Ann: Quarterly Activities Report - March 2022, page-205

Hi Fulang66,

From your recent post you look to have some pretty good insight regarding the Tormin Operation.

You mention the GM getting sacked. Do you know how long he was there and did this all happen all around the same time Mark Caruso (MC) departed? I ask, as I'm trying to gain a better understanding as to why so much of the management have departed this company. Coincidently all have left after MC departed the company, and since all of their departures the company has really struggled to perform, especially under new management. I'm not talking just about share price performance (which is of course why all that hold shares are here), I'm talking operational performance; moving the dirt, processing the cubes and shipping product to the buyer.

In my opinion it looks like to me that the company have lost a lot of the operational capability, and that is what the previous management must have brought to the table. The record states that the previous management built the mine, operated it at a profit, and had the foresight to develop the inland ore bodies to take the mine beyond the beach borne deposits. You mention cable beach, which I assume a reference to the colour of the sand after the heavy mineral is screened out (depleted)?

Anyway Fulang, it is not my intention to go on about previous management, but would you agree that the current management (Jacob) really needs to look at rebuilding capability in the company (if not already) and keeping investors up to date on how MRC is doing it? As you are a fellow shareholder and someone with a good knowledge of the Tormin Mine Operations, I am all ears on what further insights you could share.