Ann: General Security Agreement, page-665

People just have to be self aware & at the same time not delusional

• Julimar is going to be Australia's biggest ever palladium discovery
• Ditto, current the world's best palladium discovery
• Palladium price has been on a freight train on the loose
• The Palladium equities market cap is fairly small so all the money pouring into the ETF's that play in this space which CHN would be a major allocation floats all the boats
• This is similar to when all the Gold ETF's, funds and various indexes were at the highs last year, lifted all equities and they all were sold down in tandem, I've shown an example of this previously tracking the movement in holdings of an ETF
• The reality is that the narrative for CHN aligns perfectly with the record spot prices, whole world's attention & lack of competition, so it makes for the perfect space to be in.
• However, the reality is Julimar is well over a decade or two from production and ofcourse punters are predicting the price is going to continue to moonshot, but that is rarely ever the case
• The narrative of continue high demand for the metal is somewhat bullshit, because demand hasn't really increased, instead a supply constraint, similar to copper
• Punters that are in the money, say over 200-400% in profit would be best to continue to ride the market for now but set a loose trialing stop loss of say -30% because who the fck knows how long this freakshow will continue.
• I have made money but have also been burnt in the past investing in exploration plays that didn't quite have a clear path to production or monetizing their asset, or were fairly late in the bull market cycle and once the ability to raise capital was hampered, they were fcked.
• Afterall, that is the fundamental driver for investing in exploration prospects, discovering good prospects and accelerating the development of that asset into production...