General Discussions, page-32382

At the risk of becoming annoying, repetitive, and a glass-half-full version of the contributors I dislike, nothing has changed in the past few weeks or months.

We own the Siviour land, have $110m in the bank, the deposit (with all its positive attributes) and probably most importantly, the have time-consuming permits, and a government loan guarantee. I'd also add we've garnered important relationships and connections with contacts in the government, and companies in north-east Asia. This is all for a $155m market cap. We'll probably even have a little income next year from farming activities on the pastoral land we purchased which hosts the future mine site.

All that has changed, today, and over the past 12 months (down 56% -- yuk) is the share price. Everything written in the previous paragraph is still in-play. And as Mallyrock said, offtake partners are looking for secure, guaranteed supply from a friendly, nearby jurisdiction with the rule of law. Not Africa, where supply is received in years one and two, then there's a civil war. Namibia and Botswana aside, Africa is not somewhere I'd like to do business.

DC gets criticised for flying abroad to meet potential partners, and government leaders, and for going to conferences. He's not on holiday (hopefully!). He would receive criticism if he didn't go. In the past couple of months we have received a webinar (with advance notice to send in questions), an AGM (more ability to ask questions), and the Noosa Conference presentation. There is no excuse for investors to not know what is going on. In the background he and the team are working on the downstream PSG Bolivar approvals, and the demonstration plant (which is half-funded by a grant) -- sensible. DC has been approachable to answer questions personally. His hair even looks greyer than it did two years ago when I bought my first parcel. My guess is he's working his behind off.

The share price performance sucks. There is no escaping that fact. The stock price is falling because people are selling, which in turn encourages more selling. But in my opinion, the time to sell was a year ago, not at 6 cents. In my case, it's a time to hold, and time my next purchase. This will turn-around (probably after a lot of wealth destruction has unfortunately taken place). We have a real project, at FID stage, in a tier one location, and when buying at the current share price, we're getting the graphite deposit almost for free. I totally understand the negativity towards the share price though. Personally, I am starting to see an opportunity to get my average buy price under 10.0 cents without committing too much extra capital to RNU.

All that said, a green today tomorrow would be nice.