Ann: ESR secures Strategic Investment to advance Timor-Leste, page-34

Hey Elvis or should i call you John. I am not satellites. I have never hid my identity. And i am glad that you have pointed out the financial pain that I am also experiencing from investing in ESR. I have not sold a share unlike you my friend. It is such a shame that you have spent all your time on here being bitter and twisted when you could have called me and asked me the questions that you wanted answers from. I would have thought that such a person with a financial back ground that you have you would understand that if a company's focus was on Nickel and the price of Nickel was falling then a prudent management team would have tried to see ahead and transition the company to something different to safegard against the falling price. Since we made the decision to look at opportunities in Timor the Nickel price has continued to fall and companies like BHP and IGO have put all their projects on care and maintenance. We were actually earlier than their decision making process. The DFS that you keep talking about, did you really want us to continue to finish it with the price of Nickel to plummet and the project being uneconomical????? We made the call to stop spending money (your money ,sorry, not anymore as you are no longer a shareholder) on something that was not adding value to the company.
Now in regards to the future we still have Spargoville and Car Boyd and if the Nickel price rebounds and shows signs of strength we can finish off that feasibility study and potentially mine it. In regards to Car Boyd we have significant targets ready to drill but firstly we want to see some long term hold in the Nickel price and its direction. There is no point spending valuable shareholder money on drilling Nickel targets if you dont expect to see value being added to the company.
We see value in exploring this new and exciting country where in the past 6 months we have doubled our exploration area. We have mapped a significant portion of that area. Our sampling has identified significant outcrops of some of the highest grade Manganese in the world. The next stage of this program is to try and show size of the project by drilling and trenching. This stage of the program is now funded due to the placement that we have just announced where the placement was done at a premium. (Show me a junior that has raised money at a premium and not with a free attaching option.) The use of the royalty is a novel way of doing that funding and if you look at the actual numbers if the Investor is making money then the company will be rolling in it. If the company is not mining a lot then the royalty is not worth much.
Lets talk about shares on issue. Yes there is a lot. Just out of curiosity do you know how many shares are on issue for BHP???? More than ours I think. It is about the strength of the company. Surely a person with your supposed financial understanding would not use that one. Or is that just scaremongering trying to justify your poor decision to sell at the bottom of the market??
I am excited about the future of Estrella and are looking forward to continue to explore and hopefully find more exciting areas in our concessions.
But as a word of warning this is a EXPLORATION company. We dont know what is in the ground. That is why the share price is where it is and for no other reason. If you want guaranteed results invest in the Big Four Banks or mining companies that already know what they have got. And remember the adage HIGH RISK HIGH REWARD. You wont get too many banks giving you 10 baggers in 6 months.
I wish all shareholders the best in the coming months and hope that we can continue to deliver results that warrant a re rating in the share price. I know I would like to see my portfolio turning green as well.

All the Best

Les
Go Estrella