In the interview Jon Reynolds provides an update on the IGO deal discussing the general meeting held on 14 October to vote on the resolution. Other points raised in the interview include:

• 8 cents dividend to be paid by November 9
• Strong support from shareholders (old and new) of the company’s new journey and new board.
  Koongulla Project update

Jon Reynolds discusses some of the points of the Koongulla Project acquisition and exploration including:

• Executive Director and business development director Steve Moon identified the Paterson Province as a key area Boadicea could develop for its next growth platform.
• Boadicea still retains a key interest in the Fraser Range with IGO completing all exploration on the company’s tenements for the next five years.
• Boadicea wanted to find a project that matched the quality of the Fraser Range tenements and believes Koongulla has excellent potential.
• The Paterson Province has attracted the majors such as Rio Tinto, Fortescue, Newcrest etc all holding major positions in the region.
• Two recent discoveries have been making news recently with Rio Tinto announcing Winu’s maiden resource statement (500mt @ 0.45% CuEq) and Newcrest / Greatland Gold announcing the commencement of a decline that will be completed in 2 – 3 years.

Boadicea’s activities to date

Boadicea acquired 95% stake in the Koongulla project in June this year.

Koongulla is located on the eastern side of the Province and of particular interest is it is approximately 80km north of the Haveiron project.

Boadicea has completed a first pass high level review of the area which has identified five potential target zones.
This initial review is very encouraging given the series of regional scale structures and trends apparent in the reprocessed and enhanced regional scale aeromagnetic, airborne electromagnetics and gravity data.

The way forward for Koongulla

Boadicea is planning an airborne geophysics in the 4th quarter of this year.

The dates are currently being locked in.

This work will provide great details on the basement structure and identify potential follow up targets.

Business development

With the Fraser Range being explored by IGO on Boadicea’s behalf, the company is keen to expand its portfolio so currently looking for new opportunities.