# DEV: Annual Report June 2026 Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145624 Publisher: asx Original announcement: 2026-09-29T09:19:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T13:24:30.434Z Atlas analysis updated: 2026-09-29T13:24:30.434Z - Company: DevEx Resources Limited - Ticker: DEV - Exchange: ASX - Region: Northern Territory - Primary commodity: Uranium - Secondary commodities: Rare earth elements, Copper, Nickel - Document categories: Resource update, Drill results, Capital raise - Extracted: 2026-09-29 13:24:31 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary DevEx Resources Limited's 2026 Annual Report highlights a strategic focus on uranium exploration, consolidating a dominant land position in Australia's Alligator Rivers Uranium Province. The company successfully completed a $38.9 million capital raise, strengthening its balance sheet to fund expanded exploration. Ongoing drilling at Nabarlek and Murphy West has yielded early encouraging results, while the Kennedy Rare Earth Element Project's resource estimate remains unchanged. Reasoning: DevEx Resources Limited's annual report highlights a strong strategic focus on uranium, marked by significant landholding consolidation and a successful capital raise. While some exploration results are early-stage and the REE resource is unchanged, the company is actively advancing its projects in a resurgent uranium market, supported by a strengthened balance sheet and new leadership. - Positive factor: Strategic land position consolidated in a key uranium province - Positive factor: Successful capital raise strengthening balance sheet - Positive factor: Active exploration programs with some encouraging early results - Positive factor: New leadership appointments - Positive factor: Strong uranium market outlook - Negative factor: Exploration and evaluation expenditure expensed leading to net loss - Negative factor: Kennedy REE MRE is unchanged and stale - Negative factor: Jimblebar project being assessed for assignment \(potential divestment\) - Negative factor: Big Radon drill result is low grade and based on eU3O8, not assay - Negative factor: Historical drill results re-released, lowering novelty Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 48 ## Classification and evidence **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Kennedy Project Mineral Resource Estimate is entirely classified as Inferred, which is the lowest confidence category. Evidence · text > The Inferred Mineral Resource Estimate for Kennedy remains unchanged from that first reported on 4 July 2024, comprising 150Mt at 1,000ppm TREO \(470ppm TREO-CeO₂\) at a cut-off grade of 325ppm TREO-CeO₂, or 88Mt at 1,200ppm TREO \(560ppm TREO-CeO₂\) at a 475ppm cut-off grade. **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The company explicitly states that its Mineral Resources are reported in accordance with the JORC Code \(2012\). Evidence · text > The Company reports its Mineral Resources in accordance with the JORC Code \(2012 of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves\) and the ASX Listing Rules. **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: The Mineral Resource estimate is based on information compiled by Mr Jonathon Abbott, a Competent Person. Evidence · text > The information in this Annual Report that relates to Mineral Resources is based on information compiled by Mr Jonathon Abbott, a Competent Person who is a Member of the Australian Institute of Geoscientists and a director of Matrix Resource Consultants Pty Ltd. **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The effective date of the Kennedy Mineral Resource Estimate is 4 July 2024, which is more than two years prior to the annual report's publication date of September 2026. Evidence · text > On 4 July 2024, the Company reported its maiden Inferred Mineral Resource estimate for the Kennedy Project in Queensland. No new Mineral Resource estimates have been reported during the year, and the Company confirms that there have been no changes to the previously reported Mineral Resource estimate. **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The document reports 'previous drilling at U40 Prospect' and 'Historical drilling at Caramal' with specific numbers, indicating these are not new assays. Evidence · text > previous drilling at U40 Prospect returned high-grade, shallow mineralisation over some 500 metres of strike, including 6.0m @ 7.6% U₃O₈ from 75m \(NAD7492\) and 4.8m @ 1.9% U₃O₈ from 80m \(NAD7493\). **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The drill result for Big Radon is reported as 'down-hole gamma reporting 1.6m' without any mention of true width or drill orientation. Evidence · text > down-hole gamma reporting 1.6m @ 680ppm uranium equivalent \(eU₃O₈\) from 26 metres **Low Grade Intercept** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The reported grade of 680ppm eU₃O₈ \(0.068% eU₃O₈\) is below the moderate threshold \(0.1%\) for uranium and significantly lower than historical production grades in the region \(e.g., Nabarlek at 1.84% U₃O₈\). Evidence · text > 1.6m @ 680ppm uranium equivalent \(eU₃O₈\) from 26 metres **Capital Raise Completed** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company successfully completed a two-tranche placement and a Share Purchase Plan, raising a total of $38.9 million. Evidence · text > During the year we also completed a well-supported capital raising totalling $38.9 million, underpinning the NT acquisitions and expanded exploration campaign, and closed the period well-funded with $27.2 million in cash. ## Extracted facts Stored fact records: 48. Some facts used in scoring do not have a stored record. ## Drill Results (7) ### NAD7492 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-drill-facts-36) Nabarlek North · uranium Historical result Needs review: historical\_restatement #### Identity - Hole ID: NAD7492 - Project: Nabarlek North - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: DEV #### Geometry - Grade: 7.6 - Grade Unit: % - Intercept: 6 m - From: 75 m - To: 81 m - Intercept Depth: 75 m #### Classification - Sample Type: drill - Group ID: NAD7492:75-81 #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a high-grade historical uranium intercept over a good width, indicating strong prospectivity for the area, though it is not new information. - Positive factor: High Grade Intercept - Positive factor: Good Intercept Width - Negative factor: Stale Data Re-release Evidence · text > 6.0m @ 7.6% U₃O₈ from 75m \(NAD7492\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NAD7493 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-drill-facts-37) Nabarlek North · uranium Historical result Needs review: historical\_restatement #### Identity - Hole ID: NAD7493 - Project: Nabarlek North - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: DEV #### Geometry - Grade: 1.9 - Grade Unit: % - Intercept: 4.8 m - From: 80 m - To: 84.8 m - Intercept Depth: 80 m #### Classification - Sample Type: drill - Group ID: NAD7493:80-84.8 #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a high-grade historical uranium intercept over a good width, indicating strong prospectivity for the area, though it is not new information. - Positive factor: High Grade Intercept - Positive factor: Good Intercept Width - Negative factor: Stale Data Re-release Evidence · text > 4.8m @ 1.9% U₃O₈ from 80m \(NAD7493\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NAR26002 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-drill-facts-38) Nabarlek North · uranium #### Identity - Hole ID: NAR26002 - Project: Nabarlek North - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: DEV #### Geometry - Grade: 680 - Grade Unit: ppm eU₃O₈ - Intercept: 1.6 m - From: 26 m - To: 27.6 m - Intercept Depth: 26 m #### Classification - Sample Type: drill - Group ID: NAR26002:26-27.6 #### Metal Equivalent - Metal Eq. Grade: 680 - Metal Eq. Unit: ppm eU₃O₈ - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a shallow, low-grade uranium equivalent intercept over a narrow width, which is not an assay and lacks true width disclosure, limiting its significance despite being new. - Positive factor: Shallow Intercept - Negative factor: Low Grade Intercept - Negative factor: Apparent Width Only - Negative factor: eU3O8 not assay Evidence · text > 1.6m @ 680ppm uranium equivalent \(eU₃O₈\) from 26 metres #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Metal Equivalent Opaque** Polarity: negative Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Why it applies: an equivalent grade is reported without its assumptions ### NAR26002 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-drill-facts-39) Nabarlek North · uranium #### Identity - Hole ID: NAR26002 - Project: Nabarlek North - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: DEV #### Geometry - Grade: 1041 - Grade Unit: ppm eU₃O₈ - Intercept: 0.4 m #### Classification - Sample Type: drill #### Metal Equivalent - Metal Eq. Grade: 1041 - Metal Eq. Unit: ppm eU₃O₈ - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a shallow, low-grade uranium equivalent sub-intercept over a very narrow width, which is not an assay and lacks true width disclosure, limiting its significance despite being new. - Positive factor: Shallow Intercept - Negative factor: Low Grade Intercept - Negative factor: Apparent Width Only - Negative factor: eU3O8 not assay - Negative factor: Very Narrow Intercept Evidence · text > 0.4m @ 1,041ppm eU₃O₈ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Metal Equivalent Opaque** Polarity: negative Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Why it applies: an equivalent grade is reported without its assumptions ### CAD11-020 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-drill-facts-40) Nabarlek North · uranium Historical result Needs review: historical\_restatement #### Identity - Hole ID: CAD11-020 - Project: Nabarlek North - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: DEV #### Geometry - Grade: 0.71 - Grade Unit: % - Intercept: 14 m - From: 108 m - To: 122 m - Intercept Depth: 108 m #### Classification - Sample Type: drill - Group ID: CAD11-020:108-122 #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a high-grade historical uranium intercept over a good width, indicating strong prospectivity for the area, though it is not new information. - Positive factor: High Grade Intercept - Positive factor: Good Intercept Width - Negative factor: Stale Data Re-release Evidence · text > 14m @ 0.71% U₃O₈ from 108m \(CAD11-020\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### OBRD12-067 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-drill-facts-41) Nabarlek North · uranium Historical result Needs review: historical\_restatement #### Identity - Hole ID: OBRD12-067 - Project: Nabarlek North - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: DEV #### Geometry - Grade: 0.22 - Grade Unit: % - Intercept: 21 m - From: 126 m - To: 147 m - Intercept Depth: 126 m #### Classification - Sample Type: drill - Group ID: OBRD12-067:126-147 #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a moderate-grade historical uranium intercept over a strong width, indicating good prospectivity for the area, though it is not new information. - Positive factor: Moderate Grade Intercept - Positive factor: Strong Intercept Width - Negative factor: Stale Data Re-release Evidence · text > 21m @ 0.22% U₃O₈ from 126m \(OBRD12-067\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### OBRD12-068 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-drill-facts-42) Nabarlek North · uranium Historical result Needs review: historical\_restatement #### Identity - Hole ID: OBRD12-068 - Project: Nabarlek North - Commodity: uranium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: DEV #### Geometry - Grade: 0.49 - Grade Unit: % - Intercept: 13 m - From: 75 m - To: 88 m - Intercept Depth: 75 m #### Classification - Sample Type: drill - Group ID: OBRD12-068:75-88 #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is a high-grade historical uranium intercept over a good width, indicating strong prospectivity for the area, though it is not new information. - Positive factor: High Grade Intercept - Positive factor: Good Intercept Width - Negative factor: Stale Data Re-release Evidence · text > 13m @ 0.49% U₃O₈ from 75m \(OBRD12-068\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ## Resource Estimates (41) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-0) Kennedy · treo #### Identity - Project: Kennedy - Commodity: treo - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 1100 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 1,100 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-1) Kennedy · treo-ceo2 #### Identity - Project: Kennedy - Commodity: treo-ceo2 