Ann: Noosa Conference Presentation, page-60

Thanks for sharing the viewpoint and I can agree with lots of this. I think many people here know the nature of a spec stock is high risk high reward. If the market was properly forward looking there would be no money to be made.

I think that while we don't have a spec stock operating in the arctic that we can point to, we do have several comparisons such as the udokan mine in russia which proves profitability. If udokan can be profitable in a harsher environment with far worse metallurgy then AW1 does have a really good shot, if it can make it to the production stage. We also have mines such as polaris on a more local scale showing that it's possible logistically.

I think the truth is never really as good as people say but also never really as bad as they say either. I'm also invested here because I am quite optimistic about chances for the DSO's success being quite high as AW1 has lucked out with the permitting situation (which I explained in another post a day ago or so) which removes a big barrier. I think that's one of the reasons taurus picked up the royalties. They expect AW1 will mine.

It might take a bit, but now that we're cashed up that's perfectly ok because fears of raising are no longer there to smash us down as well.

I just can't see more upside in other ASX listed copper juniors, so while it's not absolutely perfect here there is plenty to be happy about. I love the fact we actually spend on drilling, have massive upside open in all directions for kilometers & our chances of getting permits approved is better than most other juniors who will no doubt have to wait longer.