Ann: West Arunta Project - Luni MRE, page-224

Roughly speaking, you can follow my posting history but can't understand it...

My "huge amount of regular posts" a year ago was centred around debating bulls as HC was designed for and specifically working through a long 'desktop study' thread I set up for the purpose called "WA1... Econs 101". The conclusion of that line of investigation was Luni would be developed as a profitable mine and CBMM would allow entry of one more supplier while maintaining US$40/kg ferroniobium prices as the monopoly swing producer. My final remark was along the lines of "congratulations, you are holders of a Lassonde Curve baby..."

The reason WA1 took off again from $6 imo was exploration success in tripling the size of Luni from early drilling that seemed to close off the western and extremities of the carb. Exploration is always a probability call, just don;t know for sure until you drill it (and then mine it as so many junior miners going under when the blowtorch of reality is put to the MRE and BFS). I get it wrong sometimes like everyone else... just not as often. I was also very clear at $22 mid July'24 on return of my reasons for calling a top second time around, and for clarity I feel a lot more confident at $22 than $6 on the basis I'm a value investor not hot money momentum trader...

If I could short juniors I would and be very happy doing it, but alas without investment bank contacts and ability to arrange personal stock borrowing arrangements, retail are locked out of that market. It's my personal belief most shorting of juniors are made by large holders of the stock who are hedging their exposure shorting out wide instead of selling shares and triggering CGT or upsetting companies etc (in which case it's not a true naked short). The rest of shorts in junior market, which is rarely very large % of SOI, are brokers who know a CR is coming and close into the placement on the knowledge they will be filled. If you know how retail can easily and cheaply short juniors please let me know...

There is no disagreement on whether or not Luni is a valuable, world class deposit and hasn't been for 12 months (laterite carb explorers don;t reach $1.5B MC without big end of town being given the met recovery all clear nod well before the big reveal imo). The only question that matters now is what is the future share price path of WA1 as it moves through the years to production? That is a subjective call right, I made mine against the trend of bull/greed/momentum driven euphoria and time will tell how well that ages. If you can;t handle contrarian opinions, well, that says more about your nerves than your confidence I reckon...

GLTAH