Notes From General Meeting

Notes From General Meeting

I asked if they are looking for a particular commodity.

There preference is Gold but Lithium is very strong still and has stayed stronger than they thought it would. They are not tied down to any one though, there are a couple things they are looking at.

I asked if they are looking only in Australia or elsewhere also.

They said anywhere, but obviously there are a few places they won't go like Iraq, Syria, Russia or Mongolia. Later on the Philippines was also mentioned as somewhere they wouldn't go.

After i had asked those two questions; as it was just me there they spent a lot of time discussing various things with me. Lots that doesn't have much to do with $CAV specifically but more exploration and mining in general, which was great as i have only really been investing seriously in explorers and miners for just under a year. One of our board members is also a board member of $SYR so a good while was spent talking about that. Below is a few comments that relate to $CAV that maybe of interest.

One criteria that they have is that it has to be an advanced project/existing project, not a greenfields project where you start from scratch. Basically drill ready, something where you can wheel in the drill rig and get a big bang for your buck fairly early. Maybe they can see something a bit better than the previous people, or something that has fallen over for some corporate reason eg they ran out of money.

Preference is Gold but they have been looking at Lithium and Cobalt assets, they have been looking at on average a project a week. It's easy to discount the ones that won't make it or need two years worth of work.

When it comes to looking at projects they pay particular attention to verifying the data, particularly overseas projects. A recent one they looked at looked good but the data looked very dubious.

Then it comes down to doing a deal, they will be trying to structure it so that it is subject to DD and give themselves enough time to review the data properly. Looking to negotiate a deal where they have to spend money on drilling rather than a simple cash payment. The term used was money in the ground rather than a cash payment.

Ron has a lot of experience in Africa with past companies and they have a good network there. They are happy to go anywhere as long as they are comfortable with the sovereign risk. Have to be sure that you own it or will own it and its not going to be taken from you by the government. For personal reasons i asked if they were comfortable with Mali and they said yes but certain parts have issues.

With any project they aim to be able to do stage one without raising any capital.

On a personal note all of them seemed like genuine great guys and they were great to talk to. They asked me more questions than i asked them to be honest.