Notes from the AGM

Hi all,

Yesterday's AGM was extremely enlightening and I've come away inspired by the developments and pipeline of activities for Mt Thirsty. I'll be posting more notes from my informal Q/A with the directors on the BAR forum (after I check with the directors to make sure I'm not revealing too much on HC) but for now, here are some comments:

Things are happening fast. The extensive scoping and design work already done (JORC 2004, mine design etc), the oxidised nature and type of the cobalt resource that make it much cheaper to process, and the easy access to infrastructure mean that this mine will happen much more quickly than most people realise.

CNJ are unlikely to need to raise for the (initial) MT Thirsty work - most of the 1.8mil raised by BAR is for an extension of our gold exploration (which is now massively increased) and the costs of the upcoming Mt Thirsty drilling and scoping studies are small.

There has been a huge amount of interest from project partners - on financing, mine development, off-takes etc. All waiting for the project scoping update.

And best of all, discussions are ongoing and apparently very promising with Mark Creasy (the famous WA geologist/miner) and his Platx company - who own the other 1/3 of the resource - on the neighbouring tenement. I think it is impossible to overstate how big this will be for the MT T project if an agreement is reached for the mine to access both tenements: a huge publicity and resource boost for the JV.

Conico and Barra relationship is progressing well with regular meetings and an a clear shared vision.

Lastly (but the best bit): the BAR directors are just a great bunch of people. By far the most approachable, engaging and informative directors I've met with.

In light of all this both CNJ and BAR both seem to me to be highly undervalued.