Samso on VMS, page-41

Hi McHale:

Yes in a lot of cases “Mt Lindsey” and “Riley” have been disappointing. Five years of a court battles with the scum “BBF Group” knocked us around a fair bit. They still owe us $1.1 million in costs.

As for “Riley”, well the asset is still there and we have now got a mining licence for “Livingston” to add value to “Riley”.

I.O prices are our hold up there, but I'm guessing you already know this.

As for “Lindsey” the PFS for an underground operation is all but complete. We are now waiting on Boron results to add to the PFS. The reason for the company to wait on Boron results, is due to an interested party looking at our Boron results. Coincidently “RIO Tinto” are the main producers of Boron in the US and at the same time RIO have now got an MOU with the Tasmanian Government for “Mining all Minerals”. So, maybe this is a good sign.
Luckily for us AR claimed all these WA tenements during the five years we were idle in Tasmania.

Thankfully, our focus has now shifted to Jupiter, while the Tassie tenements are at play and I believe is progressing well.

On the WA front, we really need to start ticking a few boxes and the right boxes. Our infill drilling should give us an MRE. With 500mtr spacings this is a Jorc Compliant Area. Application for a “Mining License” is now a must. These types of moves would early enhance our share price, give confidence to the market and would move our SP closer to “option exercising”.

Also, we seriously need proper financing. I do not see this coming from the likes of Peak / Evolution / ATM acquity, Cannacord and the like. These companies, whilst good for small offerings are a huge drain on our share registry. We should not be moving forward with dirty placements when CR is needed. “Strategic Industry Capital Providers”

To add, AR should no longer be trying to do this on his own. Strategic appointments need to happen. Our last appointment of a “Senior GEO” went un-noticed and her appointment was as important to announce, as our new land acquisition.

AR needs expertise, as the Coy is now beginning to grow past a one man’s band. Eg: a CEO and MD experienced in mining development needed.

Last but not least, continual flow of news is vital to maintain a healthy share price.This in turns attracts healthy investors.