Ann: Beneficiation test work produces high grade REE concentrate, page-8

I am having a big argument with Cobra Resources plc which I founded in terms of pursuing our paleo rare earths project at Wudinna. David Clarke a highly respected person in the mining industry from whom we bought the Wudinna project with COBR the cash box we listed on LSE just invested $400,000 of his own money in the latest Cobra cap raise. He claims Rupert Verco whom I know quite well has turned the REE industry on its head with his new paleo business model. Even pegging large areas in Tasmania. My view forget REE - there are thousands of players out there and no way does the global market require but a fraction of all the trillions of tonnes being proved up and touted by so many companies. Meanwhile I do deals and get share prices moving with lithium -deal after deal - whilst the Cobra share price remains in the dog house. Forget REE -look at the Gascoyne -an absolute disaster. Its iron ore -gold - uranium and lithium at Karratha.