Ann: Drilling Update, page-101

Yeah, PNN with death spiral funding. Google search what's death spiral funding if you don't know. Smart directors don't deal with death spiral funding.

Further, PNN JORC resources is 89ppm (no, it is not a typo). I got more brine in my own backyard. People still valued at $2.5m while BMG at $5m (potentially high grades).

What I was saying directors should talk only about their own drill results and let market determines its value. They are like real estate agents keep tell me how much a house next door sold for.

Large companies always overpay assets. E.g. BHP resold their oil business after USD$30 billion write down. RIO TINTO paid I think $5 billion on Riverdale only worth $50m. POSCO might have USD$200m write down on their lithium brine coming up worse than buying a brand new car. Large companies love to show off by paying crazy prices. You cannot use POSCO as advertisement for your story.

Even holders already dreaming about $12 share price when it was at 67c.