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Tasmea Limited  has accelerated its initial public offering (IPO), raising A$59 million with the transaction underwritten just last week.  Primarily operating in Western Australia and serving iron ore miners, the company’s shares were priced at A$1.56 each, targeting a market capitalisation of A$339.7 million and an enterprise valuation of A$363.8 million.   Finalised last Thursday, the IPO was quickly filled by institutional investors, bypassing the planned retail bookbuild - which was supposed to take place between March 27th to April 10th.  With the IPO in bay, the company is slated to list on the ASX on April 29, 2024.  Looking ahead, the proceeds from the IPO will be allocated to repaying selling shareholders, reducing debt, acquisitions, and working capital.  IPO Summary   Tasmea, with its major divisions in electrical, mechanical, water, and civil works, sold 17% of its stake in the IPO, committing to a 17-month escrow period.   Financial institutions Morgans, Shaw and Partners, and Unified Capital Partners led the deal, with Morgans and Unified providing underwriting.  The IPO proceeds are earmarked for various strategic uses, including shareholder payouts, debt reduction, acquisitions, and bolstering working capital, demonstrating Tasmea's prudent financial planning and growth-oriented strategy.  About A$26 million of IPO bookbuild will go towards paying out selling shareholders, with A$12 million marked for reducing leverage.  The leftover will fund acquisitions (A$10 million) and working capital (A$5 million).   The business would have A$24.1 million pro forma net debt at completion.  Finances   Financial projections are optimistic, with Tasmea aiming for a revenue of A$434 million and earnings before interest and taxes (EBIT) of A$54 million for the fiscal year ending June 30.  The company, founded by Stephen Young and employing 1,400 people, is projected to achieve A$434 million in revenue and A$54 million in earnings before interest and taxes (EBIT) for the current fiscal year.  Future forecasts are even more promising, with an anticipated EBIT of A$110 million by the 2027 financial year.     Background   Tasmea Limited is an investment company which operates sixteen wholly owned subsidiaries across the mining, resources, defence, water, energy and financial services space.  Previously known as E&A, the company has expanded its portfolio by acquiring several mining services and contracting subsidiaries throughout Australia.   The company initiated its expansion in 2001 by investing in the South Australian firm Louminco, which later merged with Whyalla Fabrications.   In 2009, Tasmea acquired ICE Engineering & Construction, further enlarging its operations.  The company extended its reach to Western Australia in 2016 with the acquisition of Tasman Power, leading to the establishment of Tasman Rope Access.   Additional acquisitions in Western Australia include Northwest Mining & Civil in the Pilbara region, Laptek Systems in Maddington, and A Noble & Son in Welshpool, specialising in lifting and rigging services.  Mostly recently, Tasmea has strengthened operations in NSW with the acquisition of Forefront services – a company specialising in underground and surface fixed plant maintenance.  Also, the company recently acquired Corfield’s Electrical Service, a privately-owned Central Queensland-based company that provides electrical and communication installation and maintenance services to the industrial and commercial business sectors.  Samso's Thoughts Mining servicing is a business that will print money. There is no need to think about it much as the whole country is awashed with customers. There are competitors but looking at the balance sheet that is in the prospectus, one can feel comfort. I have been in the mineral exploration and mining sector since 1992 and I can tell you that the mining servicing business and those services that help the mineral exploration sectors are always making money. DYOR on this counter and you will find the same conclusion. There is a reason that the institutions are all over this IPO. They back good stories and good income-generating business. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

The final debutante for 2023, Enlitic Inc (ASX: ENL)  hit the boards on December 19th after a successful $A21 million capital raise to accelerate the company’s commercialisation in the AI-powered medical diagnostics space.  The Colorado-based outfit listed on the ASX via chess depository interests (CDI) currently trading at A$0.65, down 27% from the IPO offer price.  Using artificial intelligence, the company is developing products that manage medical imaging data in radiology and licences such products to healthcare providers and original equipment manufacturers.  Looking ahead, Enlitic has multiple software releases scheduled for FY2024, set to boost delivery to contracted customers and advance the capabilities of the product and the company’s strategy.  