Ann: Quarterly Activities Report, page-2

Most interesting that major shareholder VAR disposed of its other non core investments but only held its TMZ.

And few weeks ago other major shareholder MEP increased its holding per on market purchases.

And if they need a bit of interim bridging cash in between the Canadian tranches they do it easily at 5.5 in minimum placements needed.

Last round drill results from Bygoo tin project due soon. That's round 4. Will we get an initial JORC number soon?

That's the priority cos this year has flown by and need the JORC on which the bigger Canadian bucks will be based, so them ex CMR elephant wildcats have to wait a bit. It is noted TMZ retains 100 pct of these whilst either divesting or freecarrying per JV the others. Suspect MEP and VAR are in this for these big gold and base metal plays and the tin came as a welcome surprise.

Anyway patience is the key cos the chart looks seriously primed with 5.6 + trigger suggesting a next target circa 11 and with significantly higher beyond.

Need to see some accompanying 500K daily volume with that. Current offers look attractive and pivotally placed.

A quiet achiever.

Opinion