Ann: Presentation - Noosa Mining and Investor Conference, page-670

Bruham, my average cost is very low although I have been pyramiding on the pullbacks. For me, the immediate development will come with some toll treatment of Steam Engine gold which is a shallow easy dig. Not all of it, but some of it, because I reckon the gold extends right into Bottletree through Eastern Ridge etc. That is not a ten year wait. The joint ventures will be an immediate injection to the price and not a ten year wait. With regards copper, then a wait for 10 years will dissipate if a takeover is launched in the near future. That's when the price will spike hard given the scarcity of copper. Lot's of options and much more than Bottletree. Undervalued assets even at these prices. Do the math, as Mode says on what they have already discovered. Tier 1 from my perspective. SPQ may choose the development path itself in key assets and dispose of others based on opportunity cost and SWOT analysis. Note the presentation says the juniors provide the greatest gain. I moved out of Lithium (CXO) which has peaked relatively to copper which the presentation also highlights. That`s why I pay close attention to business cycles and the strategic moves behind them.

I am not a short term trader, and each to their own which I respect. I get most of them right based on the available information. Been caught with bad managers like we all do at times, but that is built into risk and reward scenarios money management and the use of TA. Peter been very methodical in developing the opportunity for SPQ. No complaints from me with the tenements he has put together and the operations he has managed on a shoe string with active exploration which is ongoing. He has already taken a big chunk of time out of discovery to production. Rather that than a blowhard who lies in the speculative space who is all piss and wind. Have no time for tramps who reckon they could run a business in this modern era. All the time for those genuine people who want to learn more and contribute to meaningful discussion to enlighten us all. We never stop learning, especially about the hidden agendas of some posters. Their call sign is often in their name as code for their co-conspirators to enter the fray. Says a lot about personality and sentiment manipulation from a psychological perspective.