Ann: Successful Beneficiation & Thermal Testing - Perrinvale HPQ, page-7

Glad you're on board Sam. Rapid Lithium's MD is actually Martin Holland so not simply an investent for the benefit of Strata. RLL evolved from Armada Metals, originally an explorer for nickel in Africa with Ross McGowan at the helm. Cobre owned about 14.5% of Armada in 2023. The exploration didn't bear fruit and Armada started chasing lithium instead with Armada morphing into Rapid Lithium. The market lack of interest in lithium and the RLL share price tell the rest of the unfortunate story. So a legacy investment which needs work.
. The exploration at Kitlanya however is a far more attractive story with a solid history and with BHP now firmly on board (and with the CBE share price at a very attractive entry price) the future for Cobre is in my opinion looking very rosy, especially as Copper demand can only increase in time. No wonder Strata have CBE down as a 'high conviction investment' and still hold just under 20%. Personally I like to see the collaboration between companies as long as we retail investors ultimately benefit of course.