The optimisation studies assessed a number of transport options for the bulk transport of the Project's concentrate products: Trucking - From the mine site to existing rail corridor and siding area - Conveyor - From the mine site to existing rail corridor and siding area - Rail line extension and balloon loop - From the mine site to existing rail corridor and siding area - Slurry Pipeline - From mine site to coastal port of Port Pirie. Stage 1 (5Mtpa) Case - Trucking with Haul Road: Trucking along a dedicated 55km haul road to the Hillgrange siding site was identified as the most cost-effective option for 5Mtpa Stage 1 operations together with the lowest permitting and capital risk. The truck option also provides a site access corridor for construction, personnel and goods and a logical route alignment for the anticipated rail spur required for the expanded production scenario at 10 Mtpa.

Stage 2 (10Mtpa Expansion) Case - Rail spur line and balloon loop: At 10Mtpa, economic analysis favours rail transportation direct from the mine site to port and a dedicated rail spur line and balloon loop that extends from the proposed siding at Hillgrange to the mine site has been incorporated into the Stage 2 design. Power supply: Taking advantage of South Australia's renewable energy grid has long been a feature of the Razorback Project, with the high-voltage transmission line and substation design now designed for both 5Mtpa and 10Mtpa production stages with reliability of supply and future expansion capacity in mind. The planned infrastructure consists of an expansion of the Bundey Substation, approximately 130 kilometres of new 275 kV transmission line, and new substation near the Razorback Mine Project site.

Water supply: A sustainable and affordable water supply for Razorback has long been recognised as a key technical risk for the project and the Project's increased production scale means that water supply requirements have increased proportionally. In line with the Company's commitment to sustainable development and ESG goals that include water efficiency, the process design, equipment selection and tailings placement methodology have been carefully selected to maximise water recovery and reuse.