Ann: Appointment of Non-Executive Chairman, page-41

I think that the appointment of David Frances has everything to do with the Rare Earths (which is crystal clear in the announcement).

Alec Pismiris took over when FNT only had Tolukuma, and did a splendid moving both FNT and Tolukuma along at a terrific pace, despite the Corona virus, which has been a huge challenge. He also seems to have been instrumental in FNT‘s recent, and up to now, very successful diversification into the Rare Earths, Lithium and Alumina sector’s, all of which being in Australia, which is an additional bonus.

IMHO, for the above reasons, FNT is now an entirely different company, and with far greater potential, which I believe investors only began to finally realise on Friday, with the appointment of David Frances.

In this regard, having Brian Thomas looking after Tolukuma, and David Frances looking after the Rare Earth projects etc. makes perfect sense i.e. these two excellent businessmen are specialists in moving extremely promising exploration projects far further forward and thus reaping the rewards for both the company and its shareholders.

Alec Pismiris simply had other qualities, which I have already alluded to. In this regard, and thanks to Alec Pismiris, FNT have now entered a completely new era and level. I would suggest that Alec Pismiris acknowledged this and was happy to move onto other challenges, where I am sure that he will be just as successful as he has been with FNT.

I would also like to thank Alec Pismiris personally for his excellent work, which has definitely massively improved FNT‘s fundamental position, as well as already significantly increasing the value of my FNT shareholding.

Cheers.