Ann: ENTITLEMENT ISSUE EXTENDED TO 21 OCT 20, page-125

I'm seriously stoked by SHs getting behind the recent consolidation and CR for our private drill campaign... especially after LT SHs supporting approx 8-10 CRs previously.

Many saw s32's shock departure earlier this year as a massive kick in the guts and the beginning of the end... however, the final Independent Riqueza Report was not out and covid was cited as the main reason why majors dropped explorers from their budgets (I think up to 75% did). Also, we later found out that s32 lost 82% profit over the previous year.

So when the final report eventually came out full of promise and praise from the consultants, and now that we own 100% of the project (not 30-40%) and more than 50% of the company, I think it was Kiwi who said something like "Good riddance s32 now let's get up a SHs drill campaign and drill it ourselves!"

I admit I admired Kiwi's enthusiasm but quietly wondered if we would even make a dint in the $7.5 mill CR without a JV onboard... obviously, the Doc thinks big and wanted cash to fund both Peru and Oz projects.

However, although I was skeptical at first, I am not now. All the Ann's to date have been stunning, especially the new 'first mover' Oz tenements and Government funding. Further, all these projects were locked in pre-covid and at the beginning of a new PM bull era which can last 5-6 years.

So congratulations to the 3 courageous amigos who made this happen and all the faithful SHs who have been thru years of wilderness yet still dug deep into their pockets to make this current drill campaign happen.

Win, lose or draw let's finally sink the drill and see what we've got!

Poet

PS I personally put in $45k... would've been more but one of my daughters needed a loan for a house deposit