Ann: Carbine to acquire the Muchea West Silica Sand Project, page-2

Movement finally.

i hold VRX shares which is a neighbour and so have been following silica sand for a while.

I'm not unhappy with this acquisition - there is demand for quality silica sand and the capital costs for production and preparation of the output for export is not in the grand scheme of things significant, there is also reasonable access to export facilities from that location.

Existing shareholders will be diluted which was to be expected given the financial resources of CRB.

Overall given the limited info we have at the moment I think this project is more attractive on the surface than Cockatoo was. It might be a slow burn for SP appreciation and there may be some tax driven selling on relisting but at least existing shareholders will have a live company with a project to hopefully see their investment in CRB on the road to some improvement - fortunately my average is not significantly over the option exercise price so that gives me some comfort if the vendors given their knowledge of the project were prepared to accept 6c as the exercise price of the options.

i think the old adage "beggars can't be choosers" applies to the situation existing shareholders find themselves in and for me overall at this stage I hold some optimism I will get my present investment out at some stage in the future.