Site Visit February 2020, page-253

Its obvious that the starter pit and economics in the PFS have only just scratched the surface of the overall potential of the Bawdwin mine. The success rate on hitting new targets has been excellent and there will be plenty of meat left on the bone if a major looks at a take over.

So, we are looking at a tier 1 globally significant mine which will be very long life. Making decisions such as, off-take agreements, funding (debt/equity), licencing/permitting, mergers/acquisitions etc. are all made with long vision lenses of 50-100 years. Current market sentiment is off right now now but that is predominantly in retail. We are in the Asian century now and China makes its decisions for the long term. Profession money, metal trading houses and majors all know this. The current market rout presents opportunity to those that can see it.

I say this because as we sit at 3c per share and MIC due to be potentially issued in a matter of a couple of months, I see huge value. Time will tell but management performance has been impressive and milestones have been delivered upon consistently so far.

Good luck to all investors.