Ann: Change in substantial holding, page-36

Hi Spid,

I appreciate your posts and consistent attempts to keep if factual as you've read, researched and understood the information. I"m not sure how you have the energy to reply and defend the way you do, but at least it's useful in the absence of anyone else sharing equivalent detailed analysis - not saying that others don't share info, but it's more high level and a POV based on their understanding and experience.

The ugly reality is that those of us who are holding, and holding any meaningful amount, are deep under-water, in a stock with no liquidity, so we're effectively facing a do or die situation with this company i.e. no ability to exit, much less make a profit unless the company does in-fact turn it around.

Past performance has been mixed, but there are positives such as the support from AU Minining, the off-take agreement, etc.

However, i'm interested to hear your POV on what are the most salient risks and your estimation of degree of probability i.e. what matters most over the next 3 - 12 months and the impact of not achieving it. I know this is a crystal ball kind of a question, but just trying to get clear on the top 1 - 2 deliverables that matter most in the short term to provide that pathway to SP / company recovery.