Ann: West Arunta Project - Luni Assay Results, page-83

Not here for an argument, and yes, last time I called a sell was exactly 12 months ago ~$6.50 leading up EFY etc. i did a detailed evaluation of the Nb market and Luni economics etc that demonstrated Luni would be profitably developed (even in Oz, and even in the middle of nowhere) and that it was likely to have to work through the Lassonde Curve...



I looked right for a few months until extension and infill drilling showed a few early fences across the carbonatite were unlucky to miss the good stuff and what looked like a single HG deposit center-east of Luni eventually proved to be 3x the size and extending to the west and south more than originally indicated. Congrats to all as i said, been one hell of a ride yeah!

So, I'm back with another call 12 month later... and despite being up against a much larger MRE I'm also calling it from a much higher shar price. The economics don;t necessarily change greatly with larger size, at some point more tonnes are so far out into the future they add value in much diminished returns. Time will tell, no big deal I have a different opinion...

Meanwhile, I see two articles in the AFR this morning that made me shudder. "Call to reform Mabo’s $1b native title dividend" and another "‘Land rich, dirt poor’: Price calls for native title reforms" where Jacinta Price "while well-meaning, laws needed to change to encourage private home ownership on native title land, as well as more business creation, including Aboriginal-owned mines." Is there a better opportunity for the poorest and most remote Indigenous peoples whose land Luni sits on to be recognised as the traditional and actual owners of this great resource, and to be granted a significant ownership of the mine in recognition of these facts???

I certainly can't see RIO getting involved until the NT ownership share is well and truly locked down in a water-tight contract/legislation...

GLTAH