Ann: TNG Election of Directors at Annual General Meeting, page-42

Thanks Dollars,

Can't argue with any of your logic there, especailly the emotional attachment - I've definiterly made that mistake with his one also.

However, I don't subscribe to Mt P not being viable, well not on the back of these reent announcements anyway. While I believe PB has misled the market for many years, the facts remain:
- SMS heavily invovled and stated as bullet proof on the back of CSIRO modelling years back.
- NT and Fed Major Project Status, amongst other critical mineral status etc.
- products in demand and future demand only going to get higher, so NPV and DFS metrics need to be adjusted for revenues also, not just negative focus on CAPEX and OPEX increases.

I agree CAPEX will be huge murdle, but I also believe we will not be a $100m Market Cap for long. We have been priced at this level based on lack of belief from the market that management could deliver, or incompetent management as I prefer to use, and that is changing before our eyes.

I attended all the online AMA sessions (couldn't attend Melb roadshow with Covid) and GW was upfront about CAPEX increase, and don't quote me as I am going from memory but I do believe a figure was mentioned around the $1.5b - $2b range and not an eyelid raised with his connections.

The other obvioust hurdle that TNG has refused to provdie accurate details on are CLC talks, and again I believe we are in the right hands now to have that addressed and communcated. I realise that GW won't be able to pressure CLC, but I am of the belief that they will be a lot more receptive to talking to TNG under GW than current management.

Anyway Dollars, wishing you all the best.