Moora, page-15

Boy meet plenty of people glass half empty but you don't even have a glass.

Still haven;t said why you have chosen to a Downies AQD inparticular? (plenty of others dig into, with much less professional leadership)

Agree the macro world is hard to predict now, inflation, war, COVID, recession, food insecurity is rising...

If war is solved, the war has created a split, Russia won't be treated the same for years to come, at the very least, neither will its commodities or businesses, large O&G companies dont suddenly decide to drop their investments unless the future is bleak. War unfortunately is very good for commodity price. Russia is a big supplier of energy, nickel and to a lesser extent PGE's and Copper.

If the war expands, bad for all of us, metals will go through the roof, there is a scramble at the moment for short term deliverable stock (hence LME shutdown) highlighting the percieved risk of events really going pair-shaped. (I quite like the shape of pairs).

There is a fundamental shift in the types of commodities looking at a future in a positive light, ie. we are still here, this again will keep prices higher for longer in elements AQD is searching for.

Success is not guarenteed in any exploration project, maybe you you should use that argument? This outfit is professional as they come for a small company, sub $20M MC. Amazing group of projects, work all signed off by South32, whihc is comforting for an independent evaluation.