Ann: MRG HMS - Significant Second Aircore Assay Results, page-86

2IC - Your tone on Mutambas position within Savannah seems to have changed substantially? See below:

I refer to one of your original posts before the concessions were granted saying the reason they havent moved forward was due to poor economics...."What about Mutamba, the direct analogue MRQ put up as aspiration peer? Savannah have largely moved on to lithium in Portugal because the economics is just not good enough imo. Since the May 2017 Scoping Study release it has hit a PFS go slow waiting for the world to run out of TiO2 or something."

I think the comments here from@2icare fair based on the currently available ASX information. As stated this may change in due course with only 23/82 Holes (and the lowest visuals) being received to date. So i think upside is on the MRQ equation from here.

Happy to work off your spreadsheets for now if you like and compare to Savannahs Mutamba Deposit and vauations:

Please however make the factual changes to the RIO ownership which currently sits at 80% and not 49% as stated in your post.

Now, whilst we are here can u please ascertain what value Savanah puts on this asset within its portfolio? Would suggest given the struggling Lithium market and all the recent news flow on the AIM is based around the progress of the Mining concessions in Mozambique that this (Mutamba) is the flagship asset in the stable. Noting the SP on Savannah has gone backwards in line with the struggling lithium markets over the past 12 months. UNTIL THE CONCESSIONS were granted and SP has jumped 50% on the back of it

So using the real status in that Savannah currently own 20% of Mutamba and have the ability to earn up 51% it would seem that given the current Market Cap of Circa $65 Million on the AIM for 20% would highlight that we are grossly undervalued.

I dont disagree there is a LONG LONG way to go for MRQ but the realities and that at 3 cents with 8 holes the market got ahead if itself however i think we both know that the overselling will be corrected in the short term (next week or so) in line with a reasonable MC.