Ann: AGM Presentation, page-33

Sure!
Capital return: Definitely considering buying back, but unsure as to the actual LONGER TERM positive effects that a buyback, whether partial or all, will make a material difference in the real real.rate of return, as opposed to keeping the cash for investment/ mine development/ strategic purchases.

If the mine needs to go deeper, then more capital expenditure will be needed to mitigate risk and environmental issues accompanying this depth.

Rentails: Again, long term tin prices, what technology is more effective/ efficient/ cost beneficial towards again, the medium to longer term benefit of the company and it's future profitability.

Drilling: A series of decisions will be made as to ascertain what part of the lease could be possible for future exploration, and whether or not it's viable to contract drills , compared to concentrating on the current drilling regime and moving as the 'seam analysis' permits.

LOM: Again results driven, but IMHO ONLY, they have an underlying confidence that the LOM be extended.

Unfortunately, I am not able to fully articulate the meeting clearly, due to my own limited ability, hence awaiting announcements and company communications.

Best way to explain is that EVERY decision IS being very carefully considered, and considered constantly.

Hopefully more communication will be forwarded to us all into the future. It does appear this way to me from what I could see.

One sentence did strike a cord, and I hope that it won't be taken out of context, is that they said "we are an investment company, not a mining company".
IMO, they are making this as profitable and lean as possible for the future, with highly considered, medium term capital outlay and preservation decisions.

What the end game is then , will be left up to you guys' own opinions...

Not exactly a real clarification from me unfortunately, however the tin market is about as clear as mud, so every investment has to be considered with a tin price between $13000-$30000US. Especially in light of the future AISC's.
Profitability is paramount, but at a realistic, PROBABLE, long term price.

Personally, I am more comfortable with our current board, as all decisions do appear to be highly considered , and being conservative to defend or invest into a very uncertain short term future, with eyes on the medium to long term profitability.

The absolute uncertainty of the current tin prices, and external sovereign risk of supply, is anyone's guess, so expenditure decisions with real AISC ( unlike national mines where the true costs are far less consequential) , are much more dependant on inflation and other macro economic situations.

Hope my babbling answer helps...