Ann: Placement and Fully Underwritten Rights Issue, page-39

Hi, just sharing my view — I entered recently at $0.002 and loaded up more today after reviewing the reset.
What I see now is a clean rare earths explorer, not the company from 2023–2024.

IMO:
This isn’t dilution. It’s a restructure and rebrand into the REE corridor between Dreadnought (DRE) and Hastings (HAS).

They’ve:

• ✅ Exited non-core distractions (Lady Grey, Koolya, kaolin)

• ✅ Raised at the floor ($0.001), cleaned the cap table

• ✅ Rebranding to Fortuna Metals — name reflects their rare earths direction

• ✅ Sitting on 100%-owned ground bordering two JORC-stage REE players

• ✅ Following historical work from BHP, Newcrest, and Newmont — zones that were never properly drilled

And now:

• 30:1 consolidation clears the microcap stigma

• The new board has underwritten the raise

• Ground is in the same structural system as 40Mt+ DRE and $200M+ HAS

If they drill and confirm even 5Mt of REE, the current sub-$10M valuation gets left behind.
If it’s more — this could be one of the most underpriced corridor assets in WA.

I’m here because the structure, neighbours, and strategy finally align.
I hope for all holders that this is leaves LNR in the past and starts producing real results for all that have held.

Cleaned up by AI