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 470 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 470 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-2) Kennedy · pr6o11 #### Identity - Project: Kennedy - Commodity: pr6o11 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 32 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 32 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-3) Kennedy · nd2o3 #### Identity - Project: Kennedy - Commodity: nd2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 120 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 120 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-4) Kennedy · tb4o7 #### Identity - Project: Kennedy - Commodity: tb4o7 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 3.7 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 3.7 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-5) Kennedy · dy2o3 #### Identity - Project: Kennedy - Commodity: dy2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 22 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 22 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-6) Kennedy · mreo #### Identity - Project: Kennedy - Commodity: mreo - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 180 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 180 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-7) Kennedy · la2o3 #### Identity - Project: Kennedy - Commodity: la2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 93 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 93 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-8) Kennedy · ceo2 #### Identity - Project: Kennedy - Commodity: ceo2 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 530 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 530 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-9) Kennedy · sm2o3 #### Identity - Project: Kennedy - Commodity: sm2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 27 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 27 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-10) Kennedy · eu2o3 #### Identity - Project: Kennedy - Commodity: eu2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 4.1 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 4.1 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-11) Kennedy · gd2o3 #### Identity - Project: Kennedy - Commodity: gd2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 22 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 22 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-12) Kennedy · ho2o3 #### Identity - Project: Kennedy - Commodity: ho2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 4.2 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 4.2 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-13) Kennedy · er2o3 #### Identity - Project: Kennedy - Commodity: er2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 12 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 12 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-14) Kennedy · tm2o3 #### Identity - Project: Kennedy - Commodity: tm2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 1.8 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 1.8 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-15) Kennedy · yb2o3 #### Identity - Project: Kennedy - Commodity: yb2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 12 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 12 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-16) Kennedy · lu2o3 #### Identity - Project: Kennedy - Commodity: lu2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 1.7 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 1.7 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-17) Kennedy · y2o3 #### Identity - Project: Kennedy - Commodity: y2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:f51899b46d5e5868eb23 #### Resource Data - Category: inferred - Tonnes: 150000000 - Grade: 110 - Grade Unit: ppm - Cutoff Grade: 325 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 110 Context: 150 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-18) Kennedy · treo #### Identity - Project: Kennedy - Commodity: treo - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 1200 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 1,200 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-19) Kennedy · treo-ceo2 #### Identity - Project: Kennedy - Commodity: treo-ceo2 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 560 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 560 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-20) Kennedy · pr6o11 #### Identity - Project: Kennedy - Commodity: pr6o11 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 39 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 39 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-21) Kennedy · nd2o3 #### Identity - Project: Kennedy - Commodity: nd2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 150 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 150 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-22) Kennedy · tb4o7 #### Identity - Project: Kennedy - Commodity: tb4o7 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 4.4 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 4.4 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-23) Kennedy · dy2o3 #### Identity - Project: Kennedy - Commodity: dy2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 25 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 25 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-24) Kennedy · mreo #### Identity - Project: Kennedy - Commodity: mreo - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 220 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 220 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-25) Kennedy · la2o3 #### Identity - Project: Kennedy - Commodity: la2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 110 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 110 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-26) Kennedy · ceo2 #### Identity - Project: Kennedy - Commodity: ceo2 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 650 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 650 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-27) Kennedy · sm2o3 #### Identity - Project: Kennedy - Commodity: sm2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 33 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 