# AEV: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145327 Publisher: asx Original announcement: 2026-09-29T04:06:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T15:45:25.819Z Atlas analysis updated: 2026-09-29T15:45:25.819Z - Company: Avenira Limited - Ticker: AEV - Exchange: ASX - Region: Unavailable - Primary commodity: Phosphate - Secondary commodities: Gold - Document categories: Resource update, Capital raise, Other - Extracted: 2026-09-29 15:45:26 UTC Narrative sentiment: 0.30 · Bullish ## Minestarters Atlas summary Avenira Limited's annual report for 2026 highlights progress on its Wonarah Phosphate Project in the Northern Territory, including Mine Management Plan approval and significant capital raises totaling over $16 million, with a further $49 million rights issue announced post-period. However, the target for first Direct Shipping Ore \(DSO\) shipment has been delayed from Q4 CY2026 to H1 CY2027. The company also reported on exploration planning for its Jundee South Gold Project in Western Australia, which is subject to a forfeiture dispute. Reasoning: Avenira Limited is progressing its Wonarah Phosphate Project with key approvals and significant funding, but faces delays in first shipment and a legal dispute on its gold project, while operating at a loss. The resource estimate is historical. - Positive factor: Mine Management Plan approval for Wonarah - Positive factor: Significant capital raises secured - Positive factor: Progress on infrastructure and logistics for Wonarah - Positive factor: Recruitment of senior operational and technical team - Positive factor: Jundee South exploration program finalized and targeting commencement - Negative factor: Delay in first DSO shipment target - Negative factor: Working capital deficiency - Negative factor: Jundee South forfeiture dispute - Negative factor: Operating at a loss - Negative factor: Resource statement is a restatement of a 2023 release Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 100 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 100. Some facts used in scoring do not have a stored record. ## Resource Estimates (100) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-0) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 20.8 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for phosphate at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 20.8 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-1) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 4.85 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Al2O3 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 4.85 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-2) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 28 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for CaO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 28 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-3) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 1.11 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Fe2O3 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.11 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-4) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 0.43 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for K2O at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.43 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-5) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 0.25 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for MgO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.25 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-6) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for MnO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.04 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-7) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Na2O at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.1 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-8) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 39.7 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for SiO2 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 39.7 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-9) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9bdc29f2316f2688d571 #### Resource Data - Category: measured - Tonnes: 78300000 - Grade: 0.21 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for TiO2 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.21 Context: 78.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-10) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 17.5 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for phosphate at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 17.5 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-11) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 4.75 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Al2O3 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 4.75 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-12) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 23.2 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for CaO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 23.2 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-13) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 1.49 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Fe2O3 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.49 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-14) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 0.47 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for K2O at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.47 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-15) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for MgO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.2 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-16) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for MnO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.04 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-17) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Na2O at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.09 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-18) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 48.3 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for SiO2 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 48.3 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-19) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:9b903fe331602f0fcc9d #### Resource Data - Category: indicated - Tonnes: 222000000 - Grade: 0.22 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for TiO2 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.22 Context: 222 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-20) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 18.3 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for phosphate at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 18.3 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-21) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 4.77 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for Al2O3 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 4.77 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-22) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 24.4 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for CaO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 24.4 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-23) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 1.4 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for Fe2O3 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.4 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-24) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 0.46 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for K2O at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.46 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-25) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 0.21 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for MgO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.21 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-26) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for MnO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.04 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-27) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for Na2O at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.09 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-28) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 46.1 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for SiO2 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 46.1 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-29) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:c0147c324085796510fb #### Resource Data - Category: indicated - Tonnes: 300000000 - Grade: 0.22 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for TiO2 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.22 Context: 300 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-30) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 18 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for phosphate at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 18 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-31) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 4.8 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for Al2O3 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 4.8 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-32) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 24 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for CaO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 24 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-33) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 2.1 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for Fe2O3 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 2.1 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-34) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 0.5 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for K2O at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.5 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-35) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for MgO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.2 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-36) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for MnO at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.08 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-37) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for Na2O at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.05 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-38) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 46 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for SiO2 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 46 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-39) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:465d7e88fe386657b12b #### Resource Data - Category: inferred - Tonnes: 512000000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 10 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for TiO2 at a 10% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.2 Context: 512 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-40) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 22.4 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for phosphate at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 22.4 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-41) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 4.47 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Al2O3 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 4.47 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-42) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 30 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for CaO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 30 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-43) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 1.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Fe2O3 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.1 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-44) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 0.37 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for K2O at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.37 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-45) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for MgO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.19 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-46) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for MnO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.04 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-47) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Na2O at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.09 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-48) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 37 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for SiO2 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 37 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-49) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:2ff661e2f0b584fb4789 #### Resource Data - Category: measured - Tonnes: 64900000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for TiO2 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.19 Context: 64.9 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-50) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 21.