Fundamentals and General Discussion, page-239

I think for FDR, proactive investment positioning is better than reactive positioning or chasing the stock after a deal is announced. During its 16 years as a private company they did some incredible commercial deals. For example, a $100 million deal on a multi project farm-out and also the Dorado discovery which they sold their equity for 10's of millions and retained a royalty, which is worth 100's of millions to Longreach once producing.

The founders of Finder (Longreach) put Damon in charge years ago because he is a deal maker and creates value while at the same time conserves company capital. Just look at the tight expenditure over the last year while developing our leads, and offsetting about half our quarterly spends with income from the JV partners.

I've done all the background research on the company and know the philosophy and goals of FDR, which is why I'm so confident. FDR is basically an investment vehicle with a proven history of significant value creation that also wants to become a producer. Our top holder is worth a quarter billion and backs the FDR team to make them 100's of millions more. Good company to wait with.

AIMO and GLTA

OS