Figure 1: ENL share price chart  Company Overview   Enlitic is a software development company that uses AI to develop software products that manage medical imaging data in radiology (such as MRI, CT scans, X-ray and ultrasound images) and licenses such products to healthcare providers.   Its technology features a host of AI-powered modules that enable data standardisation, de-identification, anonymisation and workflow simplification.   The company’s mission is to "revolutionise" healthcare by leveraging AI and data, empowering evidence-based decision-making, enhancing research, and transforming healthcare delivery.  The Enlitic solution is built upon a software framework, creating a network between applications.   It houses an ecosystem that enables and supports the exchange of information or content between different interdependent applications.  The framework facilitates communications between modalities, Enlitic applications, Electronic Medical Records and PACS.  What are Enlitic’s applications?   Enlitic currently offers the following key products (Figure 2):  ENDEX™:   a medical imaging solution that standardises and structures data from medical images - this is Enlitic’s core product; and  ENCOG™:  de-identifies medical imaging data.  Enlitic also has in development the following two products in its pipeline:  ENCODE™:   will seek to improve data quality that impacts coding and reimbursement; and  ENSIGHT™:  will seek to leverage interoperability with data analysis  Figure 2: Real-world medical image database (Source: company website)   What’s been happening lately?   In 2023 alone, Enlitic has secured 10 successful contractual agreements.  Following suit, Enlitic has expanded its subscription license agreement recently with leading diagnostic services provider Unilabs Laboratoire d’Analyses Médicales to provide its ENDEX software to Unilabs’ radiology business.  Unilabs is one of Europe’s largest diagnostics companies with a network of over 180 imaging centres, conducting more than 5 million imaging exams annually.   Unilabs will implement Enlitic’s ENDEX software across its radiology business to normalise its medical image data to a consistent clinical nomenclature and to connect relevant clinical content across its different clinic systems.  The new agreement incorporates the remainder of Enlitic’s 2021 contract with Unilabs’ TMC business which resulted in a 10% increase in radiologist productivity, with faster reporting and the ability to handle higher exam volumes.  FY24 outlook   In the first two months of 2024,  Enlitic continued to progress the conversion of its customer opportunity pipeline with several US  customer agreements moving through the proof-of-concept phase towards license agreements.   Throughout 2024, Enlitic aims to continue to grow its customer base and pipeline by leveraging its direct and OEM sales force to reach customers across key global markets.   Enlitic also began collaborating with its distribution partners,  developing joint go-to-market plans and developing sales training activities.    Furthermore, the company is also developing data monetisation strategies in collaboration with its customers and healthcare providers with a view to brokering the sale of data on behalf of its customers.  Samso's Thoughts It's amazing how the world of AI is now penetrating everyday life with levels of normality. Industries far and wide are now adopters of AI and in many cases, the technology is applied without any fanfare. Commercialisation of technology is now a common aspect of the industry. The use in the medical industry gets more attention as human beings need reassurance of its validity but in the movie industry, it is widely accepted. Mining and mineral exploration where I am mostly involved, the technology is now mainstream. The understanding and acceptance of AI in the medical industry will be where it would thrive the most and this is where companies like Enlitic are going to make headlines. As we can see, the commercialisation with contracts is the key for Enlitic. I am looking at this industry more now and like many investors in the ASX, I am doing some serious DYOR. Keep your portfolio options open and reach out to the management of the company and get your own thoughts processed in line. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

