Ann: High-grade results enhance depth potential at Bombora, page-99

Hi Perdant well done. I had spoken to Tom back then as part of my job. He shared a list of favorite companies including RRL and was really straight with me. In my view, and I am not sharing the limited details I am aware of, the company absolutely did not fail due to Tom. He was obviously too methodical for them and so, once he was gone things changed at NAV.

They changed things for the worse it seems. We will never know what was possible with Tom still there but thanks to you the picture has some more parts to make sense of. We do know Tom pegged some overlooked tenements and led the team to where we are today. He is a company builder and lessons would have been learned. The spin off theory has gained weight thanks to J4K I did not remember any of that. I am excited to own some of a Li spin off if that is true it will be an excellent bonus.

The time line ticks away towards a fresh JORC, studies and a spin off - slow but I like it. I am an investor in this company which is why my personal time horizon is not too rattled by current sentiment. It is not exactly comfortable nor enjoyable but the behavior of companies with assets like this gives me technical confidence.