Ann: RRS Presentation- Paving the Way to a Greener Future, page-8

Have just read the presentation and underwhelmed. No justification for selling off Georgina to ARO to begin. Do we believe this has a $b valuation or not. The GRV Board is silent on the valuation potential of Georgina. Why?

In terms of Alpha we already know the bitumen story having been told that for several years. Big problem is it is carbon and will never get approval in Australia. In China we would get approval tomorrow. Answer turn to geothermal carbon offsets with the 51% acquisition of an unproven business that has no actual production capability in a competitive renewable energy industry. The sausage is the torbanite, the sizzle is vapourware, sorry for the pun.

The Board is gambling big time on potentially the project with less chance of success. Why not sell Alpha to a large miner and work to turn Georgina into another Mount Isa? Just a thought!