After a dismal IPO in late October, during which shares dropped nearly 50%, Chariot Corporation Ltd (ASX: CC9)  immediately hit the ground at its flagship Black Mountain Project in Wyoming, looking to turn the tides in its favour.  At the outset, the company faced challenging early winter conditions that led to issues such as freezing of the water source, water and diesel lines, water truck breakdowns, and blocked access roads—not to mention the gloomy lithium prices.  However, as results started to come in from the company’s maiden drill program, Black Mountain, things started to take a turn for the better for the North American Lithium explorer who intersected ‘significant’ lithium and base metal hits – which the company described as “stunning”.  Interestingly, this is the first hard rock lithium discovery through drilling in Wyoming.  The company has expanded its land position in Wyoming to 206% and increased its Wyoming lithium portfolio to 93.9% - cementing its confidence in the project.  Chariot shares are trading as high as $A0.31 today, up 24% from the opening price ( Figure 1). Figure 1: Chariot share price chart (Source: Google Finance). “Stunning” Results   Black Mountain’s maiden drill program has delivered strong initial hard rock lithium results with multiple mineralised lithium intersections from the first three holes.  During the program, all holes intersected high-grade spodumene mineralisation, confirming the potential of the Black Mountain LCT pegmatite swarms (Figure 2).   Figure 2: Plan View of the Black Mountain Project, showing the pegmatite outcrops (dark red) and interpreted folded geometry (in light red) along with the Northwest and Southeast Cross-Section Lines and Drill Collars (Source: ASX release).   Notable results include:    BMDDH23_01 15.48m @ 1.12% Li2O and 79ppm Ta2O5 from 2.74m, including 4.27m @ 2.46% Li2O and 128 ppm Ta2O5 from 9.94m;  BMDDH23_02 14.33m @ 0.84% Li2O and 61ppm Ta2O5 from 1.83m, including 2.29m @ 3.09% Li2O and 138ppm Ta2O5 from 10.67m; and  BMDDH23_03 18.81m @ 0.85% Li2O and 98ppm Ta2O5 from 45.26m, including 5.79m @ 1.08% Li2O and 105ppm Ta2O5 from 47.55m.  These drill results confirm the potential of the Black Mountain lithium caesium tantalum (LCT) pegmatite swarms, with the assays returning individual lithium and tantalum values of up to 3.79% lithium and 230ppm tantalum.  Furthermore, the company is optimistic it may have intersected the peripheral portion of a potentially larger base metal mineral system, with selected intervals grading up to 0.6% copper, 1.0% zinc and 15.4% lead.    Wyoming Expansion   As part of its Wyoming expansion, Chariot has now increased its landholding in Wyoming to 218 contiguous claims, resulting in a 206% increase in project tenure area (Figure 3).  The Black Mountain project now comprises 352 claims covering 2,686 hectares of tenure.  Meanwhile, Chariot increased its ownership of Wyoming Lithium Pty Ltd from 91.9% to 93.9% via a share subscription to reimburse Chariot for exploration expenses incurred at the Wyoming Lithium Projects.  Figure 3: Black Mountain Project – expanded footprint ( Source: ASX release). Looking Ahead   As of February, drilling continues with eight holes completed to date, and assay results for the subsequent five holes are pending and expected to be announced by next month.  This information will be used to design a more extensive 5,000- to 10,000-metre phase 2 resource definition drill program, which is expected to kick off in the September quarter.  In anticipation of the Phase 2 resource drill Program, the initial focus will consist of detailed re-logging of the Phase 1 Program drill core along with a detailed petrographic study of the mineralisation and selection and submittal of samples for initial metallurgical testing.  At the same time, the existing rock chip and soil sampling program will be extended to the north and east to close off the open lithium and base metal anomalies.  In addition, the company plans to run a preliminary IP/Resistivity survey over the area of anomalous Zn-Pb soil geochemistry to assist in siting several holes to test the nature of this base metal mineralisation in September and December quarter of 2024.  Company Background   Chariot has twelve lithium projects, including two core projects and a number of exploration pipeline projects, which Chariot's majority own and operate.    The core projects include the flagship Black Mountain Project in Wyoming, USA and the Resurgent Project (prospective for claystone lithium) in Nevada and Oregon, USA ( Figure 4).  Figure 4: Chariots Wyoming portfolio. Wyoming is a tier 1 mining jurisdiction with a long history of gold, uranium, coal and industrial minerals mining and production, accounting for approximately 20% of the state’s GDP in 2023.  Wyoming is currently the 8th largest oil and gas producer in the U.S.A. with a well-established oil field services industry.   Chariot has already engaged a number of oil field service providers to provide various services for the phase 1 drilling program at Black Mountain and anticipates further leveraging of the available local oil field service providers for future exploration and mine development activities.  Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

