Ann: Noosa Conference Presentation, page-18

One things for certain dealing in the ASX is you need to be open to change...and able to deal with pain...and plan a response.

An overly confident leader when interest rates were zero vs an over confident leader when interest rates are on there steepest trajectory in decades bites...Thats what was the telling factor imo. Without dredging too much, a mine plan based on what was `just enough` to pay off and start `mining metal`, as Barry was hoping for, just didn't work when Mr Powell started his hikes. This proved a telling factor across the ASX, not just copper and CYM in particular.

The question is down to three factors re. CYM...Where are interest rates/inflation headed. Where are Copper prices headed....and what will our revised mine-plan/DFS/BFS be factored upon?

In a nut shell, the first factor, imo, given Covid is well in the rear view mirror and US inflation is well and truly tracking more to the median as is interest rates, bodes well that the US economy hasn't fallen into quick sand as many figured would happened moons ago. 2, the copper price entered a new dawn with electrification a few years back but took a back seat with interest rates and inflation hikes. like covid, i believe this will head to a more median role in line with the realities (minus covid), as electrification and infrastructure moves forward. 3, and for me the most crucial is that a mine plan based on more than just several years is now being applied. Financiers buckled and rejected the prior, slimline approach earlier this year. There's a boat load more resource than what was used earlier in the year being applied that will be NOW be used to move this towards finance that was left off the table earlier. This will propel Nifty back in line with where a mid tier should be priced..(with a health copper price).

Of course its hope that the above factors will play into our angle. Nothings guaranteed. Have been accumulating 2.4 and above. Lost enough like many to rethink a new base/approach a couple months back. Since keeping an eye on the trading over the past month or so, it looks as though some heavy accumulation sub .3 is taking place...given they have $30 odd million, CRs are off the table for much of the period ahead...am keeping a firm eye on the copper price but believe a bottom and bounce is close.