Ann: Non Renounceable Rights Issue Prospectus, page-39

Hi LK,

first of all, please desist from the abusive language in the direction of other posters. This only detracts from the value of your contributions to this forum.

Moving along, the quarterly is due out by Friday this week. As we have so far heard nothing from Conico about the start date of their upcoming drilling program in East Greenland (Ryberg, Sortekap and Mestersvig), I am assuming that this week's quarterly will include this information i.e. I assume that TAJ and his team are already packing their bags and equipment in order to set off very soon on what will probably be their most important voyage (so far) to East Greenland (if they are not already underway?).

As far as I know, the abrupt end of the 2021 drilling season was weather related i.e. moving drilling and other equipment to other locations e.g. Mestersvig, was not going to be easy.

I agree that that the main focus of last season was to drill Miki, Sortekap etc. on the basis of the existing data available at the time, which had already given TAJ and his team several high priority drill targets, which we now unfortunately know gave very misleading information i.e. TAJ and his team drilled in the wrong place. Having said this, the assay results from last years fateful drilling program, have now given TAJ and his team a clear indication of, IMHO, where not to drill!

Fortunately, last year, TAJ and his team also had the foresight to undertake an extensive and brand new EM survey as well as collecting other important geophysical data from Ryberg and Sortekap at the same time. This new data, coupled with the old data, should now have given TAJ and his team a perfect blueprint of exactly where to drill.

As a major bonus, TAJ and his team now have new data about Cascata (there wasn't any old data!), as well as discovering the highly interesting Pyramid and Quest prospects.

IMHO, the Pyramid prospect could end up only being a huge mountain of magnetite (hence the extremely high measured magnetic signature i.e. 10,000 nT), which would be a major discovery in its own right, or, it could contain massive Ni-sulphide mineralization (which has already been discovered at the adjacent Sortekap prospect).

IMHO, Pyramid is probably now the real standout target for Conico. Why?

1. Pyramid is completely untouched and unexplored.
2. TAJ and his team have their own EM survey data for Pyramid.
3. Pyramid is a ca. 3 kilometer-wide anomaly.
4. The measured magnetic signature is extremely strong at 10,000 nT.
5. TAJ has already classified Pyramid as a high priority exploration target.
6. Encouragingly, Ni-sulphide mineralization has already been found at the adjacent Sortekap prospect.
7. The Pyramid anomaly probably extends several kilometers deep


Summarising, Pyramid, Miki, Sortekap and Mestersvig are all high priority targets for this year's drilling season. With a cash balance soon to be over A$5 million (the RI is underwritten), Conico will now have enough money (as well as plenty of brand new EM data etc.) in order to undertake what will now be a very extensive and thus very complete "second" drilling program in East Greenland, which at the very least, will be highly revealing.

As usual, which is the case with every mineral exploration program, although I am very confident that TAJ and his team will ultimately be successful, there are definitely no guarantees of success.

It is now up to TAJ and his team to bring home the bacon. I personally wish them every success.

Wishing you and all CNJ shareholders good fortune over the coming months.