short position, page-2

Nice to see shorts coming down 1.4% to 6.63% as of the 19 th. That’s the lowest it has been for some time. Hopefully the shorts will only need to keep the price down for a relatively short period of time now before the market lets it go on the next run up.

I really only wanted to comment on the above but got carried away again. Only bother reading if you are interested in my take on our current position and a bit of dribble thrown in.

Funny how we always have at least one person here letting us know how terrible our investment is. We have now seen many have a go, they seem to last a month or so on average before giving up. Many have been deliberate downrampers or simply trolls having a bit of fun. I don’t put flashy in that boat. I see that one as plain and simple immaturity/child like behaviour that the SP and announcements must be to his liking, otherwise the company must be scamming us.

It is very easy to get carried away with seeing others go on big runs and think why not us, there must be something wrong. The market plays its games but at the end of the day it always comes back to fundamentals and we have that in spades. Some complain about no deals being done regarding JB and SDV, but have a look around at those deals that have been done with the other near producers. Would we seriously want to take any of those deals and funding arrangements for our resources. I personally would not be happy with any of them for our resources. Many have a mix of dilution, lowish locked in offtakes prices and highish loan interest. We have got used to our management securing the best deals in the industry and get a little greedy thinking that they can keep pulling that rabbit from the hat. Well it obviously ain’t that easy. I for one am much happier to see that AT won’t take anything other than the best and if that means we wait so be it. There is work being done value adding our resources in the mean time. Further drilling, DFS and permits being arranged for JB. SDV is a little harder to see the progress but it is moving along and it would be nice to have more transparency as to what exactly is happening there. Over time our management has seen off every negative nelly with results and I am sure this will continue. Have a good look around, sure there is the possibility for good gains elsewhere but who would you be willing to put your house on. The few that are coming online this year have seen excellent gains and those with a bit of smarts would have seen the value there 4-5 months ago and had a bit of a play. But we know when they reach a good value there are lots of risks with the start up and journey to steady state. They have loans waiting to be paid and can’t afford taking too long to get it right. If they miss their timelines they will be punished hard. At the same time we are in cruise control mode. JB and SDV comprise a tiny amount of our share price so delays there involve minimal risk. While MC is running beautifully and has minimal risk. So risk is at an absolute minimum and upside is as close to a maximum as you can get with a massive hard rock resource in a great spot and a world class brine resource. It’s been fun playing the others but still think it is wise having the safe money here.