Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-20

- Speed of progress, or lack there of. Things are moving, but at a pace that is costly to the shareholder. This discourages investment from those that see the stock as a one they can always enter later. People in this regard have criticised the management and their style. I don’t however see it this way. I believe there has been a lack of communication as there really has been limited amounts of new information. This latest announcement was case in point.
- our best target has been drilled. Yes we have others and hopefully get lucky, but the share price rally was on the prospect of new. Not tolarno.
-that pay rise. It has been mentioned a lot and a lot of people saying that’s just how it is. That may be so, but from my experience such a dramatic pay rise before anything has been done is not the best look. Paid more to go slower.
-Use of PR firms to ultimately pump the share price, this was both a brilliant move and also shocking. Great for the CR, but has left a stench of smoke andmirrors to raise funds, rather then through actual solid progress.
- new tenements, will give the benefit of the doubt here and would love an announcement in the new year to say that is exactly what the company Has been doing the last few months, rather then sitting on their hands and pay checks waiting for the rain to stop.


now the positives

-money in bank
-still plenty to drill even if not our number one target
-CR at top not bottom of share price
- money not wasted expediting results when there was early indications they would not be great.
- clever payment of drill operators with options
-valuation is getting closer to where is should be without the hype.

As previously stated not a down damper, holder and would love more people buying in. Just outlining some red flags I have seen in from experience in the past. A lot of these may be put to rest in the next 6 months but only time will tell. Hopefully the work has been put in behind the sciences. This is a rush response sorry hopefully didn’t miss to much or create to much of a ‘narrative’

all opinion and speculation not advice