I had a good chat with management 2 weeks ago and was told “The...

I had a good chat with management 2 weeks ago and was told “The company decided to reduce the number of directors during this early stage of development, as it was determined that the board had become too large for the organisation’s current needs.”

I was told that there was nothing more to it than getting the numbers or the balance right at this early stage… Rumours of anything else like infighting, are just that, rumours…

Not 100% on this but I think Chris was originally offered the CEO role but could not relocate at the time, however his situation has changed…

I asked about the CSM project and how it will be developed under 100% ARR owned, Wyoming Rare (USA) Inc. (“WRI”) with its own dedicated capital structure and funding sources, positioning it as an attractive prospect for US based investment and partnerships.

Reading between the lines as there remains a duty of confidentiality, I took his words to mean the following… The view is that the company sees itself as having 4 projects not just the CSM… My take on what he said was they needed to make it easier to attract new domestic investment in the CSM which requires a tweak to the organisational structure… And there is interest, but they need to make the corporate structure as attractive as possible… But this is not news as that’s what was in the announcement… It wasn’t explicitly said, but my take was they want to get the CSM up ASAP to better position themselves with moving forward on their other projects and to manage LT holders expectations…

The other interesting point to discuss was Joe Evers… Highly rated internally… I was told that Wyoming has a relatively small population of 600,000 and that in smaller cities like these, who you know, and your business and political connections can be critical… Joe has a great reputation in the Cowboy State and was instrumental in getting the $7.1m grant… His business, personal and political connections will continue to be vital in moving this forwards…

Lots of potential for some great news over the next 12 months… Good luck to all holders…