What is going on?

AR3 pegging tenements next to Valrico, this is outrageous. If we thought the area was so good for uranium, why didn't we peg all the tenements ourselves? Why are we buying tenements from directors?

We are buying uranium projects from two directors. They only applied for the Valrico tenements at the end of Feb 24 (8 weeks ago) and then sold them to AR3 weeks later. We have now applied for tenements near the Valrico tenements. Why didn't we apply for them ourselves in the first place? Why are we buying tenements from AR3 directors Bryn Jones and Rick Pobjoy? I was always told that directors had to act in the company's best interests - how were Jones and Pobjoy acting in AR3's best interests - they only pegged the tenements eight weeks ago. Did the board not know that AR3 wanted to explore for uranium only eight weeks ago - if so, then how rushed has the uranium decision been?

Jones and Pobjoy applied for the tenements on 23 Feb 24 and AR3 announced buying them on 3 April 24. Assuming one week for Easter and three weeks to negotiate the sale agreement, Valrico held the tenements for two weeks. Directors Jones and Pobjoy made $800,000 in two weeks. How do I get a job on the AR3 board?

How about the "independent" directors? They are the ones who agreed to buy tenements from fellow directors Pobjoy and Jones. Interestingly, Jones and Pobjoy are paid cash with the deal, and other Valrico shareholders are paid AR3 shares. Was it structured that way so that AR3 shareholders didn't need to approve the payments to Jones and Pobjoy (any issue of AR3 shares to directors needs shareholder approval)? Why are Pobjoy and Jones the only Valrico shareholders being paid cash - on top of their salaries as AR3 directors? Why didn't the directors want AR3 shareholders to vote on the deal?

I was in Adelaide for Gather Round and heard that director Carr's partner's law firm is doing a lot of the AR3 legal work. The last Annual Report did not mention that, so I'm trying to understand what that means. Is it yet another potential conflict?

I originally invested in AR3 because of its rare earth potential and because Acorn Capital was a major investor. I like the Acorn team and have made money following them in the past. I still believe in the rare earth and uranium themes, but there could be too many conflicts of interest, and I will sell AR3.