Tin future demand - good read, page-5

It is pretty hard to make a conclusion on management but I see a lot of positives & many questions/thoughts in general:

# Why would Nero, Paradice, Regal, etc invest $14M in this company ? Even though you are a long term investor who appears to believe in the project, I hope their influence can guide the project into some form of success ?

# My impression is that there is still a lot happening behind the scenes (which we are not privy to).
- My recent correspondence with management suggested they were waiting to lock in two drill rigs. Is there a change in plan or have they put this aspect on temporary hold until bigger decisions are made? Maybe this is why they haven't been able to action a firm longer term plan. Maybe it is hard to lock in a drill rig or two?
- Avebury is still the value add in my mindset. Production direction is attainable with this option along with a possible add of nickel production into the future ?? Korda Mentha did originally state they would sell this project by last Xmas but is it lack of buyers, something happening in the back room ??? Hope it's a "fire sale" to us.

# I see the Mount Lindsay tin project is for sale as VMS go down a different path of rare earths. Is this a possibility ?? Existing resource & some great drill results (Intersections from ML340M were: 147 metres at 1.0% tin and 0.2% tungsten or 1.2% tin equivalent from 90 metres including 114 metres at 1.2% tin and 0.2% tungsten or 1.5% tin equivalent from 93 metres, or 99 metres at 1.4% tin and 0.2% tungsten or 1.6% tin equivalent from 93 metres, or 45 metres at 2.5% tin and 0.3% tungsten or 2.9% tin equivalent from 147 metres, or 9 metres at 5.9% tin and 0.3% tungsten or 6.2% tin equivalent from 183 metres). Boron was the other possibility in the resource which is still being worked on from the metallurgy / extraction viewpoint. Is it going to a "fire sale" ?? like there iron ore project. The possible Tarkine issue still concerns me as I have not enough depth of knowledge on this issue. Project is about 70km by road to Avebury (not as close as Heemskirk - 8km's).

# Elphinstone (Top20) exiting or reducing his holding in VMS who are exiting all Tasmanian projects - Is he entering SRZ ??? Once reported to be a billionaire in the Apple Isle, is he going to champion Tasmanian industry again(as he has in past at various levels). Made his fortune in mining equipment & has a saying "we did it because we know we couldn't". He is currently heavily invested in G6M who are definitely under severe pressure financially. Looking for further investment possibilities ?? Has also previously partnered with the Government on the changing of financial outcomes in a distressed business. Tasmanian industry must be concerned with their economy - need some positive news, Even Boags is not going to export to the mainland anymore - I love this beer & will miss the Tasmanian "soft water" LOL.

# Also still amazed at MLX (our next door neighbour). Stacks of cash, lack of direction??, management appear to be comfortable in collecting their wages & exploration at Ringrose appears to be next stage of increasing their longevity. Many years ago, I thought they had the vision to create a large corridor of tin projects (including the obtaining of SRZ at bargain levels - maybe VMS). Maybe they are to heavily controlled by shareholder entities, complacent in their views, Nifty copper failure??? Also hold MLX to see what develops besides the cash build.

I personally believe that there is a general lack of strong managers in industry & maybe it is less than 5% that are very successful??? But creating teams can overcome peoples lack of skillsets & placing the right people into the right position can turn the companies prospects towards a different positive direction. The addition of Boyd to our technical capabilities & the adding of larger investors to our register could change our course. As you have stated - right metal, right price. right time. For me, I am finding it hard to stay patient as I am genuinely excited about our future (including Scamander). Just my various thoughts & questions while we are patiently waiting.