Ann: Breaker Investor Presentation - RRS Summer Series, page-24

Ahh, the law of diminishing returns. One quarter paid, three that are not. It won't take long before a zero generation of income means there is no money left in the bank. Deeper holes = increased expense.

Thanks for posting that video link.
This is only the second time i have watched Sam present. No slight on Tom, but at least Sam was more enthusiastic and engaging although i got the feeling it was a hard sales pitch!
A couple of issues however:
1. The hard sell on Manna and how it is a great transaction ... 50 x multiple = shareholder value (well that is yet to be played out imo).
2. The comment " ... should we choose to build the project ourselves".
3. Reference to lake Rebecca ... similar sized project ... blah blah blah ...
4. Deposit getting deeper and more expensive to drill
5. Focussed on commercialising the deposit = ..?
All of these stink of someone, "offer us something?"

Of interest was the commentary of a budget being allocated for Manna gold - Camp scale - #1 on the priority list.

Concerning: Capital return to shareholders. Why? Surely only if a takeover offer is on the cards?
Acquisitions? Seriously, we have enough on our plate. Get Bombora up and running, there will be multiples to be made on a capital return if the project is any good!

DFS Dec quarter 2023 - that's ten years in for me! (Fits Tom's timeline).

Promise of Ullaring "potential discovery" - i have assigned no value on this for four DD drill holes but happy to be proved wrong after waiting for activity there (at least five years). At least it's 50% covered by EIS funding.

Refreshed management: Okay, so best you get your running shoes on because you will only be "fresh" for so long!

I thought we were getting a resource update this quarter but recent ann's don't mention it. Perhaps i was confused by last year's update? In any event, i don't see much on the ann front before Xmas ...

Not a negative post, just with the change of management, comes the uncertain. Btw, where is our new MD?

Good luck to longs,
Perdy