TLOU DRILLING, page-5

The macro environment for copper is facing headwinds, globally many metals exploration companies are up against it, investors are shunning exploration stocks as China's recovery is slower than expected.China consumes 50% of copper for example annually. Energy costs for exploration soared as the Russian invasion of Ukraine devastated power supplies. Check out ASX exploration companies and many have SPs that are down >50% since 2 years ago. It's just a matter of waiting as we know the global push for decarbonisation and electrification will eventually create demand powerful enough to raise metal prices and then off we go again.

. I'm invested in the Kalahari project and have great hopes CBE will come up with the goods. Meanwhile the share price simply remains totally disconnected to the potential value of the assets. Looking towards the longer term is my position.