Ann: Copper Exploration Update, page-69

I share the frustration, with a couple of blockages which should be cleared in due course. Firstly, Covid is a real problem and I would rather live in Australia because we remain healthy and not like other souls around the world who are dying like flies and tight restrictions are now being imposed in those countries because they realise it is a matter of survival. I have some insight into this given my wife is a senior medical scientist in charge of a medical laboratory. While we have restrictions in resource labs etc., drilling activity across the country has surged and the backlogs are significant. Did they not signal there would be delays? Of course the sharper end of town will hoover up the loose shares and on sell at any opportunity in the next push up as things come to life in due course.

Secondly, the reality is that a new MD has to take time to assess how to work best with stakeholders in a strategic way to change the culture and phase out the old guard thinking. Been a fair turnover these last couple of months and new blood who hold a few will have more say. Of course it is important to protect capital and that should be part of the risk/reward in evaluating the trade. This is a very speculative stock but it is positioned in gold and copper for the upside if new management can get the job done. At these prices and program being undertaken, the reward far outweighs the risk. I look for greater than 3:1.