Interesting, Desert.Soon after BHP announced the takeover of...

Interesting, Desert.

Soon after BHP announced the takeover of OZL, I had a rush of blood and bought a small parcel each of RXM, HGO, CUS and NWC. I have learned my closest scrutiny only comes with ownership.

RXM needs more drilling - isn't that always the case. It has been offered to and considered by every Cu major, without a deal being struck. Hmmmm. What does that say.

HGO has a four year mine life. The CR to restart it was super-carefully orchestrated, even down to two corporate bots on HC. I did not participate. IMHO, the main beneficiaries of the restart were prior holders, now able to monetise - and exit.

CUS is going gangbusters on drilling and good science, though there is no stock supply and price discovery is impossible (who would sell??).

NWC has a very exciting project in Arizona, yet is now drilling another prospect 75km away. Why? SP is well down on this move.

HAV secured a rolled gold buy-in from OZL during the BHP takeover, which set a benchmark for South Australian Cu hopefuls. It will be interesting to see if BHP does anything or bows out after fulfilling minimum contractural obligations.

If S32 wanted any of these, GK & team could have bought. They have looked and not acted.

Like you, Desert, I defer to their superior judgement. If S32 wants a CR to buy both Khoemacau and SFR, they can have my money too.

Ash