Ann: Maiden Ore Reserve - Caravel Copper Project, page-19

Since the end of March the US dollar index is about 3% stronger and US 10 yr bond yield has increased by over 0.5% to about 2.85%. Normally we would see POG fall significantly. However, since end of March POG in US $ has increased by about 3% and in A$ by about 4%.

In addition the S&P has fallen a few % while Nasdaq is down by over 6% with Bitcoin down by 14%. Cu, Pb and Ni prices have changed very little, zinc is up and aluminium is down - overall non gold metal prices have been reasonably stable. Normally with a stronger UD dollar metals prices in US dollars would fall but that has not really happened.

This situation in the past few weeks seems quite bullish for POG and also metal prices in general (but 3 weeks is a short timeframe). I also view the SPs of most mid and junior miners plus developers and explorers as under valued ( except for lithium and some rare earth miners and some isolated cases).

I am interested in other views.

These are my views and May turn out to be wrong. It is not investment or financial advice so DYOR.