Ann: Successful $8.1m Placement to Expedite Muckanippie Project, page-57

Hello. Look, I really like the BOD. They've done a great job with something I guess was not so orthodox. I'd guess the BOD were/are also on a learning curve. But people here had some complaints about the placement and other things. For me, personally, it was not a big deal, because i sold PTR at 42 cents and NYM at 7 cent and then bought back much lower (I am a trader for tax purposes so CGT is not a factor for me). I think the 22 cent raising was fine for where PTR is at. I posted I predicted a 25 cent placement on 6/2/25. However, for me, I would have liked more drilling done at Rosewood; at least 2 more drilled lines for announcement on 6/2/25; particularly since one of the drill lines (circled in blue) was a dud. I'm just saying PTR had the market at their feet and, for me, the 6/2/25 announcement was underwhelming. PTR lost the momentum they had. I personally felt there was a lack of urgency. Compared PTR to MEU. While the MEU ground is smaller, MEU have already drilled out their prospect on a 250 metre x 250 metre spacing (apart from one drill line that is 500 metres apart), which I guess will be a Measured JORC; or otherwise very high level Indicated JORC. MEU are not messing around. But with PTR, we have to wait another 3 months or more for new drill results. I really like and am grateful to the PTR Board. Everything has been super professional and transparent so far. However, I strongly believe the market wants to see tonnage. PTR could have drilled out Rosewood by now to an Indicated JORC and the market would have taken notice, imo.