Spoke with Fabian today managed to get him on the phone. My take...

Spoke with Fabian today managed to get him on the phone.

My take aways:

Drill permits are done and dusted for Rana @rabbitoh no delays. Drill team is already on ground getting pads ready and likely doing road works. Rods spin 1st week of July. There is an impressive amount of money being spent on this geological work. North of $800K. Fabian didn't give too much away about what the team has uncovered since the start of the geo work (there's alot of modelling to do) and TBH I didn't ask. But reiterated what we already now that outcropping shows high grades on the under and unexplored areas and extension drilling is expected to return exciting results. I genuinely get the feeling from Fab that in the order of his resume he knows what they have there, and it will yield something significant.

The geological work for Rana has the team widely excited. Again they still have major parties interested in the detailed geological work they are currently undertaking and the drilling to come. The company is in close conversation with these "major" players. I personally would love to know who they are. But we await that news.

Remembering once they start this program the drilling will continue all year. So news is like gold right now. We want it and we aren't getting it. But we are entering a period where news should flow like a nice red.

Only takes one hole. Also his words.

Still in talks with BHP about future partnerships. And the possibility of an extension of the two companies conversations about future exploration. Possibility of a earn in for KRM where BHP picks up the tab for greenfield exploration and and KRM can earn 30% or the like. From my discussion there's are real possibility of this happening. I believe KRM considering their focused strategy on exploration are the team to deal with in the Netherlands.

Going back to to "majors" being interested. I said to Fabs is this a TO target right now? He said no I don't think so.. but if they found some thing of note here then yes this things come into play.

To my surprise they are actually meeting with the deer herders again for Porsanger this week. I'd all but given up on this project. But while Fabian expressed his frustration on the time its taking to get traction there. He noted that there is still forward progress. Me personally? I'm not here for Porsanger at all and from my conversations with Fabs to date realise that the herders are playing hard ball. But if we get traction there and get to drill it its a bonus.

Pennikat... not much has changed since I last spoke to him. My personal opinion is that we might be waiting longer to drill that than many here are hoping for. Best case a couple holes early 2024. Worst case likely late 2024. My biggest concern (considering how big my position is here now) is that the market might punish KRM for Pennikat permit delays or "green" oppositions post approval and it may counter act any serious momentum that Rana brings to the party. IMO downside is still limited here with cash and the potential at Rana and future discussions with BHP. All that said you just don't know. The market may quickly forget about Pennikat if Rana is a company maker on its own.

My first point of conversation with Fabs today was the increased SP pressure. He knows and understands the same things. He knows there are inherent risks in Pennikat approvals and are a likely driver. He also noted that the register needs tightening up. He said the co is looking at a marketing campaign to bring on some instos. This I liked the sound of very much.

On the note of any further acquisitions. They are not looking at anything that isn't drill ready.

Seriously recommend any investor that wants to know more about KRM give him a call. He is seriously generous with his time and its good to get it from the horses mouth if you have concerns and he doesn't sugar coat anything. Very profesh.