Ann: Investor Update NWR Sydney Resources Lunch 2024, page-38

Rob, why don't you post on stocks you own. First off, you were offended that I said you were "gas lighting" and then open up with a comment "even a five year old" in reply. Look up gas lighting and see what it says, making people thinks they are somehow inadequate or lacking in knowledge, altering their perception of reality and capabilities etc. I didn't expect you to prove me correct. I notice you cherry picked again with the falling off a cliff in April, after calling out that EQR were behind in mining, they go hand in hand, delays in mining also means delays in subsequent stages, but you then highlighted the April "cliff". I called you out for stating that it takes time for stripping the overburden when it is clearly stated in the EQR announcement what the expected time was, it wasn't an item that EQR neglected.

You finish by saying you think they will survive (agree) but 2 weeks ago you said both G6M and EQR wouldn't. I don't know where you are coming from expect as a trader who is blatantly trying to manipulate others,

Now look at this recent effort, they are losing 1.3 million a month from the half yearly, I assume you base this on the table that has equipment depreciation etc that are "book" losses. What about the most recent quarterly? they are losing around 450 K a month, at much less than desired production rates, from operating activities, but nothing like a half truth to sow the seeds of doubt. Yes financing costs becoming an issue, hence CR on the cards.

"Then you have Saloro which also looks like production has underperformed" What basis do YOU have for stating this. I too, am concerned with the lack of information, but you infer that it is under performing, or at least want to seed this in other minds, without evidence.

"It is a given that last quarter was another loss at MC, The 1/2 yearly shows they were losing $ 1.3 million a month and there is not even poster on HC that has said that production under 600t is profitable."

Let's see, last quarterly receipts were 3.3 million at 120 mt month. So 500t is about 4 and a bit times this so 13.5 million. production cost will increase but in a ramp up phase this is not linear, assume production costs treble, staff cost, and overheads remain the same, so about 12 million costs.

They have to get there but profits are certainly possible with less than 600t per month. Lets not forget that there are definite signs that the tungsten prices is heading north, helped by China reducing its output, to preserve its tungsten resources, by 1.6%. It's not a lot but will help increase prices.

I do think they will require a CR, just want it to be in the 8 plus cents range not at current values. And want you to go away until you can add something constructive, which includes negative comments with some basis of fact.