Ann: Trading Halt, page-40

Recent SP action has nothing to do with this PEA.

As an example, the SP action leading into the previous trading halt (June resource upgrade) was not all rocket ships. We had been flat for a few weeks in May, dipped slightly, and then only made some modest gains from 7th June when the company told the market the resource upgrade was 'imminent'.

Trading halts are only able to be justified when the company is in possession of market sensitive information (in this case the PEA) which it is not yet able to release to the market. Once our directors are presented with the final copy of the PEA (likely happening as we speak, they will want to review it to ensure the numbers and details line up, before they call a board meeting, formally vote and approve it for release).

Also, the trading halt doesn't necessarily mean the PEA is 'good' or 'bad'. and the idea of good and bad is not the best way of considering the PEA once it's released anyway. A 'great' PEA released into negative sentiment might still mean the market sells the stock for a short while.

For the record, most of the information which will be in the PEA is already able to be fairly well estimated by anyone who cares to spend the time. Obviously some metrics are less well known than others (e.g. some specific costs like labour rates, but even those can be estimated from Sigma's technical report with some degree of accuracy).

I personally don't have too many unknowns in my mind with this PEA. However a couple of unknowns are the final output configuration they choose to go with (i'm hoping for 500ktpa), whether they run a single stage or multi stage like Sigma and the exact Capex number(s) will obviously depend on this decision (however I'm expecting Capex to be relatively cheap regardless). Also, I am very confidence Opex costs will be on the lower side from a global average perspective - strongly supporting Colina as an excellent investment choice, even with spod prices trending lower (compared to operations like CXO who now have Opex above $1,000/T - Colina is likely to be significantly cheaper than this).

@kevin103 is going to have to try harder to downramp than 'it's deep and thin' - these misconceptions were already dealt with in the first half of this year.

Hopefully the company drops the PEA tomorrow morning rather than Thursday so we don't have to wait to long.

Other things to watch out for will be the time between PEA and first offtake agreement and how long until next resource upgrade. In a recent presentation CG hinted at October or November for the upgrade (but this has some large question marks in my mind given the lack of assay information lately).