Ann: KRM receives Exploration Permit for Drilling Penikat Project, page-37

Good find. Sounds like there is a bit going on in the background with significant parts of it becoming visible soon.

Some key points discussed
- Interesting to hear him go into why they have grabbed all the land they could and clearly BHP has seen the same potential (same geology/belt appears to continue north into Norway which has been considerably underexplored, have over 200km of potential strike with outcropping throughout. Went into some detail regarding Sami/reindeer herding), expecting to have boots on the ground soon

- Whether you think ESG is actually beneficial or not, it is clearly giving them them opportunities other companies won't get

- Follow up drilling at Rana next month, appeared excited with the potential due to prior results, electromagnetics and the proximity to infrastructure

- Still on the hunt for an acquisition, mentioned the preference would be copper and hinted that they have been looking for a while, won't be jumping on a hot sector and currently had a shortlist but no timeframe. Perhaps a bit of hindsight bias, but has been a good decision to be patient and not overpay while things were hot in the prior year or 2, he made it clear they can get much better value for an acquisition now with so many specs having struggled recently and raising money now much more difficult, mentioned with current market conditions they won't be having companies raise significant money to outbid them which had occurred in the past

- Appeared to have a bit more confidence that they will be drilling Penikat over the coming Winter than I have (although was still a bit hesitant), obviously this would be significant if they can, was confident that appeals would be dismissed if they occur due to no appeals having been successful prior and the work they have put in to go above and beyond the requirements