After having a tough year in its home base, Kiwi-based courier and express delivery company Freightways Group Ltd (ASX: FRW) i s exploring a larger investor market in Australia, with its dual listing on the ASX last September.  The company recognises Australia's increasing significance in its activities, with Australian operations contributing to 30% of its total revenue in FY23.  With the listing, Freightways will collaborate with Australian fund managers who primarily focus on ASX-listed companies, thereby expanding its investor base in alignment with its business reach.  Freightways anticipates that growth in Australia will surpass that of New Zealand in the future. The company is currently trading on the ASX at A$7.75 with a market cap of A$1.39 billion (Figure 1).  Figure 1: Share price chart (Source: Google Finance)   In Australia since 2007   Freightways' foray into the Australian market began in 2007 with the purchase of Databank, an information management enterprise.   Since then, the company has expanded its services to include information management, secure destruction, and waste management.   The acquisition of the Allied Express business in October 2022 significantly enhanced Freightways' presence across Australia, diversifying its income sources and reducing its economic reliance on New Zealand.  To further bolster its operations, Freightways is set to enhance Allied Express in Australia by implementing automation in facilities located in New South Wales (NSW) and Victoria.    This initiative aims to support a potential revenue surge and ensure the company can seize a larger market share without being hampered by infrastructure limitations.   This strategic move is pivotal, considering the Australian express delivery market's size is roughly eight times greater than New Zealand's.  Looking ahead   In the face of a challenging economic climate, the company remains optimistic about the resilience of its business model, underscored by its diversification across various segments and geographies.   While volumes have stabilised in Australia and New Zealand, they remain sensitive to the economic conditions in these countries.   The labour markets, especially in New Zealand, have shown signs of relaxation, with the company anticipating normalisation of labour rate increases by the fiscal year 2025 (FY25).  On the operational front, Freightways medical waste management outfit, MedX in Victoria is set to kick off operations in the December quarter.   The company aims to enhance utilisation at the Ruakura facility throughout FY24, achieving breakeven by the March quarter of FY25 and projecting positive returns thereafter.   After a period of stabilisation, paper pricing has seen a slight recovery from the first quarter (Q1) lows.  The anticipated full-year capital expenditure is A$35 million, which includes the installation of the second automated sortation system at Allied Express in Victoria.   For FY25 and FY26, the focus will shift to margin restoration in both divisions, supported by easing labour rates and modest organic growth.  Looking ahead, the group intends to explore acquisition opportunities that align with its existing operations and capabilities, aiming to deliver value to its shareholders.  Background   Freightways business verticals are across four main areas: Express Package and Business Mail (EP & BM), Temperature Controlled, Information Management, and Waste Renewal.   The EP & BM sector is known for its expedited and same-day deliveries, oversized parcels and airfreight capabilities.   The Temperature Controlled segment provides critical refrigerated transport services, with ProducePronto leading the charge in national expansion, thereby enhancing connectivity with major fresh produce markets.  In Information Management, Freightways’s Stocka is a service aiding Australian eCommerce entities to penetrate the New Zealand market.   Stocka facilitates storage and comprehensive logistics management for small-medium businesses (SMBs) in New Zealand, streamlining their operations across the Tasman.   Additionally, the Waste Renewal division underscores Freightways’ commitment to environmental stewardship through its specialised medical waste management services.  These strategic initiatives across its diversified segments position Freightways to leverage growth opportunities, reinforcing its market presence and operational excellence in the logistics sector.  Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Just five months into its ASX foray, Great Divide Mining Ltd (ASX: GDM)  has identified the potential for lithium and rare earth elements (REE) at the company’s Cape Project within the New Goldfield tenement in Queensland.  To fund its gold and critical metals projects, the company floated on the ASX after a $5 million IPO at an offer price of $A0.21, which was oversubscribed.  Situated within Queensland, Each of GDM’s projects are believed to have “company maker” potential:   Yellow Jack – prospective for gold;  Coonambula – prospective for gold-antimony;  Devils Mountain – prospective for gold; and  Cape – prospective for copper-gold-rare earth  The projects sit across eleven tenements in historical mining areas with past exploration and nearby infrastructure.  At present, GDM shares have been trading at A$0.28, up 33.3% from the offer price (Figure 1).  Figure 1: Share price chart ( Source Listcorp)   Lithium and REE potential   GDM has revealed during its preliminary exploration results, and desktop studies have identified lithium and REE potential at the Cape Project.  