Conglomerate Gold & MunniMunni, page-7

Unfortunately our board also managed to keep PGM sub $50m MC while every one of our peers around us went gang busters as well. Quite a talent they have to be able to keep losing their shareholders money in both good and bad macro economic times. It's almost like it was intentional...

HR I honestly think the talk about Skaergaard was just lip service, in my opinion it is being left left lying dormant on purpose. Kaplan, Woodford, and Creasy own basically 30% between them which I personally believe is enough to exert the required influence on the board to keep Skaergaard on ice till they are ready.

Outside of them it's most retailers with the exception of our favourite elusive shopfitters.

In the near term if we are to see any increase in the SP it will come from a funding/strategic partnership on Owendale. Personally don't care whether that's for HPA, ScO3 or Cobalt. My suspicion is that the pivot towards HPA is a result of CN coming to the realisation that he won't get offtake or capex funding for a ScO3 only Owendale. Just my opinion.

Cheers,

DMac