Ann: Investor Presentation Noosa Mining and Exploration, page-35

Last year we were stuck in the 3-4c range for what felt like ages and then re-rated after the discovery. New range seems to be 8-10c with sellers coming in when it gets close to 10c and buyers when it approaches 8c. And you’ll see sharp movements in either direction within this range if any volume comes in.

I can’t see any drilling results making much difference at the moment unless they are exceptional. Think the next re-rate will be driven by a resource upgrade which shouldn’t be too far away. Or something unexpected from JOGMEC tender process.

Those buying now have patience and know they’re getting a bargain - just need to forget about SP in ST. Just my view.