Ann: Trading Halt, page-15

Given how quickly they undertook the drilling and appointing a team to develop the Ni deposit (my view of the TH),my speculation is they will drill out the resource this year to indicated status with some measured, do more met testing, and very late this year or early next year release a scoping study (which I speculate will be very robust)..

With the appointment of a development team I expect a capital raising in the near future and it would not surprise me if they source some of the CR from a cornerstone investor eg an investment fund, car manufacturer, a big miner (eg Glencore), a company looking for an off take, etc. Tolga will fill his boots up with shares. They will probably wait to see the SP reaction to the appointments plus announcing the cornerstone investor before the announcing the CR. I won’t be surprised to see the CR exceed $50m.

I expect also that the announcement next week will possibly set out plans for the rest of 2023, possibly as I set out above.

Are we witnessing the last chance to buy ASO anywhere as cheap as it is now? No idea but IMO it is a distinct possibility (definitely far from being a certainty).

My comments above are very speculative but IMO worth consideration.