Ann: AIC Mines and Demetallica Agree to Combine, page-8

I think we (DRM , + A1M ) are a buy.

Its actually interesting if OZL haven’t accepted yet.
Oz Minerals are our JV partner DRM- and are excited by what they have seen in first stage of their drilling programme they’ve now committed to at Peake & Denison.
Within 50kms of Prominent Hill.

BHP are now in overall consultation and control ultimately of OZL.
BHP want Oz Minerals particularly for Prominent Hill and Carapateena.
Oz Minerals have superb management in South Australia, and their mines performing excellently compared to Olympic Dam.

I believe that Olympic Dam may be the biggest copper resource in the world.
South Australian copper resources to be a world powerhouse- BHP foresee this and need the security of the longterm major resources.
Significantly lower jurisdiction issues compared to South America atm.
BHP in tussle to gain Cascabel/ Alpaca with time also in Ecuador. But a lot of pioneering work to continue there and nationalisation of resources in Chile where the current global largest copper mines have been being mined for a century and the biggest mines now mining lower grades than the past 50+ years, and lower tonnage overall this year.
And potential for strife always .

OZL might be tied up in BHP atm,

OZL gave their share of Jericho / Eloise surrounding resource into Demetallica for further share holding DRM holding last year, on top of existing Minotaur, & then IPO DRM shares.
Also requested further investment directly into us (sorry not A1M I just only see now I’m replying in A1M. And I also already own A1M too) - however OZL put in further >$1.5 million, into DRM at 27c + in May.

Plus OZL actually spent the dollars doing the expensive diamond drilling programme Peake and Denison - with delays due to a central Australian big wet in May/ June & rigs getting bogged -down enroute for a month maybe.. before they could do delayed set- up and drill.
**Hence we know Peake and Denison is compelling and they’re excited and already committed on to further drilling.
—Potential for new Prominent Hill /SA style elephant sized copper base metals deposits.

With time the SA associated uranium at Olympic Dam and elsewhere is going to also become significant.
Chemistry been difficult for BHP.
But they’ll be set - up for reaping significant credits other metals / minerals and uranium which atm they simply sell into the spot uranium market as the non- price sensitive global uranium producer — from their mining in SA.
This will continue for decades & decades and maybe all this century at least - to come.
South Australian huge copper resources held by OZL and BHP = Huge. Significant and substantial globally.
** Where we have ..Peake and Denison & significant land holdings. Noting that others are already staking the ground completely around Peake and Denison already now ( Demetallica- to be A1M although A1m not acknowledging the significance potentially nor importance in their Takeover Offer!)


Can understand Oz Minerals doing the go - slow more —-on acceptance of A1M come - upance; after the long history of several decades relationship between Minotaur /DRM and OZL.

Minotaur team under Tony Belperio discovered Prominent Hill.
Minotaur and Oz Minerals have been focused on this region and the greater SA / NW NQld into NT region for the past 20 years.

Respect must be and needs to be given - to Minotaur/ Demetallica, and Oz Minerals together for their discoveries and multiple projects explored and spun- out.
Jericho significant - now so important to A1M ongoing , with lucky situation also with greater Chimera resources and land included for into the next decades.

Glenn Little is excited by what he sees at Peake & Denison and worked very hard this year for DRM— continuing through the MEP to DRM transition , drilling and exploration through the late summer in NQld and at Jericho.

I think we deserve a higher shareprice or shareprices.

Obviously final realisation for all to now occur in A1M.

Oz Minerals have been around a long time and formed Minotaur Exploration with all of their spun- out exploration tenements , back in ~ ? 2004– about 2006 work truly got going.

Andrew Woskett came in in the first years of Minotaur, & the DRM core team have been associated for over 20, & over 10 years respectively.

We don’t have to fold fast (DRM). Should also be earned.
Though is what is happening here with A1M, but we can still buy shares in DRM.
Will convert if accepted by next week.

But might be interesting if OZL shares for various reasons are delayed in taking up acceptance of the takeover offer ??

AIC Mines are achieving one heck of a coupe here with takeover of Demetallica, & for A1M script shares alone!

A1M are truly securing a long-life high grade copper + base/ precious mine at Eloise to continue at this point now already for well past this decade ++

And including atm— existing JV with Oz Minerals, to be BHP , in South Australia, at Peake and Denison.

I also think that potenially—BHP will maybe spin out a new exploration company? Or form a significant division?
(Aka OZL style with MEP way back in time ? )

Oz Minerals have decades of projects, and multiple smaller JVs and holdings with the most promising junior exploration copper companies in Australia.
Many or a large % won’t yield anything or yield anything greatly significant -
**but OZL and now BHP understand the absolute importance of being involved and having exposure to bigchances ,for *major discoveries, in multiple compelling areas and locations. *
And there is no possible way to do this by themselves.

Oz Minerals have had success exploration as the majors do and have- predominantly they must grow through acquisitions. No possible way they statistically can make the discoveries for the resources they needed into the future.
So much so- now BHP takes over OZL . Despite protestations that Oz Minerals was a ‘nice to have , not “must have”’.

Really they wanted Oz Minerals South Australian mines and potentials for way into the future but needed also to secure and make better with enormous potentials for Olympic Dam.

Obvious parallels here with how A1M acting.

**But Peake and Denison also very important for more significant potentials— OZL, now BHP to gain 75% upon expenditure of the total drilling amount through staged drilling this year and next year.
OZL, now to be BHP have this compelling exposure here, in DRM , for Peake and Denison, within 50kms of Prominent Hill.

Excellent junior to mid- tier exploration and mining development in Australia and elsewhere— is very important for global mining resources essential discovery for the world’s longterm future and mining development.
(posting before losing this- only quickly from my phone )

Respect is essential all round I think.

We are still awaiting Peake & Denison assay results.
Unfortunately would have been received a month ago probably if not for the wet conditions in central Australia and even indeed wet weather Cloncurry, delaying drilling and ultimate full results.
AIC Mines acted judiciously - moving to takeover DRM before all results and realisation by the market for the very undervalued market cap for Demetallica was recognised.
Although of course , Jericho is extension along strike from Eloise and DRM & shareholders held Eloise mine deeps resource continuation as been known for several years.

All the best. I hold both now.

DRM is a Buy and AIC still got to achieve 90% for shareholders.

OZL , & Peake and Denison going to be interesting.