Ann: Drill Results Support Development Potential at Apollo Hill, page-22

Interesting commentary. I find it interesting that reference is made to Josh Pitt and his prior performance but then no one notes that he has a 8% stake in Saturn metals as well. also, may I remind he is on the board for Red Metal and recently bought all of Crescat Capital's holding in Maronan Metals.

If we are looking at past performance then i guess all three stock must be bought.

On the Saturn front, please watch Hedley's discussion on his technical analysis of this deposit, it is mispriced as the Aussie market is not comfortable with heap leach operations. also, it was beaten due to a unfortunate death during the drill campaign.

I have spoken to IB 3 times in person and he was very clear concise and knew answers to all my hard hitting questions. So he is thinking about all bases.

Mines take time to develop as it takes time to de-risk. IB has stated on numerous occasions that they engineering and scoping work done now for the pilot plant sets them up for the final full scale plant. So no major additional back end work needs to be done.

The pilot plant is of low cost and he has said it is roughly $30mill as it is 1/10th the scale of the final mine and pant which is roughly $300mill. This is not out of reach for this company and its market Cap.

The pilot plant is a de-rising event and they have shown in their presentations the timeframes they are working too.

Curretly the company is working to increase the resource size and indicated resource as per ASX regulations. They are also working on all the backend engineering studies etc. The team is focused on one asset and are determined to build this mine and grow beyond.

Due-diligence then Patience.