Where to begin? I could go on and on about this Study, but the...

Where to begin?

I could go on and on about this Study, but the criteria on which the Capital costs are benchmarked tells all., "against notable projects such as Suvo, Andromeda, Alltech, and Alpha HPA in the kaolin and HPA sectors". None of these Companies, (A4N aside. Not even remotely similar) have ever produced more than a Pilot Plant sample of HPA. So how can One possibly estimate Capital Costs based on their projects? I reiterate for the umteenth time., There is no Plant anywhere on Earth currently producing commercial quantities of HPA from Kaolin, or any other Clays for that matter. Further therunto., No possible HPA Offtake agreement for this product.

Tool's., Never have I indicated I'd apologise, nor discontinue Posting on this Company. The latter was Smitdawg and McHenry's undertaking. I merely offered I'd disclose what my Gripe with this Company, and its Management was. Namely, as some, righty or wrongly, have assumed Tony. Though he's just a Cog in a Wheel in my opinion.

Herewith is my Gripe., I am genuinely of the opinion that around 85% of all Junior Resource Companies listed on the ASX are Lifestyle Companies set up to Con their adherents. So it's very important from my perspective that I have a number of parameters in place to ensure I have the best chance of investing in the 15% that I deem are genuine (I get it wrong as often as not).

The production of HPA is a pet of mine. I have been involved in the industry for several years at various levels. So when I saw what in my opinion, I believed to be an in your face Con, such as CR9 (there are others. There's a Pandora's Box of them actually!) I chose to comment on it. Perhaps for the greater good of the general public. Perhaps for my own personal satisfaction. Beyond that there's little more to it. I'm not a fan of overweight desk top geologists either, but that's just a personal observation.

As you'd be, or should be aware? Due to the broad spectrum, imprecise nature, and low confidence base of a Scoping Study. One should discount whatever figure is proffered therein. In our house (And most I have dealings with) we generally discount a Scoping Study by around 90-95%., The Market is discounting this One as it truly deserves currently by 99.7%. Over valuing it at that. What does that tell you?

For what it's worth., Today is/was an opportunity to exit in my opinion. Take it or leave it.