Hi Fellow Holders,The Non-Holders have already been placed on...

Hi Fellow Holders,

The Non-Holders have already been placed on Ignore!

Yesterday and Today is a shock starting from reading the results to date followed by listening in to the briefing which did not give me much hope watching the share price fall as Dan went through the paces.

On the run up to this report and outlook from 30^th June 2021, we had been informed of record drilling results at Federation,new high grade gold intercepts at Dargues, extended high grade mineralisationat Kairos, strong growth in Group Mineral Resource tonnage, increasing 63% andfinally Higher Group Production Target tonnage of 7.8Mt, a 53% increase from 30^thJune 2020.

Previous to this, I managed to arrange Dan to present Aurelia Metals at the Brisbane Investment Club, which you are all aware of and the presentation that night and comments was all positive to the point that I, my Son and fellow Investors thought like ‘Exised’ that ‘there was a flicker of positivity’.

I listened in to the Investor Conference and the tone to me sounded as previous, upbeat and positive. I was surprised that only 2 Investors, both from institutional companies had questions for the Management Team and the conference was over pretty sharply well ahead of time. Dillon Kelly of Ord Minnett asked a few questions and interestingly enough, from my research below, Ord Minnett had previously raised Aurelia Metals Price Target 21% to A$0.85/Share!...I wish!

Seeing the SP plunge right now is a huge disappointment and has to be the much talked about topic by the BOD’s asking themselves ‘what the hell has gone wrong!’

Thankfully, Helen Gillies (Non-Executive Director) having currently 250,000 shares at a cost price of $0.374 share ($93,500.00) and Robert - Bob Vassie (Non-Executive Director) having currently 250,000 shares at a cost price of $0.40 share ($100,000.00) must be giving it to Dan and reminding him of what they value – Integrity, Certainty, Courage and Performance.

Retired now but previously holding various Senior Management Roles including positions as Group Operations Manager, it was always my intention to make a difference and get results, which should be shown within 3 months of Performing in the role. I achieved this at every level of my career and knew that I was responsible if the results did not ‘stack up’. The point I am making here is we have seen some excellent results come from Adam McKinnon and his exploration Team, some increase in Business Development (LinkedIn and the like) but the SP is taking a battering because at present, this just isn’t enough. Overall the operations have to be humming and that includes keeping a keen eye on the bottom line.

The killers in any business are freight and labour. Unfortunately I had not completed this analysis prior to yesterdays events but the labour I was witnessing was giving me cause for concern.

Here is my Analysis on the labour alone:-

Labour Movements+A127			Notes
Month	Employees	+/- %
Jul-19	85		Start of FY 2019-2020
Oct-19	90	6%
Nov-19	90	0%
Dec-19	90	0%	Dan commenced 25th November 2019 - Currently 90 Employees
Jan-20	91	1%
Feb-20	95	4%
Mar-20	100	5%
Apr-20	101	1%
May-20	106	5%
Jun-20	107	1%
Jul-20	105	-2%
Aug-20	106	1%
Sep-20	110	4%	Aurelia Metals has cash on hand of $105M
Oct-20	111	1%
Nov-20	112	1%	20th Nov - Aurelia Metals Price Target Raised 21% to A$0.85/Share by Ord Minnett
Dec-20	117	4%	17th December - Dargues Acquisition Completed
Jan-21	126	8%
Feb-21	128	2%
Mar-21	133	4%
Apr-21	132	-1%
May-21	132	0%
Jun-21	131	-1%	Aurelia Metals has cash on hand of $75M, a decrease of 29% from September 2020
Jul-21	132	1%
An increase in labour of 47% since Dan commenced with Aurelia Metals
An increase in labour of 13% since Dargues merged with Aurelia Metals

I remain positive on Aurelia Metals as I have a vested interested and it remains to date my most profitable stock (for me) to date. I, like you all want to see this above the $1 mark, where it belongs. I never sell a stock at a loss and yes my current holding with AMI is in negative territory but I would never release the shares for the ‘sharks’ playing with ‘other peoples money’!

GLTAH – Patience is unfortunately what we have to deal with right now.

Regards,

Peakabooau