Hey. Unfortunately don't have detailed information on that. But...

Hey. Unfortunately don't have detailed information on that. But I can make a guess.

Yerilla and Kalpini hub are still under exploration, altough 2 mln t nickel is proven in the ground. If we compare Goongarrie hub with Yerilla and Kalpini, then last two haven't even seen drilling yet. Even at Emu Lake, where 2022 september, we drilled 24 AC holes, shows that these projects are on a grass root level. After AC comes significant RC program and diamond after that.

What is the overview of our AC program ? As I've mentioned before, then with AC drilling, when we hit hard ground, we couldn't go any deeper and took final sample. So most of the holes out of 24, we got nice blue rock chips and it was good for the EOH and we moved on. Some of the holes we had to use hammer, because when hit quartz for example, it's not an information for company, so, hit quartz, pulled rods, changed bit for hammer and sent rods back down. Our deepest was last hole, if I remember correctly, around 70m, but most of the holes were around 24-32m (there should be announcement for that drilling as well). So now, RC program is needed to go through the ground, because we still haven't information, how deep are the holes with good mineral grade. RC programs are usually max up to 250m. If we still have good grades, then diamond rigs will go up to 500m or more. Yerilla and Kalpini hubs are still in the very beginning and company has initial information and idea, what's going on there, but we are far from actual and detailed project ready information.

So this postponed drilling program could cost up to 1.5 mil. Kalpini hub is so big and it still gives bit expanded information about the ground and belt. It gives may-be some sort idea about the mineralised belt, thickness, length, width but far from modular graphics.

So, we have already proven 1mln tonnes of nickel there, spending another ca 1.5 mln $ to get closer look is just too expensive and doesn't take us nowhere reasonable or logical place. So the main focus kept on Goongarrie hub. ARL still financed PFS and it's not cheap for "non operating" company. Altough JC will fund DFS, ARL has other expenses and every move swallows lot of capital.

I think they keep their focus on Goongarrie hub now and fund the upcoming drilling there for DFS. We have already proven 6.1 mln tonnes of nickel and 385 kt cobalt, more than next ca 12 Australian companies reserves combined. So let's get making money first and then we can take on and start funding and develop other hubs and projects. When money starts flowing in, these drilling programs will be like a needle in hay stack, moneywise.

I'm still convinced in my head that JC will get a chance to go all the way with ARL. I don't think ARL has to look for another partners. It would be much more easier to move on together, companies know ea and like AP said, they share same mindset. If JC gets future chance for JV, then we and ARL will have bigger share from Goongarrie project. If not, JC will get big bite. I think it would be honorable towards JC, helping out ARL and hopefully get nice slice of pie, to go along together.

Long long story short, with one sentence In my opinion, it was reasonable for ARL to postpone Kalpini hub drilling program at this stage to pull back expenses and focus on money hungry Goongarrie hub, getting operation and money flow running.

We can consider AP as older Gentelman already. I think he will step down at one point and enjoy last stage of life. I think he will get Goongarrie hub running, goes through full drilling program on all tenements and may-be puts cornerstone to another mine and retires. Which will be sad, but all this drilling takes time and after moneyflow, ARL has 2+ rigs everyday somewhere. Still long time to go