Ann: Godolphin Farm-in on Advanced Rare Earth Element Project, page-15

Hi Jacko22- Yes indeed, this announcement certainly is "a whole lot different to the speculation on the boards the last few days" and seems to have surprised everyone including myself.

I also hold ASM (a fabulous story there, especially for those that received free shares courtesy of Alkane
Resources when the recipients of free ASM shares had no idea whatsoever of the listing price and the share opens up at $1.50 closes at about 1.90 and then goes onto double figures)

At this stage we don't know the circumstances and full story in regards to this ground and the j/v agreement.
I always prefer to give the company the benefit of any doubt and of course, perhaps an opportunity presented itself that we cannot see at this stage and if the major shareholder is okay with it, then I am also.

Rare Earth's are very much on the radar of Godolphin's parent company ARL - and I have no doubts that
GRL's board didn't just jump in without careful consideration. Maybe shareholders do not like it but at
least we know now that the company is proactive even if the board and management (with the exception of Ian Buchhorn) now have another opportunity to buy shares in the company that feeds them as a result of this announcement now in the public domain.

Share buying now by GRL management would be an endorsement of todays announcement.