Ann: Trading Halt, page-40

It is correct. I've seen the term sheet. This quick CR will be fully subscribed before the end of the day imo. Then onwards and upwards. Having been involved in CR's with a much larger discount to the previous day's closing price, this is a huge vote of confidence from the market that the Board could resist any overtures from brokers for a bigger discount. $10m plus the $2.5m in the bank at the end of the quater will give them enough cash to drill away until well into next year, get the REE JORC complete and I suspect if the Yin infill drilling and carbonatite search proves succesful as expected, Dean and the Board will be able to put a tick next to that slide they've used where they highlight the aspiration to become the next DEG, CHN etc.

I first bought into DRE for the Kimberley prospects so if the Mangaroon REE story plays out, you can expect Dean and his yound geos to be lining up to receive a few awards next year. What a bonus! What upside! This is potentially dream junior investment territory for shareholders. And I want to give a big wrap to the Board and in particulalr Paul Chapman who I first met when he had a brief stint as a Director then Chair in the final stages before Avanco Resources was taken over by Oz Minerals.

I had a long chat with Paul one evening in Brisbane and left impressed that he was a Director with a lot of nous and aspiration to create juniors from the ground up that would eventually get taken over. You see his playbook in action here. It never takes as quick a time as investors would like but having had twenty years in the markets, this one is playing out as quick as you would see. And the execution is perfect.

I know Paul would be a perfect Chair for a young up and coming MD like Dean. It's impossible for an MD of a company like DRE, with so many projects on the go, for Dean to do it all on his own and I know the Board are actiavely involved behind the scenes. This is what you want when investing in a junior explorer kicking goals. No lifestyle Directors at DRE. And even Dean getting the opportunity to sit on the Board of another junior to get more broad experience as a NED is a great move as it exposes him to the tinking and strategy of others. It will broaded nis experience and that will ultimately help DRE.

I wish all holders the best of luck going forward. I thought I'd had my one lucky experience in junior mining land with Avanco, but DRE is shaping up as lucky strike number two. Just stay patient, these things never move in a straight line but it the progress with the drills, the JORC and MREs that eventually get you to a point where the bigger companies come knocking and you make your $$$. An exciting 6-12 months ahead.