Ann: Quarterly Activities Report, page-4

It is a good thing to minimise outgoings and avoid CRs as much as possible.

However, when this is overdone, a company with many assets and opportunities, like KRR, can actually put a brake on some or all, and take a very long time to achieve monetisation, because so,e or all will be starved of appropriate levels of development resources.

From an ex shareholder's perspective, that, in my view, has been the case with KRC/KRR. Under funded, under focused, undermanned.

I believe there is very likely merit in spinning off some of the assets into separate organisations via IPOs to give them a life of their own. KRR shareholders would get far larger benefits and get them sooner, and so would the KRR entity.

The parts of KRR that could form self-governing operations are:

1. HPA from industrial feedstock (like A4N)
2. Gold exploration, development and production
3. Vanadium, titanium, etc development and production

Each with its own management team, own funding, and focused solely on developing the business it is in to increase shareholder value.

If all three were to be spun off, KRR would remain a holding group with its own executive and funding.

Existing KRR shareholders would become shareholders in each one of the above entities thereby benefiting from the increase in the resources that will be applied to develop each asset and providing a much faster path to production for each.

Those, who like me, have spent a long time invested in KRR and constantly being disappointed by the lack of progress my better understand my views.

I have lost heaps but am looking to reinvest at the opportune time as KRR clearly has many valuable assets. However, the only way to really start moving forward is to give each asset a life of its own by assigning appropriately skilled management focus, appropriate funding, and a very clear objective.

GLTAH, we all deserve to be successful.

All IMO and DYOR etc.