as promised

As promised, I met with George last week. I went in with a very significant shareholder who originally introduced me to Image several years ago, and a media "personality" who is also a very large shareholder. I took in some of the comments from the thread for him to read. Basically he said rubbish!! Since we didn't take notes, I am not able to provide George's exact phrasing for the pedantically minded, but here goes, it's reasonably accurate.

All Illemite has a mixture of both. If people think there is a problem with Nth Perth Basin then why is Tiwest mining next door?

He has said $130.00, not $140.00.

The Scoping study was done with very most dire and pessimistic forecast re grade, cost of overburden removal/disposal etc. None of the southern extension of Atlas has been included as a resource. At all!! The Atlas extension virtually outcrops on the surface so overburden removal will be minimal. Expect a significant upgrade!! (George, not me saying that.)

In talks with multiple parties, we deduced at least five. "If Perth Basin is uneconomic, why are so many parties interested and spending money on their own analysis?" (George, not me saying that.)

Presntly drilling Hyperion Strand with large diameter drill bore for bulk samples. Assume that is to provide interested parties with more samples. Then moving to southern tenements and then Gin Gin leases.

Tiwest is expanding their pigment plant in Kwinana to the tune of $40,000,000. They will need stock.

Eucla Basin looks to be huge, some strands showing +700 metres width as per magnetics. Not pushing ahead too rapidly as he will let the neighbors complete their operations to help him better understand the deposits. Then target drilling.

Confirmed the Opes settlement approaches.

After the meeting we remarked how relaxed, confident, and enthusiatic he was about the prospects for the company. He flat stated that to us. "We are grossly undervalued with the number of things going on"

When He gets his Opes settlement I don't think he will be putting the money in a term deposit with the ANZ bank.