Ann: Investor Webinar Presentation, page-7

A fact and crucial takeaway that is being overlooked is the sheer size of the Rockford project. Economies of scale and logistics have to come into if the company is going to be prudent with its finances.

LEG has 3,000 sq km versus what Sirius had which was 46 sq km. That is a massive difference!

LEG doesn't just have Mawson... it has five other prospective sites that have been targeted as "prospective".

MW states in the webinar that expenditure had already started to exceed their forecasts... hence the need to raise more funds. My thoughts are that with 3,000 sq km, 5 other targets to drill and survey, the company needs to be prudent with their spending (even with $27 million). The economies of scale have to come into play with such a project.

Again, Sirius only had a project size of 46 sq km and only ONE deposit. Legend has a project size of 3,000 sq km and SIX targets in total. Perhaps, being meticulous and prudent with finances is not we (as retail SH) want to hear at this stage BUT is what's best for the company LT.

Of course, the SP would jump on the news that the motherload has been discovered and that Mawson is deemed a mineable deposit. But the company has a fiduciary to all SH (inc MC and IGO) to keep costs and the SP contained at this stage. With the number of prospective targets across its huge project area.... money is going to get burnt like nobody's business over the next year or so. But, as a holder, I intend using any pullbacks to top up... that would be the prudent thing for me to do, IMO. Others can whinge and whine about management, the CR, the plans, be the best judges, etc BUT I think management are doing a great job, are doing what any smart operators would do at this stage and that bodes well for the future prospects of this company and those involved as SH.