Ann: Gold Coast Investment Showcase Presentation, page-494

Another level of contribution from Met2020, great stuff, thanks plenty!

On a quite different Renegade angle: I see the WA gold miner, Calidus Resources has gone broke, with their banker calling in the undertakers over the weekend. How does that relate to Renegade? Well, the Calidus non-exec chair is one of our NEDs, Mark Connelly. It seems they had got into production but a bad hedge book effectively killed them. Hedging is a game best avoided by single mine operations and pre-revenue outfits, and to avoid hedging companies will likely have to avoid debt as well. From memory, Renegade went "there" last year but some of the recent raise monies were used to close that exposure out.

And Calidus is not Mr Connelly's only source of corporate grief currently with another tiddler that he is non-exec chair of, Omnia Metals, being suspended from trading on the ASX since October last year. Omnia was one of over thirty ASX listed carpet baggers that sought to join in the Quebec lithium rush so as to raise dough and subsequently hit a wall. Some of them were fairly obviously more interested in the money than the lithium but FWIW I thought Omnia's intentions were genuine and what they proposed to be plausible. Doubt they will make it back onto the ASX though.

I don't know much about Mark Connelly but he's clearly having a dry run of late: not suggesting any of these travails are down to him or that they are linked in any way. I can only hope his success rate is about one in three.