Ann: Noosa Conference Presentation, page-73

I think that's an acceptable mindset for junior investing in general, but I would say Dave appears to be one of the more honest operators in the junior space. Money is being spent on drilling, things are being progressed and some good moves have been made. I was not a fan of the raise. Thankfully with this recent taurus deal we won't be going through that again (I hope).

There's a tendency to focus on the past around here which is pretty silly, rule 1 of markets is they are forward looking. Strategy needs to be adjusted as the situation changes and new info comes to light. Plenty of catalysts moving forward.

As one example, the market brought this back up to 20c earlier this year on expectation of 50mt. Copper price was lower back then. If we get to 50mt this year, it seems that's the discount % the market values AW1 at. Make your own mind up if we will get there, I think we will since drilling season is double + we had drilling from last year that we couldn't incorporate since it needed infill, but we know its there.

I'm not saying things are perfect but when every second junior company is a lifestyle company, AW1 should be praised for being the complete opposite.

For example I think their DSO claim will come in higher, at around double (50m instead of 25) but that still leaves the company in a pretty amazing space. Where else is capex that low on ASX copper juniors?