Ann: Sarama Corporate Presentation - RIU Conference - Sydney, page-8

Hi Uncle,

My views may be distorted by hope, optimism, naivety?

I expected the amount raised had much to do with trying to get through to a time that there are improved conditions for raising capital and minimal dilution. Relying on gold price to be at all time highs by the next raise. I'm concerned that the recent financing may not last long enough for a gold dip with recession and the expected later recovery but I don't have a crystal ball.

I agree that PEA is much wiser than further drilling and may help SRR to get recognised in a way that another 200,000 oz AU can not.