Ann: High Grade Cobalt, Copper & Gold Mineralisation Discovered, page-34

Fair enough and agree with you - just because its the internet does not mean that people can't express differing opinions in a polite way. I take it that your background is more of an ore processing background rather than geology?

Anyway it was good to hear through you from Matt that there is more SAM coverage than appeared on some of the presentations and announcements, if thats the case then any SAM anomaly with decent Cu or Au geochemical anomalies is worthwhile drilling in my opinion. Its been a demonstrated succesful exploration tool for finding significant blind sulphide deposits adjacent to Osborne at Kulthor (and probably a few other places as well). SAM is an excellent way of detecting sulphide orebodies and any decent sized sulphide ore body in the Cloncurry region is worth a drill hole because even if it pyrite or pyrrhotite dominant its still a chance for decent Au or Cu as well as other base metals. Sounds like they will have a problem of too many prospective targets and not enough time/money to drill them all - a nice problem to have for an exploration company.

With the QMN Mt Freda resource - I probably worded my previous posts badly and I was trying to suggest that this resource will either sink or swim on the economics of the gold contained within and if the gold isn't high grade enough or the costs to transport, mill and extract the gold in the ore is high, then in my opinion the Co grades aren't high grade enough to help the economics of Mt Freda.

I am sure there are heaps of Co threads already but for a Co project to be a goer - it really has to have the highest Co grade possible to survive volatile price movements, major bonus if there is high grade base metal sulphides that can help the economics because you have a good reason to mine it anyway, in a decent juristiction (i.e. not the DRC) and with a pathway to mine permitting development. Its just my opinion only - but AMG just aren't there on the cobalt grade curve yet... once they find some large amounts of high grade copper sulphide ore with higher grade cobalt then we could look at it again.

Whatever the case - its a highly prospective area for copper and gold that hasn't seen a lot of modern exploration and has only seen piecemeal historic exploration in the past, with numerous outcropping and surface geochemical targets never tested. I was just trying to make the point that the copper and gold grades and potential of AMG's ground are interesting enough without a distracting cobalt story at the moment, when you look at similar succesful peer group exploration companies that I have held such as MEP and PEX you don't see them talking about cobalt very much - which means that they are comfortable in their own story and focus without resorting to talking about rather specialized and volatile priced things such as cobalt.

I'm not aware of the background of the Eumeralla merger/acquisition and any stale holders and am never surprised that market valuations can be "wrong", in the short term, but eventually/usually finds fair value in the long term. That explanation sounds about as reasonable as any other to me.