33 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-28) Kennedy · eu2o3 #### Identity - Project: Kennedy - Commodity: eu2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 5 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 5.0 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-29) Kennedy · gd2o3 #### Identity - Project: Kennedy - Commodity: gd2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 27 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 27 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-30) Kennedy · ho2o3 #### Identity - Project: Kennedy - Commodity: ho2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 4.9 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 4.9 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-31) Kennedy · er2o3 #### Identity - Project: Kennedy - Commodity: er2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 14 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 14 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-32) Kennedy · tm2o3 #### Identity - Project: Kennedy - Commodity: tm2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 2.1 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 2.1 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-33) Kennedy · yb2o3 #### Identity - Project: Kennedy - Commodity: yb2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 14 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 14 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-34) Kennedy · lu2o3 #### Identity - Project: Kennedy - Commodity: lu2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 2 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 2.0 Context: 88 #### 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 **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 2.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-35) Kennedy · y2o3 #### Identity - Project: Kennedy - Commodity: y2o3 - Region: australia\_qld - Reported Region: North Queensland - Ticker: DEV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Jonathon Abbott - Resource group id: resource:3daa01b3157e6bdaa514 #### Resource Data - Category: inferred - Tonnes: 88000000 - Grade: 130 - Grade Unit: ppm - Cutoff Grade: 475 - Cutoff Unit: ppm TREO-CeO2 #### Prior Estimate - Resource Date: 2024-07-04 #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This is an Inferred Mineral Resource estimate, which is the lowest confidence category, and it remains unchanged from 2024, indicating low novelty. However, it is JORC compliant and signed by a Competent Person. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: Stale Estimate Evidence · table > 130 Context: 88 #### 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 **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 2.2 years before this release ### Fact 37 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-43) Nabarlek · uranium #### Identity - Project: Nabarlek - Commodity: uranium - Region: australia\_nt - Reported Region: Northern Territory - Ticker: DEV #### Resource scope - Resource group id: resource:c9d5e3f794ce806406a1 #### Resource Data - Grade: 0.31 - Grade Unit: % U₃O₈ #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: High-grade uranium surface sample indicates strong prospectivity for the Orion East Prospect, warranting further exploration. - Positive factor: High Grade Intercept - Positive factor: Surface Sample Evidence · text > up to 0.31% U₃O₈ #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### Fact 38 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-44) Nabarlek · uranium #### Identity - Project: Nabarlek - Commodity: uranium - Region: australia\_nt - Reported Region: Northern Territory - Ticker: DEV #### Resource scope - Resource group id: resource:c9d5e3f794ce806406a1 #### Resource Data - Grade: 3140 - Grade Unit: ppm U₃O₈ #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: High-grade uranium surface sample indicates strong prospectivity for the Orion East Prospect, warranting further exploration. - Positive factor: High Grade Intercept - Positive factor: Surface Sample Evidence · text > 3,140ppm #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### Fact 39 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-45) #### Identity - Ticker: DEV #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The successful completion of Tranche 1 of the placement secured significant funding for the company's operations and expansion. - Positive factor: Capital Raise Completed - Positive factor: Significant Funding Secured Evidence · text > Tranche 1, comprising approximately 110.4 million shares and raising approximately $16 million, was issued on 9 December 2025 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### Fact 40 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-46) #### Identity - Ticker: DEV #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The successful completion of Tranche 2 of the placement secured significant additional funding for the company's operations and expansion. - Positive factor: Capital Raise Completed - Positive factor: Significant Funding Secured Evidence · text > Tranche 2, comprising approximately 110.3 million shares and raising a further approximately $16 million \(including approximately 26.6 million shares issued to Directors or their associates under ASX Listing Rule 10.11\), was subject to shareholder approval. Approval was obtained at a general meeting held in January 2026 and Tranche 2 was issued in January 2026 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### Fact 41 [Link to this fact](https://atlas-staging.minestarters.com/news/dev-annual-report-june-2026--ecdf0374-df80-47e5-b244-7e54988afa08#fact-resource-facts-47) #### Identity - Ticker: DEV #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Share Purchase Plan was oversubscribed and successfully completed, demonstrating strong shareholder support and securing additional capital. - Positive factor: Capital Raise Completed - Positive factor: Oversubscribed - Positive factor: Strong Shareholder Support Evidence · text > A Share Purchase Plan at the same issue price of $0.145 per share opened on 8 December 2025 and was oversubscribed. ... 47,700,097 new shares were issued on 30 December 2025 raising gross proceeds of approximately $6.9 million. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ## 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.