Ann: Magnetic Drill Targets Identified at Pilbara Gold Projects, page-34

Painful losses at Alita, at the wrong place at the wrong time. Still suspended at sgx and expecting it to be game over soon. i have long written off my losses and moved on.

For SYA, IMHO huge potentials here. But we are not out of the woods yet. It is still a risk-on play here at this moment.

NAL is the first hurdle that we need to cross. My "concern" is SYA management has setup the investors with such a high expectation of winning the bid. Failure to win the NAL bid will cause the SP to be punished hard. I sincerely hope the management team has got solid basis for their confidence displayed. I have chosen to believe that they have been in close engagements with the monitor that gave them the confident of success. However, last we want is just some plain stupid confidence out of nowhere. Time will tell whether this will be another mistake for me. And I will using this to judge the management team, whether we have a team of leaders that I can trust or not.

Second hurdle will be BAPE for Authier. I have very little confidence in Quebec government in moving the approval soon. Their will is there (won't even use the word strong on their will), their flesh is definitely weak. Just hoping it doesn't gets dragged out too far off. Not to mention Tansim which again have much grounds and potentials but will have to go thru the entire drilling, resources, bape etc. Not so soon.

Third hurdle is the WA gold. This is the plan B, should have been given attention in parallel but not sure why it was left ignored for such a long time. Finally the management is doing something about it now.

I don't like to put forecast on SP. There's too many unknowns and anybody trying to put SP targets are simply expressing their hopes they want the SP to be, not what's realistic. Target SP does nothing for anyone except giving people false hopes. We are in the right place at the right time of the market cycle. Now we have to see if we have the right team that does the right thing and execute. I have high hopes but at the same time holding my breath and closely watching on SYA...