General discussion, page-283

thanks for your feedback. Yes, im aware of your points, i have shares in LYC for over 10 years, and shares in AR3.

my issues relate to the current operating model. I dont see a Board that is production focused. AR3 is primarily focused on exploration.

I don't see a team with a solid background in bringing a project into production. Hence my position for holding.

Yes, ionic clays are seriously a positive, however, the costs getting a rare earths operation are significant and we will require significant project funding for that to happen. We are looking at several hundred million in project funding.

Each CR dilutes shareholder value. HAS had to dilute 5 shares to 1, as the number of shares at the time was ridiculous.

Now we are after Uranium. We have so many leases under surveyed I can't keep up with what's what.

Hence I don't keep my eye off this holding.

As I said before I'm happy to hold and buy in dips, even though I'm below original buy in.

cheers.

gltah.