Ann: Appointment of Apex Geoscience & CEO Resignation, page-8

I initially thought the same but have thought some more on this. What has happened since Ralf was announced CEO? 1. Bought Minrex assets. 2. SQM farm in deal. 3. Addition of Wayne Richards 4. Commenced gold drilling. 5. Peter Batton resigns from board. 6. Ralf resigns from board.

There’s a part of me that thinks the addition of Wayne is behind this. His resume reflects much (much) more experience than Ralf. It certainly appears Wayne has more CEO/MD experience than does Ralf and Peter (my opinion from various announcements). Perhaps Rita has convinced him to become CEO. Rita obviously likes him - she has made mention of Wayne in every interview and presentation since appointment. Perhaps SQM is about to get a Board role and TBM is clearing the decks.

Mr. Richards will provide support towards the development of the recently acquired Minrex tenements (MRR) and will assist with the advancement of the strategic partnership with SQM on the Company's Lithium and critical minerals' tenements in the Julimar district of Western Australia.

Sounds like the role of a CEO/MD as opposed to a Board member.

The SQM comment is critical here. The word ‘advancement’ sound a whole lot more will be coming in that relationship. Frankly I was disappointed with the SQM deal - giving up 50% for a measly $1.5m. On the plus side it removes funding uncertainties if TMB does find something.

Something is bubbling away. Announcements should start dropping soon.

My guess pre-Christmas:
- Wayne announced CEO
- Decent Gold drill results
- SQM farm-in executed