Ann: Contract of Sale Executed, Mt Carbine Quarry & Mining Leases, page-20

Reality is the following.

1. Russell fulfilled his promise by delivering on today's ann, albeit a bit late.
2. Re rate didn't happen due to lack of metrics and lack of knowing how this will be funded.
3. We have no idea of offtakes etc.

The good news

1. Just on a whisper this hit 4 cents just on rumor of it having lithium deposits, we now have them and drilling targets! A natural appreciation in SP will occur.
2. The agreement of sale is done, we just need to get the money.
3. There is global conflict, meaning high demand for Tungsten ( i don't think the Chinese will be off loading anytime soon, which means price preservation).

What does a re reate look like

1. Once we have offtakes (demand) and funding, we'll also have acquired a quarry business that produces revenue. How much , we don't know! However unlike other mines, we'll have a form of revenue coming in from day 1, which greatly mitigates risk and the need to raise excess capital! It also mitigates risk, because in the event that tungsten prices drop, you still have a quarry business making money!
2. We could be in production albeit at a small production level by end of year
3. We'll be one of the newest producers of tungsten in the western world!
4. I suspect the global conflicts in the middle east will continue. The Saudis, Russians and Americans all need the oil price back up . The Saudis have said a target of $80 . For that to happen, they need to create conflict!!! Whether it be in Syria, Lebanon, Libya, Iraq, Iran etc etc..... Which means a demand for Tungsten.
6. The US is the largest arms exporter in the world, which means their military industrial complex is reliant on conflict existing, even if it doesn't exist , they'll make a war for no reason!!

Give the above by eoy , this i suspect will be at least a Mcap of $100M. People can call me crazy, but based on the old scoping study, the price of tungsten and current world geopolitics, this is where i think we'll end up as a minimum, we just need to be patient. I except we'll see 4 cents though , once we start drilling again for lithium!