Ann: Placement to fund Pomme REE-Nb Project Exploration, page-412

Sorry i dont want to get into back and forth pointless arguments with anyone but what you said about 45% discount was just extremely weird.

1. It never went to 14.5c during that 1st day of the run. It spent most of the day at 10c and under until around 2.30pm - 3pm where it started to run up to 12.5c and closed at 10.5c. The next day the company announced the trading halt for CR, and as we all know, at 10c for $3mil. So, your statement of sp running up to 14.5c is not accurate (please check and verify if it went up to 12.5c or 14.5c. If I am wrong I do apologise first here. If you are wrong, please do correct your statement. Thanks).

2. Even if it had gone to 14.5c, the CR at 10c would be at 31% discount (10c ÷ 14.5c = 69%. It means it is at 31% discount, not 45% discount). This is mathematically flawed.

3. But that is the most weird way of calculating discount i have ever thought i would see in my life. You cannot pick a highest sp point during the day and then use it as the benchmark to work out the discount. The most appropriate way is to use the VWAP of the previous 7 days or the previous 5 days, and it would mean the CR at 10c was done at around 10%-20% premium because the VWAP of previous 7 days or 5 days was around 8c-9c I believe.

Even if you want to only the use the day before the CR, then you must use the VWAP of that day which I believe was at around 11c. In this case, the CR at 10c would be at 9.1% discount.

4. As you and everyone here could see, the sp was about to make substantial gains in the following days if there had not been a CR and trading halt when the momentum was quite positive. And therefore the company could have done the CR at a higher price but why management was so quick with it? Why didnt they want to wait for a couple more days? I strongly believe it was because they didnt want to miss the chance to participate in this CR at cheap sp of 10c. If they let it run for more days or weeks, they would not be able to buy the shares due to the black-out period where directors are not allowed to buy shares due to drilling just completed and assay results are pending. I said to my friend about the trading halt for CR on that day "wow, they are so quick with CR. Why don't they wait for few more days or 1 week later for sp to go up further? I bet you directors want to take this opportunity to buy more shares" and as we now know they did. Surely they know what they are doing after 4-5 weeks of drilling. These types of RC and AC drilling are very quick. Each day the drill rig can complete 1-2 holes. They must have a good idea of what they hit after 4-5 weeks.

I personally think this stock has a very real chance of beating ARR's MC with both portfolios of projects, one at East Laverton (assays awaiting) and the newly acquired REE-Nb project in Canada.