Ann: Annual Report to Shareholders, page-3

Very busy here running a hotel in Tahiti (hence my absence on HC).

My brief take on the FNT AR is as follows:

1. Assays from Tolukuma are probably due out next week, or latest the week after. They should be good news IMVHO.
2. I expect a separate announcement about FNT's REE plans within the next few weeks. This should give the SP a lift IMVHO.
3. There has been an enormous reshuffle on FNT's Top 20 major shareholders list (apart from me) since the last Top 20 list was announced in September 2020. This is not all that unusual for a small-cap, and particularly given that there has been a massive change to FNT's future exploration activities i.e. their sudden entry into the REE race in SA. This would probably also be the reason why there has been significantly higher trading volume in FNT's shares over the last 12 months, which has no doubt sometimes put the SP has been under severe pressure i.e. every rally in the SP has probably seen at least one of the Top 20 major shareholders sell their shares.
4. ZERO NOMINEES PTY LTD/David Brian Argyle (our resident billionaire) has increased his shareholding in FNT over the last 12 months from 8.73% to now 9.98%. This is a good sign IMVHO.
5. FNT's biggest shareholder is now BNP PARIBAS NOMINEES PTY LTD HUB24 CUSTODIAL SERV LTD (DRP A/C) with 70,450,000 shares (10.98%). I am presuming that the holder of this large parcel is Southern Rare Earths Pty Ltd i.e. the company that FNT acquired in exchange for the 70,450,000 FNT shares (which were issued at 1.3 cents a share).

Good luck to you and all holders over the next few weeks and months.