Ann: Ceasing to be a substantial holder, page-68

Hi Mickey

What you say is interesting undoubtedly there’s many scenarios, one prevails in the end...

I imagine Mr Vassie can readily see what the dummies out there can’t.. that is, Peel is the most undervalued bargain for many reasons some as I’ve alluded to before;

1.Wagga Southern Nights could be worth circa 6 billion or much more if a zinc resource of 4-5 million tonnes is clarified...Southern Nights has only just been scratched and the scoped out surrounds to Fenceline offer such massive fertile and various mineable mineral opportunities.

2.Apollo Hill as Mr Bamborough suggested could readily grow to 2-6 million ounces given time with closer attention to infill, high grade loads and strip ratios.

3. Wirlong is a very high grade expandable strike depth system as is commonly understood by the geologists whom have studied the many similar style Cobar mines. Infrastructure is in place.

4. Mallee Bull T1 is growable at strike as around MB North and generally MB deep, and at T1 cash can be generated early. Infrastructure is in place.

5. Wagga Tank initial high grades discovery has attractive gold lead zinc credits copper etc to grow in time so in general;

6. I’m saying there’s too many positive options and exploration positives plus the bonus of our huge unexplored Cobar regional tenure to leave it unloved especially as copper zinc gold will all be in high demand for safe hedge income, pragmatic use in advancing technologies in EV’s, batteries, and households vital needs.. across the globe!.

As I revisited post the AGM meeting with Rob the fascinating slide of Southern Nights I cant help but conclude that the surrounding likely mineralization opportunities are exceptional, deserving of a massive drilling program in that yellow dotted highlighted circle, of the indicator maganomolisation.
We’ve not even clarified the mineralization as may also be very high grade between Wagga and Southern Nights, the 800 or so strike metres as yet to be drilled!.

I’m no geologist but in over forty years of considering reviewing and reading exploration grades, in-globo results and reports, it’s very difficult right now to find a better opportunity than Peel Mining;
for a plethora of very logically determined no nonsense reasons.

A cash plus script offer from St Barbara is my anticipated scenario unless a corporate counter bid is able to up the ante, as would be reasonable in fairness to us, the stalwart faithful investors!.

Sarg