Ann: Initial Director's Interest Notice - Brazil, page-28

Some interesting conversation. The current share price below the SPP price of 9c likely reflects Mr Brazil isn't actively buying and the bitter pill of the upcoming Annual Report. We have a huge amount of Dragues to write off. We could even sink to a lower price given the lack of trust in the Board.
I priced the metals from Federation at $2.72 billion when Zn was $4500/ton and copper was over $13,000/t so obviously my pricing will have come back a lot, at least for the time being. Let's hope both these can recover. The world scene is a little difficult to predict at the moment but with the EV production on the increase, demand for copper will certainly stay high. Zn was about 55% of the revenue stream, then lead, gold and copper (around 6% of revenue). I agree FY25 will be critical. We re-entered Federation later than the anticipated date so it seems premature to get an update on progress. I still note the very high grade gold intervals (100g/t +) are near surface so accessing these might give an early boost in FY25. 12 months isn't too long to wait to see and is a better bet than jumping ship at the current price in my opinion.