Ann: Continuous High Grade Spodumene in Phase 2 RC Drilling, page-330

One of the things I really like about CXO amongst the resource rich tenements and great results is management flexibility to choose what to prioritize and what they can do to unlock value.

For example. as you know, given BMN, market cap, I have advocated selling off the CXO South Australia Fitton project, or at least putting it on the market or exploring an IPO of the asset, given the surge in Uranium prices from the Kazak production cut.. We could raise up to $30m for that or unlock up to $50m in EV if IPO'd. BMN is approx $50m in MC.

That's real value. And could double our SP easily. It could then allow us to buy into LTR or KSN and consolidate the entire area.

Mgt flexibility should be exercised now IMHO. A war chest of cash would also give them even more flexibility....for multiple drill programs on more than just Lithium.....or every major Lithium resource. Either way its great news.

When we last hit our highs at 15c in October, we had very little flexibility and still hit 15c and we have many more multiples of value. Grants alone could be worth up to $230m right now based on PLS' depost or AJM (it wasnt worth this in October) so our EV at 10th of that is rather low and we deserve a re-rate and major bounce.

Zola and Ringwood right now IMHO have no value assigned (how stupid is that ?) and Grants is valued at 10th of its value (Ridiculous) and Uranium at zero (Stupid also).

We are unloved until we are loved and have alot of current shareholder value, not yet priced in.

15c by March or end of the week.

DYOR.

GG