Commenting on the find, the company’s CEO Justin Haines said: “Although we are in the infancy of our exploration at New Goldfield, early indications of prospectivity for Lithium and REE are encouraging and present a ‘bonus’ to GDM beyond the priority gold and base metal prospects on this tenement."   Moving forward, the company aims to conduct on-site exploration at New Goldfield across its existing gold and base metals targets, as well as this new lithium and REE opportunities (Figure 2).  Figure 2: Cape Project Location and Major Mines (Source: ASX website)   “Excellent” gold assays from Yellow Jack   In January, the company delivered assays described as “excellent” from its diamond drilling program at Yellow Jack (Figure 3).  Assays from three diamond drill holes have highlighted ‘significant’ gold hits, including:  12 metres @ 2.70 g/t gold from 25 metres depth in the hole, including 6 metres @ 4.15g/t gold from 30 metres depth, and   6.2 m @ 1.1 g/t Au from 80 m depth in hole 23YJDD217    Figure 3: Yellow Jack Project location and major mines   Commenting on these new assay results, Haines said: “We have seen some excellent intercepts from our diamond drilling campaign at Yellow Jack.  “In particular, the intercept of 6m @ 4.15 g/t Au in hole 23YJDD219from 30 m depth indicates that the Gold mineralisation is of higher concentration in certain areas and extends further along strike and at depth than initially anticipated.  “We are undertaking a full 3D interpretation of the Yellow Jack Gold system, which will be completed over the coming weeks, and are now well placed to consider an update of our previously announced JORC Mineral Resource Estimate of over 51,000 oz contained Gold at Yellow Jack.”  Looking ahead   GDM is also continuing with the exploration and assessment of its other projects (Figure 4)   The Yellow Jack geology and mining studies are continuing to assess the project's commercial potential, with results expected in the coming months.  What’s more, planning for exploration works at Coonambula and Devils Mountain is nearing completion in readiness for the commencement of the field season.  Figure 4: Forward plan for GDM’s projects (Source GDM website)   Samso's Thoughts The GDM story is very typical of the region they are exploring. If you look at Figure 1 and Figure 2, there is evidence of good mineralisation, and there is no doubt that their concepts are valid. This is a gold and copper country, and antimony and molybdenum are commonly associated with mineralisation as well. I am not a big fan of the lithium and REE story, and I hope the company focuses on gold and copper. The results to date are encouraging, but they are still a distance from discovery. This is not a negative point; it just means there is work to do. The one issue with the GDM story and that of all aspiring juniors in this place will be the duration required for an economic discovery. The systems are typically tight, meaning they are small and usually complex to define. This means that the hurdles may create less luck than more luck for discovery. Pacgold Limited (ASX: PGO) is located near the Cape Project with its Alice River Gold project, and it is a good prospectivity comparison. I have just seen its presentation, and it seems that it is on the verge of a decent discovery. I would encourage readers to go and have a look at its presentation and check out the potential. As always, DYOR, keep an eye out for their announcements. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

As we move into the generation of clean energy, the topic of uranium mining is brewing in Australia, especially in Western Australia. The only state and territory in Australia where uranium can be mined is South Australia and the Northern Territory. The Western Australian government took a stance a few years ago to ban the mining of uranium and this has taken its toll on the industry. However, it does seem that the sentiment to overturn that decision is now softening. The mining industry in Western Australia, by far the biggest player in Australia, is facing one of its biggest changes in 2024 and the change may only be starting. The nickel industry is hemorrhaging with the rise of the Indonesian nickel industry. The dominating nature of the nickel industry in Indonesia has taken the world by storm and the result for Western Australia and the rest of the world is that their own mines are now facing closure and a bleak future for those that are still in operation. The biggest player in the industry in Australia is BHP's Nickel West, which is certainly looking at closure and the loss of jobs and income for Australians. 