RRS Gold Coast, page-7

Hey @allens

No worries mate, I’m pretty close to the Gold Coast so it wasn’t to onerous to get to the conference, I think it’s important as a shareholder to meet and chat with directors when the opportunities arises and this was a great opportunity..

I’ll paraphrase and try to answer your questions best I can..

Firstly, how confident are the team with the low hanging fruit at Jean Elson? That’s a good question as confidence is really an individual interpretation depending on many factors, environmental and/or otherwise.. Dr E and I chatted about the camel creek prospect just before Dr J came back from a session and joined us, this is my interpretation:

The surface mineralisation is visibly there with the outcrop already providing those rock chip samples, it’s fairly easy ground to explore as it’s mostly sandy cover, the data shows prospective mineralisation in that shallow region (hopefully see something in the first 20m or so).. There was no mention of swarms, but moreso talking about the fact that it’s never been explored before and where it’s located..

They were genuinely excited about camel creek and it wasn’t just lip service.. I’m a realist and I know that any company board or spokesperson wouldn’t come across with a lack of confidence about the company, it’s counter intuitive, its the body language that I note and they both came across as genuinely confident..

Secondly on the Drill locations? We didn’t really get into the textbook stuff as I’m not a very technical person, I understand what I’m reading (and there’s plenty of posters here that provide the “helicopter view” for me) but I’m not aufait enough to chat with an experienced geologist without sounding like an idiot.. However what I can say is that the general consensus is the data has generated some outstanding targets, but Dr E is still working through the info to ensure only the best are selected..

On a side note Dr J s much more confident having an in house person generating the targets from the data than a third party providing them.. Both Adam and Jonathan hold Emmanuel’s experience and credentials in high regard..

Thirdly, elaborating something at depth at camel creek? No Dr E didn’t elaborate on anything that indicated that there was something at depth, however I didn’t ask the question and it just didn’t come up in conversation..

There was some brief discussion about spinifex pigeon and how the modelling shows something at depth there, the focus right now is on camel creek but the team are also excited about this exploration..

As far as OCs go, it’s a pretty steep hill to get them in the money, there’s many factors that influence these.. The spread is thin, a good strike would move the share price enough to raise capital minimising ledger impact, but it would need to be be an outstanding strike to move it enough to see a 10 odd day vwap of 25c to be in the money..

Hope this helps