Ann: Merger Presentation, page-371

Good morning Troy and thank you for the reply which clarifies reasons for your early investment in this project.

I was not an early investor here and first bought in in a small way in early in early 2022 after belatedly hearing RCF had become a cornerstone investor.
In my [first post to this thread] I tried to be clear about my rationale.
At the time I was aware that the future here - as much as can be predicted -was a long way from being ‘certain’.

Capital Funds, according to a very simple web search, have the same investment thesis you say you do.
Unlike Regal, Tribeca, Cannacord etc, these types of funds seek to profit by supporting quality companies at early stages and generally holdimg long term.
As was indicated in that first post, and since, I have much respect for RCF and this has increased as I have learnt more .

—For instance I was resentful when the price here dropped firmly under the 37.5c it had first invested at and for a while suspected it had rinsed its shares, selling when the price was (briefly) in the 50c range and buying back in lower down to reduce its average. But that is NOT what these funds do. They hold firm and aim to protect and even help develop the company and thus their investment.​

During my time here I have also learnt more about this company, Ian Prentice, and of the long term ‘war’ between some posters at Team AVL vs Team TMT.

Troy I don’t need to read all the back research.
I trust RCF and that when it did its early due diligence it chose TMT over AVL years ago.

I also believe its 2023 decisions to have Jacqueline Murray resign in February and to start building a holding in AVL the next month (which you will remember the TMT CEO thought worthy of a celebratory announcement!) was not casual but came of the excellent and thoughtful due diligence that led it to first invest in TMT.

You write that you believe my arguments “are very static to the current time and don't take into account future upside moving forward.”
I disagree.


I think potential for future upside, moving forward, is the reason this merger was proposed and has been developed to this point.

Cheers