2024 is absolutely turning out to be the year of changing fortunes for Australia in terms of being the commodity mecca of the world. There are real challenges that are not only restricted to nickel (almost a done deal), but there are also negative sentiments towards lithium, rare earths and finally iron ore. The misfortunes in turn could create the necessary heat to make the Western Australian and in large part the Federal government bodies look seriously at uranium as an alternative mining breadwinner. The World According to Jonathan Fisher Jonathan Fisher is the CEO of Cauldron Energy Limited (ASX: CXU)  and this Samso Insight discussion is a good introduction to the challenges and the deep misunderstanding of the general population to uranium mining. Jonathan comes from a long history within the nuclear world and in this Samso Insight conversation, he is simply stating facts to explain the debate for the mining process and not about the building of nuclear power plants. Jonathan just wants the myths to be taken out of the discussion and I agree with him that the conversations out in the world have been wrong and largely made erroneously to be facts. Samso's Thoughts There is no doubt in my mind now that the mystery of Uranium Mining  and the Nuclear Energy  debate is shrouded by a lack of understanding and the perception created by the anti-mining fraternity (based on personal agendas). The narratives that Jonathan Fisher and all the other proponents for Uranium Mining are made simply to make right the wrongs of the loudest critic. One can argue based on personal preferences but the greater good for uranium mining and hence the use of nuclear energy cannot be made by the few, but it must be made for the greater good of the whole decarbonisation outcome for planet Earth. Listen to the Samso Insight Here Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Coffee with Samso 194 is all about the Jupiter Rare Earth project and what a way for Andrew Radonjic to start 2024. Venture Minerals Limited (ASX: VMS) has an extremely well-rounded portfolio of projects and the inception of the Rare Earth project a couple of years ago has worked really well for the company. The Rare Earth sector may have come and gone for the ASX, but it has been a breath of fresh air to see the technical success of the Jupiter REE project. Anyone who has been following the ASX REE sector recently will know very well the bearish tone, but those who have been on the Venture Minerals wagon will think differently. You could put Venture Minerals on the top of the list for generating the most interest in the small-cap mineral explorers list. The interest in Venture started with the ASX release on 29th November 2023 ( Jupiter Delivers over 7,000 ppm TREO assays from Maiden RC Drill Program ) and the much anticipated second round of results was released on 8th March 2024 ( Jupiter Drilling Continues to Deliver Broad High-Grade REE Mineralisation including a Record NdPr Intersection of over 5,000 ppm ) which generated another rush on the share price. In this episode, Andrew Radonjic gives us an update on the Jupiter Rare Earth project and we discuss why he feels the project stands out from the crowd. Check out the conversation with Andrew Radonjic below: Samso's Conclusion The Samso platform has had the majority of the clay rare earth story on the ASX for the last couple of years. It has been a great journey from the beginning to now, where I could effectively call a mature understanding of the industry. If we are all on the same page, the understanding now is all about the metallurgical results, and the chemistry of extraction. In some way, we all know that the range of results from all the other clay REE players have been pretty consistent. There have not been too many outliers on the good or the bad end of the spectrum. If we consider this thought, the metallurgical results for Jupiter will be within range and there are some similarities to Mt. Weld, then Venture may have found themselves a project that could be more than interesting. As Andrew pointed out in the end, it is all about the location. The drilling results are on the top end of the scale, the location is in proximity to Mt. Weld and the plant by Iluka, the metallurgical results which are still outstanding will most likely come within range or better, and there are no logistical nor administrative obstacles in sight. With all that in mind, the Jupiter project must surely become a jewel in the DYOR category for ASX investors wanting an REE play in their portfolio. I encourage you to watch and take notes because as I have always mentioned on the Samso platform, the one economical project in many non-economical projects that are in the market comes once in a while, and if you can take the risk, do big-time DYOR now. Chapters: 00:00 Start 00:20 Introduction 00:53 Updates on Jupiter 02:46 Discussion about the next drilling phase 04:04 What makes Jupiter stand out? 09:25 VMS in the current market 15:44 About the metallurgy 21:06 What could lift the REE market? 