This is my initial contribution to the ARU thread. I am not a...

This is my initial contribution to the ARU thread. I am not a current holder but some time ago unwisely convinced myself to take a modest position in the compamy by buying a parcel of ARUO options that are due in late February (at 0.340 !!). My theory at the time, which was when LYC was having difficulties with tha Malaysian authorities, was that when that issue was solved the future of REE developers generally would be brighter.

I continue to believe in the prospects of ARU, a view that was reinforced by my observations during today's Zoom discussion. Obviously, at the prevailing SP I will be abandoning the previously acquired options. Buying fully-paids raises two concerns - one, current PrNd pricing, which does not seem to be an kill issue for the intending capital funding syndicate, who have a long-term strategic view; second, the activities of 'shorts', with several suggestions that this activity may in part be driven by geopolitical actors. I thought that ARU Chair's recent letter to AFR was a useful contribution to this issue.

With that background, I was prompted to comment on the proposition that, having just completed a CR, the company should now embark on a share buy-back. To me this smacks of game-playing and has the potential to negatively impact the company's credibility, possibly doing more harm to the SP now and in to the future. Additionally, I wonder what view the intending members of the project funding syndicate would make of this about-face. Surely their continued commitment to the company is paramount.