New analyst upgrade - Shaw 42cents, page-6

It's not nice to say and I'm not proud of it but I am glad we (with a syndicate) pushed David aside with an EGM...true story! Great geologist but Posco pulled the chain for far too long and David couldn't close the deal in what was a 10 year resource bull market. I'm hoping that the lack of investment in sands, government (NAIF) and institutions wont let us down this time. I still tread with caution. We now have 3 institutional investors on board and a tight register which is something we did not have previously...

It's been an interesting journey and I'm hoping that this time is different. I'm optimistic that the sheer lack of investment in mineral sands is going to drive this aussie asset to a producer, from an explorer. If the Government is fair dinkum about investing in Australia, it's people, indigenous communities and keeping jobs on shore then i can't this project not going ahead. It would contradict SCOMOs vision for future Australia.

Good luck to all holders.