Ann: Minyari Dome and Citadel - Phase 2 Update, page-42

The news flow is running idle because Antipa is waiting for the RIO decision. I'm sure they are working hard behind the scenes and have a flurry of news lined up to act as a counterweight in case RIO pulls out. The share price action over recent times is a reflection of this uncertainty. It takes some nerves to sit this through or to be buying. I am convinced RIO likes the targets and especially the quality groundposition, but will they like it so much they will proceed?

Exploration wise RIO does not give much information about their own projects, it is immaterial to their SP, so no disclosure needed. If they proceed with the JV RIO will have to disclose every step along the way, because it will be material information for Antipa. Not sure If they like to go down that path. They pulled on the Vulcan target a while ago after completing the initial obligation. That target is truly huge and they left it not adequately tested at all. Going by that it does not bode well, but Vulcan was the only target of interest in that JV. Antipa got heaps and heaps of targets and prime ground, RIO is even grabbing tenements of their own surrounding Antipa ground. That says a lot in my opinion and is part of the reason I bought a decent position again and am willing to sit it out. There is still some downside left if RIO pulls but I believe it will be short term pain. We are hoovering around the 52 week lows and seem to be in a basing pattern. Good management, quality ground and enough cash to undertake some serious drilling this year. It should end well either way.

Time will tell... glta