Ann: Opuwo Exploration Update, page-21

of course you are bratty
and yeah I flip flopped but I always tried to be up front with Rob and Andrew. discuss our reasoning and thoughts. my goal was to give management a rev up. the group just wanted to forge ahead before the agm. too impatient for my liking. of coarse I got worried when Brendan's focus moved to tomorrow. but to date as a non-exec has done what he sad he would, lower costs, keep Opuwo in good standing and searching/doing DD on a new project/MD. I think we need to be patient on a project and select very wisely.

I just find yourself, lfc a bit biased for my liking, that's all and for what sort holdings? day in day out all tin hat sort of stuff. there's barely an ounce of reasoning or evidence in most of it. tell me who are you voting for? who do you have in mind to get us out of this bind? it's pissing in the wind based on the current information I have.

in general I feel the group can't seem to put the industry into context and don't understand basic mining exploration processes. I've admitted there's been mess ups, that doesn't mean the whole thing is a sham, I'm not putting the tin hat on just yet. I think Brendan has a fair bit more integrity then most of us and puts out decent announcements as required to the letter of the law and hasn't jumped at the shadows of angry, frustrated holders (understandably so), but there's a little thing called reality - 35k/t and big producers have scaled back and have supply ready to turn on for any minor up tick. does that sink in? I think everyone holder can now say shit, we f*ed that up on that investment in the short term, I didn't understand what cobalt price is currently sustainable in the current supply/demand fsctors. when are the EVs coming.... A40 broke, pls barely surviving, everyone cutting, surviving, DRC closing up shop. even the Swiss "experts" that know the cobalt market so well. who will sort us out. getting a seat on the board to pump us on the marketing side, getting all there $ mates in, calling +100k/t, pump pump pump. didn't have a clue about the market/industry and some were (LR) sold out when the price turned to crap before us wee mushrooms had a chance and then bagging out the board because they lost a lot of money. where's the skepticism there on these guys? how many did the MD sell? as painful as it was CLA was the first asx cobalt company to shut up shop and admit the reality of the market, MD fell on his sword and went on to conserve the cash. we bitch and moan, but we should have sold.

I was talking about mudguts general case by case analysis. I've never seen such a biased nature from him and I'm just a bit surprised. I usually him voice of reason and maybe still is! not personal attack, just feel like yourself and Kurt have become a bit black and white, when clearly it's very grey, maybe I've lost the plot haha. none of us know the whole story, welcome to the real world and investing. I think it was a bit naive that the group could come in an extract information outside of disclosure, but worth a try I guess.

I just don't know how anyone with a ounce of reason can look to completely start again without putting a solid replacement and plan forward. it's nowhere near solid enough. Ive got too much invested. Borg has always put himself online, stated we would live/die by the cobalt price and the groups "backers" can't even put a name forward to lead this, that is poor leadership and how can you expect support for this? its out of the fire in the frying pan sort of stuff. what is their master plan in a industry currently not turning a profit? it's going to be the same old grind until things turn and the hope of new project to possibly turn things around but we have no idea who is steering the ship.

anyway I've jabba'd way too much and sounding like a broken record also. I'd just would like to see a bit more balanced discussion from all, but elections can do funny things

Cobalting out