Ann: Ambergris Prospect Drill Assays, page-14

Hi Mickhp

Thats a good question and I would doubt there’s any in the black and if they are it wouldn’t be by much.
I have no issue (other than I prefer the sp to be higher) with why we are in the red because the cycle of exploration is to raise drill, raise drill until discoveries are infilled indicated and then JORC compliant.
Fortunately Rob and team have been very successful to discover the four significant ore bodies, and to answer your question on the agricultural property angle, I’m sure astute investors here understand they are now very valuable mines in waiting, and sensibly they were bought to ensure Peel have no access issues by farmers and by owning them I suggest they provide some green carbon credits as well. Peel also spent wisely in hindsight and secured the underlying royalty at Wagga Tank so as we can now appreciate there’s no impediment to mining apart from usual red & green tape all explorers & miners must surmount in abiding by government regulations. From my perspective and experience as we are now quite close to legally enables to start mine declines the next phase of share price appreciation should come and all of us in the red can enjoy a higher sp without much of a tax obligation until jump well into the green!. As I’ve said for many years buy and hold rather than trade in these stocks as you pay less tax as long holders. There’s no doubt it’s been a hard slog but I believe the Cu short supply crunch is real and in such circumstance the case for a significant rebound is compelling. DYOR certainly not advice, but I do keep the faith, like other major long term shareholders.
Best to you Mick, let’s see who holds on to make a quid in the coming year or so, as the Cu Au and base metals matrix seem likely to appreciate in value. Cheers Sarg