Ann: Godolphin Farm-in on Advanced Rare Earth Element Project, page-35

Hi Prawn Man
Further to my thoughts above.

When you look at the progression of resources that came over from Heron, we notice certain actions took place.

Phase 1
Heron to Ardea Resources

Phase 2
Ardea Resources spun out Godolphin and then Kalgoorlie Gold.

Phase 3
Then from both GRL and KAL there were resources that were sold outright and some divestment JV contracts materialized.
Now when we look at these sales and JV's we deduce that these assets did not suit our requirements, we did keep an interest, and the respective divestments took place.
We opted to cede our controlling position and divert our attentions to more productive endeavor.
Perfectly sensible.

Phase 4
Now we see that Ian has Joint Ventured into the Rare Earths project which shows strategic selection moving towards a desired end goal.
I see that we give some and take some.

I deduce from what I see that Ian is not collecting tenements ( If he was he would not dispose of any), he is in fact positioning the respective companies for success in a longer game.

Moving Forward
What I see is the very best tenements being held and when possible the opportunity is developed.
We are in the information gathering phase with Copper Hill East and have run into a positive brick wall called money. There is value there.
The solution may be to JV, I would welcome this and perhaps it is on the way.

With Lewis Ponds, I am sure that we are working on it.

With the new Rare Earth development we have a timeframe to meet, this will be met and I am sure that we could mimic ASM if the ground has what we hope.

Now here is a Jump To The Left, (As in Rocky Horror)
What if the rare earths prove up very quickly, and what if our share price mimicked that of ASM and Godolphin was the talk of the town.
Could we afford to do more with greater resources. I think so, money might not be so difficult at that point.
I see a picture evolving, DO YOU
RED