Ann: Investor Presentation, page-13

I got in lightly at .27 in Sep 2010 when it was gold focused due to a recommendation of somebody I trusted, light analysis and MT. Went much heavier in May 2012 after they shifted to Graphite as had early view on high growth in EV market and felt their resource was amazing. Felt it would grow substantially (10x) in 3-4 years which obviously didn't happen. The story made sense (just needed EV market to kick), resource world class, trust in MT vision and his technical knowledge. I then topped up heavy again in Feb/Mar 2020 at start of COVID as fundamentals hadn't changed and knew covid would blow through. Now I sit patiently (VERY patiently) again focused on fundamentals and knowing its a matter of time before the 20x+ if all the elements in play get implemented successfully. Having got in early and then got out after doubling money in FMG (only to watch it go 40x) and then hesitated on XRO at very early stage and watched it 30x i don't want to make same mistake as feel fundamentals of founder, uniqueness, ambition are similar. Time will tell.

(from one of their early investor pres in 2012)