Ann: Trading Halt, page-71

There are a good number of stale holders hanging around thinking about selling up and moving on. I can empathise with most of you as it's been a harrowing road. Endless broken promises, delayed drilling programs, capital raises at prices higher than today's, consolidation exercises, options that expire worthless and each action dilutes holders further. But it can be a mistake to confuse the past with the possibilities of the future. Grievance and performative outrage is never the answer.

From 2009 until 2019 Azure Minerals was scratching around in Mexico searching for silver and copper. Endless capital raises, expired options, broken promises and broken dreams. Then in 2020 it picked up some ground closer to home and sold out yesterday to SQM for $1.63 billion. I know this story more than most as I held the stock back in 2009 but got tired, jaundiced and weary and sold too early to end up with zero from yesterday's windfall. Unpleasant experiences are usually the best kind as they genuinely sink in. I've been etched bone deep by yesterday's painful AZS news. I'm not saying SBR is going to be another AZS but if you sell up now you'll miss out if it is. Risk versus reward. Tattoo it in large letters where you can see it clearly every day.

There's only a gossamer between a visionary and a madman. It's easy therefore to confuse Duggers with someone consumed by greed, pursuing a lifestyle over substance and stinging holders along so he can make another payday. But he's holding 7 million SROB options and nil shares. He's totally balls in to making something big happen by 30 April or he goes home empty handed. A big zero. Information is fast and cheap while knowledge is slow and difficult. What we're looking at here at Andover East and Northeast has been slow and difficult for many but it's worth hanging around for the endgame in my opinion.