Ann: Carpentaria sets strategic focus on Hawsons Iron Project, page-3

Hi R36,

I agree, sad to see Nick go.

I think the move to focus purely on Hawsons is cashflow related. In this environment, it is difficult for juniors to raise cash and if we did so at the current share price it would cause significant dilution.

Therefore, do you spend some cash drilling for gold and hope you find some and enough to raise the share price (would need to be great grades to do so in this market).

Or, do you focus on a guaranteed return and continue to de risk Hawsons to make it more attractive to a big investor or if we do need to raise cash in the future, Hawsons will be further de risked and closer to BFS production.

Anything Carpentaria can do to reduce overheads and focus on Hawsons is a good move in my mind. Its a shame if that means losing Nick and probably some other great staff, but if they don't make the tough decisions now there will be no cash left to pay any wages.