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for phosphate at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 21.1 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-51) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 4.77 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Al2O3 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 4.77 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-52) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 28 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for CaO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 28 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-53) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 1.53 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Fe2O3 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.53 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-54) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 0.47 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for K2O at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.47 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-55) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 0.21 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for MgO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.21 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-56) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for MnO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.04 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-57) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Na2O at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.09 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-58) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 39.7 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for SiO2 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 39.7 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-59) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f6e63d3772343488ed0f #### Resource Data - Category: indicated - Tonnes: 133000000 - Grade: 0.22 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for TiO2 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.22 Context: 133 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-60) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 21.5 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for phosphate at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 21.5 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-61) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 4.67 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for Al2O3 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 4.67 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-62) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 28.7 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for CaO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 28.7 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-63) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 1.39 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for Fe2O3 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.39 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-64) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 0.44 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for K2O at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.44 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-65) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for MgO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.2 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-66) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for MnO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.04 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-67) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 0.09 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for Na2O at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.09 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-68) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 38.8 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for SiO2 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 38.8 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-69) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:6491d677de65f0db054f #### Resource Data - Category: indicated - Tonnes: 198000000 - Grade: 0.21 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a combined Measured and Indicated resource for TiO2 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.21 Context: 198 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-70) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 21 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for phosphate at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 21 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-71) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 4.5 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for Al2O3 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 4.5 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-72) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 28 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for CaO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 28 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-73) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 2 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for Fe2O3 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 2.0 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-74) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 0.5 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for K2O at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.5 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-75) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for MgO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.2 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-76) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for MnO at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.10 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-77) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 0.06 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for Na2O at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.06 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-78) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 39 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for SiO2 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 39 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-79) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:40c8e405a1d21b3f6e3f #### Resource Data - Category: inferred - Tonnes: 335000000 - Grade: 0.2 - Grade Unit: % - Cutoff Grade: 15 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred resource for TiO2 at a 15% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty - Negative factor: Resource is Inferred, indicating lower geological confidence Evidence · table > 0.2 Context: 335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-80) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 30.9 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for phosphate at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 30.9 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-81) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 3.14 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Al2O3 at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 3.14 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-82) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 42.1 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for CaO at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 42.1 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-83) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 0.85 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Fe2O3 at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.85 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-84) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 0.18 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for K2O at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.18 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-85) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 0.19 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for MgO at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.19 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-86) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for MnO at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.05 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-87) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for Na2O at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.08 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-88) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 18 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for SiO2 at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 18.0 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-89) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:5fa278e97d17994ec6ce #### Resource Data - Category: measured - Tonnes: 3400000 - Grade: 0.14 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a Measured resource for TiO2 at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.14 Context: 3.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-90) Wonarah Phosphate Project · phosphate Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: phosphate - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 30 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for phosphate at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 30.0 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-91) Wonarah Phosphate Project · al2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: al2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 3.43 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Al2O3 at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 3.43 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-92) Wonarah Phosphate Project · cao Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: cao - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 38.8 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for CaO at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 38.8 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-93) Wonarah Phosphate Project · fe2o3 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: fe2o3 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 1.14 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Fe2O3 at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.14 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-94) Wonarah Phosphate Project · k2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: k2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 0.28 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for K2O at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.28 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-95) Wonarah Phosphate Project · mgo Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mgo - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 0.11 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for MgO at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.11 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-96) Wonarah Phosphate Project · mno Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: mno - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 0.03 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for MnO at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.03 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-97) Wonarah Phosphate Project · na2o Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: na2o - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 0.08 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for Na2O at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.08 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-98) Wonarah Phosphate Project · sio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: sio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 24.7 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for SiO2 at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 24.7 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aev-annual-report-to-shareholders--7651a2b3-7c68-4d45-8c57-c6d4c30be364#fact-resource-facts-99) Wonarah Phosphate Project · tio2 Historical result Needs review: historical\_restatement #### Identity - Project: Wonarah Phosphate Project - Commodity: tio2 - Region: australia\_nt - Reported Region: Northern Territory - Ticker: AEV #### Resource scope - Estimate type: resource - Effective date: 2023-09-27T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:38c263163dd6d87d3515 #### Resource Data - Category: indicated - Tonnes: 9600000 - Grade: 0.15 - Grade Unit: % - Cutoff Grade: 27 - Cutoff Unit: % P2O5 #### Prior Estimate - Resource Date: 2023-09-27 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Indicated resource for TiO2 at a 27% P2O5 cut-off, but it is a restatement of a prior estimate. - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.15 Context: 9.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.0 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.