Ann: Quarterly Activities Report, page-33

You and Cylcops are on the right track .. the most important part of the AGM announcement was the placements under LR 7.1A and LR7.1

I suggest you have a look at the CXO potential offtake deal with a Chinese outfit that wants their Lithium. Read their last announcement... how they did it is instructive... private placement to the potential buyer and cash in the coffers to the company.The SP took a large hike on the news after crashing earlier.

You need to clear the path early to enable a potential off taker to take a position in the Company. Off takers like to hold a good position in the company selling them product to have more surety of long term supply.

It all looks good to me and am expecting good news after the AGM once the LR 7.1A and LR7.1 are ratified.

Who knows? we may even get good news earlier. Scandium is not the only metal on the minds of PGM .. Cobalt and Nickel are high priority sale items... but that's my view .

The independently calculated NPV from the recently released MAIDEN RESERVE estimate for Sc, Co, Ni for years 1-5 is approximately USD $300Mill ... remember it's only for the Maiden Reserve tonnages estimate as used for mine start and production. There is a lot more tonnage of ore than the maiden reserve figures and more drilling to do to expand the resource size further.

I will do some desktop digging and hunt out the historical Owendale Litho Logs to gauge the depth of mineralisation and Geochem data to provide grade indication. Let you know when I have finished... probably mid week.

Cheers

HR

just my views.