Ann: Quarterly Activities and Cashflow reports - 31 March 2021, page-135

Hi dougjsmith,

Nice to here your a mining engineer, your assessment and detailed analysis would help greatly.

As far as my finance background and how I valued HCH.....

We look at many things, such as: costs v value added, where is the market going, what are the risks and benefits, how can we increase/improve profits. A good finance professional, doesn't just look at the numbers, he/she learns about the market and how they can increase the market share.

All these areas are fairly evident and simple to assess for HCH, just by doing some research.

Obviously you can't know everything, we do not have access to the internal information within the company, but enough is out there.

IMO, the biggest risk is Covid. Chile has been in a very strict lockdown, I am not sure how they will end up in the short term.

The major benefit...the market needs copper and will require much more in the coming years.

In fact, I do not think it was an accident that Chile decided to go with the Chinese Vaccine......The biggest producer goes with the largest consumer.....We all know how political the vaccine has been.

Obviously, there is much more...... But, please share some of your expertise on what you see in the drilling reports and announcements.