Conglomerate Gold & MunniMunni, page-11

Dmac,

Been too busy lately with my own projects to post lately, my business takes 1st priority over posting .. however I have a few spare moments this week.

I am glad you posted the recent top 20 holders list .. very interesting to see the Shopfitters outfit in 3rd position with a very decent dollar stake in PGM .. they have been buying for a while now and I figure they have circa $1mill invested in PGM. These people have real skin in the game and they are late comers.

By the way finally saw your email very recently, contact soon.

The lost opportunity costs early last year, prior to Mosig leaving in December, sticks in my mind. There were opportunities to be had last year, those slipped by very quickly. The time was right, but for whatever reason those opportunities to capitalise on the Owendale assets quickly evaporated, just when it was building up a head of steam.

You know this, as do most longer term holders that invested early last year.

"You Snooze .. you lose" is the old saying.

It will take some effort to make up those 26 cent peaks .. I am of the opinion there will be another capital raise very soon and it will be at a big discount to the current VWAP... maybe that's already been factored into the current low ball SP... wrong time wrong space ... If so it will be further dilution to the long termers .. not a good look in my opinion.

It appears they failed to seize the moment a year ago .. but that's my opinion and I am not particularly happy. The only way for us is to buy a lot more stock at a lower SP than todays price and I need to find out who those Shopfitters are .. probably at the AGM meeting but most likely before that.

Unfortunately there is a big block of "old" major holders in PGM .. what are their long term motives .. their positions are relatively unmoved and we know at least one is in the precious metals game globally ... maybe there eye is on the Greenland precious metals. Pure conjecture on my part, but I need to find out a lot more about that when my exploration season ends in November.

In the meantime I am not very happy to see the current state of play with the SP.

I knew that the one of the recent Platina hierarchy had bought some shares on market and am glad you pointed out who it was .. good on him, at least it was a sign of good faith from him .. what about the others?

Munni Munni seems to be the only confirmed JV done and dusted ( In hindsight .. for a pittance).

So where are we at the moment with other plays as far as the shareholder know today:

1. Greenland assets .. some held, but future pathways are unknown, it's murky ATM. Huge Asset , but will it go the way Munni Munni did?

2. Owendale Scandium .. regardless of the beneficiated grade achieved, who has been signed up for a sale as far as we know .. no one ...until the company announces a definitive and fully binding MOU. Might be a potential company maker, but it's only in the potential category until there is a fully binding offtake agreement in place with the usual caveats in place.

3. Owendale Cobalt and Nickel .. great to see they did the extra drilling to improve the grade and resource circa February, without telling us they were doing it during the post Mosig hiatus. However, they are still seeing it as an after thought to the prime motive, that being the Scandium push. The company needs to tell us they have a buyer for the Scandium end product .. otherwise leave it in the ground if they cannot capitalise on it for the shareholders benefit. The company lost the Cobalt boom price opportunities before Mosig left.

4. Owendale Platinum and other esoterics including HPA .. show us a commercial case that is feasible without spending more time and money, digressing from the purported main Scandium focus.

5. Other acquisition opportunities .. call me.

Just my biased views .. this time not very happy.

HR

DYOR .. We have skin in this company and we want to protect it.