Tomboys AGM Report

Personally attended the POS AGM today. Packed house, lots of financiers and geologists and karge investors there.

This is what they wont tell you happened:-

1. DS mentioned HC twice and is an avid reader, upset over many misleading incorrect posts.

2. Hutchinsons hit team hit up windarra for while already and sent more units down to LJ yesterday- its full ball on LJ after Windarra drilling.
3. Hutchinson is completely flabergasted by the size and composure of LJ especially emily ann north, Maggie Hays deeps ( comparing it to flying fox numerous times) and Taylors Rock (no 2 belt in LJ) - I have never ever seen Huchinson so pumped so bullish, he was literally jumping out of his skin over LJ
4. DS said BHP will have offtake from windarra "forever" but didnt disclose why he thinks this, must know much more than he is saying, seems to be buddies with the BHP NWest managers.
5. LJ is massive, jewell of the crown repeated many times, Hutchinson backed it up.
6. Discussion about AF, DS says he hasnt sold 1 share since the start, pointed out by DS and another director, still strong supporter, thinks POS has "taken flight" and we can run this on ourr own now.
7. Rob Dennis COO of SIR in answering final questions said- POS has a great operation, he knows the windarra intricately, and also worked at BSwan and LJ esp Emily Ann...POS has the team and skills to achieve this.. very strong sound position from Deniis, very impressive, Dennis was very bullish on POS
8. The LJ low hanging fruit and quality deposits that Norilsk didnt follow up but discovered there are substantial and are flyign fox like intrusive with deep deposits highly likely with numerous strong "anomilies"
9. Windarra G Shoot will restart by Christmas, ore to BHP by Feb. Cerberus willgive it 15 years mine life on current reserves only with "no extensions" imlies that windarra will drill for generations.
10. contract tenders for trucking ore to BHP lienster and windarra mining staff advanced and announcing soon. Well advanced tendering
11. The financing guys were well advanced in due diligence, $15M-$20M mentioned by DS, the financiers were sitting next to me and they were saying looks like 2 groups and very chummy with the directors. DS menrtioned Oz day 26 Jan is the planned approval for debt finance, sounds like a credit line.
12. windarra dn LJ funding wholly from CR restart then debt funding for "working capital".
14. rodrigues working hard on record DFS issuance for LJ ( done BSwan & Windarra), he was very composed and on top of the LJ DFS, mentioned that will be issued next week, waited on Norilsk conversion of data records to POS new software and Hutchinson analysis. Seems a planned combination of drilling and DFS and extracting Norilsks secrets, the Norilsk team very pleased to see OZ operators prepred to work this area.
15. DS stated BHP is frontrunner for all offtake but 3-4 others tendering for BSwan and LJ offtake, Jinchuan was a bidder also..BHP Kalgoorlie smelter was a big advantage for BHP offtake for Bswan.
16. Size matters for resources, again showed how POS reserves are ahead of SIR and just below WSA, Hutchinson says WSA flying fox is the most profitable NI mine in the world and its nextdoor to LJ.

Summary - i am stunned by the AGM, the sheer event of it and info that came out... it reaffirmed everything i have thought and believed the last 4 months in POS and more.. there are things there they alluded to which have stunning surprise written all over it... If Hutchinson and Dennis are bullish i am with them all the way.