Ann: RIU Sydney Resources Roundup Presentation - May 2022, page-9

G’day all.

as has been the case for a long time, this is just another sales pitch to try and attract a buyer for the tin. That’s failed miserably so far. To have any chance, they need to separate the assets, spin out either the tin, or everything else, leaving the tin in a simple vehicle; attractive to the big miners.

they have more than enough tin in the open cut option to get a mine up and running. So why spend precious $ on drilling and permitting an underground? Simple, just makes it a better buy for the big guys.

I’ve thought for a long time now that these guys have little or no intention to actually develop a mine. that’s imho of course. What would I know?

cheers,

ned.