Ore	Probable	23.60 Mt	0.46%	0.11 Mt Ni	0.02%	4.72 kt Co	31 Dec 2025	112Unverified Evidence record Ravensthorpe Probable · Ni · as at 2025-12-31 Reported figure Area Saprolite Ore Basis 100% Ore tonnes (t) 23600000.0000 Grade 0.4600 Contained (t Ni) 108560.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) 112 Published 2026-02-28 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. Copies a pre-filled issue record so you can send it through your normal channel.	notes (3)
Stockpile	Proved	15.00 Mt	0.56%	0.08 Mt Ni	0.02%	3 kt Co	31 Dec 2025	112Unverified Evidence record Ravensthorpe Proved · Co · as at 2025-12-31 Reported figure Area Stockpile Basis 100% Ore tonnes (t) 15000000.0000 Grade 0.0200 Contained (t Co) 3000.0000 Classification Reserve Source trail First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) 112 Published 2026-02-28 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. Copies a pre-filled issue record so you can send it through your normal channel.	notes (3)

notes (4)

Source: First Quantum Minerals Annual Information Form 2026 (R&R as at 31 Dec 2025: Kansanshi, Sentinel, Cobre Panama et al.) · published 28 Feb 2026

Ref: 112

Unknown code — Reporting code not yet captured for this row.
Cutoff 0.30 % Ni — 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. QA WARN: document prints recovered-metal vocabulary ('life of mine production') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA WARN: document contains mine-plan/LOM-inventory table vocabulary ('mining inventory') — such tables print production-target inventory, NOT a Mineral Resource estimate, and their rows look clean at store time (t23 TGM class). Map each row to its source table before approval and reject rows sourced from the mine-plan/inventory table. QA WARN: the document prints this area as 'Reserve Including Stockpile Total' and its tonnes AND contained equal the sum of 2 named sibling row(s) (Limonite Ore, Saprolite Ore) — a mid-level rollup stored with 'Total' stripped from the label (t61 LM1 Marda class). Policy keeps leaf rows and printed whole-project Totals only; reject mid-level rollups (double-count). QA INFO: identical figures to area(s) 'Total Ore in Pits' — likely the same printed line under two labels (a summary and a detail table); keep one label and reject the other.
t88 swarm r2 (a4): Printed TOTAL line stored under an area label: 84.8 Mt @0.55% Ni / 466,400 t is figure-identical to the area-NULL project row ee451100 from the same doc; its Co twin cade45df (25,440 t) is the sole probable-Co carrier. Same capture-spec issue as bbfccdd7 — qa_note as the detail table's total line.