Ann: Owendale Project Update, page-22

I don't expect them to sell any assets at this stage DM. Not when Pd and AU are showing signs of wanting to go northward. Way too early. But I do expect to see that long overdue precious metals vehicle set up sooner than later .... I mean Pd price has "only" doubled in the last year or two. And AUD POG is raking it in for the gold producers. I mean, I do believe they are smart enough to see whats evolving for 2018.

And add to that US and PRC proposed infrastructure spending and corporate tax cuts and other QE, shizen I wont be satisfied with only inspecie freebies, I will want more and more of whatever else is offered,

I expect AUD 100 bill IGV at Skaergaard mid term and adjacent and happy to see the auction start at 1 pct cap return on a sale but gotta do a DFS for reserves part first. Have consulted the gypsies on this and the chicken bones are very positive on the mid term macro drivers. Cant wait.

OWEP