23:53 For investors looking to position themselves in VMS 29:01 Other VMS projects 32:45 News flow 35:59 Conclusion PODCAST About Andrew Radonjic Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling over 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals. About Venture Minerals Limited Venture Minerals Ltd (ASX: VMS) is dedicated to discovering and developing world-class mineral deposits to meet the global demand for critical minerals vital to the green energy transition. Venture Minerals Ltd (ASX: VMS) has made a recent discovery at the Brothers REE Project including the Jupiter Clay Hosted Rare Earths Prospect. The Brothers Project includes the Iron Duke JV which hosts the Jupiter Prospect and is a potentially significant REE clay hosted discovery near Yalgoo in Western Australia. Brothers is well located to significant infrastructure including the port of Geraldton, Iluka’s Eneabba Rare Earths Refinery and Lynas Rare Earths currently operating Mount Weld Concentrator. The Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world’s largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system. The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, SensOre (ASX: S3N) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre-long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook . Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. 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Metals Acquisition Ltd (ASX: MAC, NYSE: MTAL) made a significant impact with its ASX debut on 20 February 2024, raising A$325 million in a heavily oversubscribed IPO, and achieving a market capitalisation of A$1.18 billion. Despite a tough market for mining stocks, MAC shares have remained strong, trading at A$18.50, up from its A$17.00 listing price. The company’s core asset is the CSA Copper Mine in New South Wales, the highest-grade copper mine in Australia, which it acquired from Glencore. Led by CEO Mick McMullen, who has a track record of delivering value through major acquisitions, MAC is well-positioned to capitalise on the global electrification and decarbonisation trends. Investors interested in large-scale mining assets and the electrification metals market will want to read the full story. Subscribe now to Samso Insights on Patreon. Three types of membership on Samso Insights Choose one or more: FREE: These insights are free and available to all investors. Subscribe here for free. PAID MEMBERSHIP: If you are a bold investor and want more, you get access to the latest and most reliable information from experienced sources that are completely unbiased starting from US$10/month. Start accessing our exclusive content to help with your investment research. PAID ARTICLES: Trustworthy source of well-researched and independent information for investors. Choose what interests you and unlock your choice of article from US$10. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Hikmat Salam - Masters in Geology (National University of Malaysia and National Centre of Excellence in Geology, University of Peshawar, Pakistan) A wide range of mineral deposit types are hosted in the New England region of New South Wales (NSW), Australia.  As of the present-day Himalayan-Tibet and Andes mountains, the New England Orogen (NEO) is one such amalgamated tectonic block where the subduction of the ocean, emplacement of ophiolite, accretionary complex, development of serpentinite belt, and intrusion of plutons with a wide range of metallic precipitations have worked and loaded the New England orogen with a broad range of natural commodities (Figure 1).  The plutonic intrusions, ophiolite, serpentinised peridotites, chromitites, and eclogites suggest collisional settings and high-pressure metamorphic conditions in the New England and New South Wales region (Fig. 1).  Such types of settings lead explorationists to study metallogenic provinces.  Therefore, the NEO region was historically under investigation and exploration for mineral commodities including copper, silver, gold, tin, molybdenum, tungsten, bismuth, lead, and zinc.  Industrial minerals including limestone, and gemstones including sapphire, ruby, diamond, quartz, emerald, and topaz were yet another natural commodity in the New England region. Fig. 1. Figure showing the geologic units and divisions in the New England Orogenic system. The geology and tectonic setting of NE orogenic system favour the mineralisation of important mineral suits. (Source: [1]) The major natural deposit systems such as magmatic, hydrothermal, hybrid magmatic-hydrothermal and metamorphic-hydrothermal systems dominate in the southern New England Orogen (sNEO). The Great Serpentinite Belt (GSB) of the sNEO along the Peel Fault and the ophiolite patches host the ancient mineral deposit systems where the dominant rock units include magmatic chromitite and sparse amounts of platinum group metals. The GSB extends to Port Macquarie, where lateritic weathering has produced elevated nickel, cobalt and scandium values, proving assets for further exploration.  The accretionary complex and basement sediments of Carboniferous host massive sulphide base metal deposits and manganese horizons.  Since the New England is an orogenic system (Palaeozoic) and multiple episodes of deformation have deformed the rocks, exploration for base metal deposits in the accretionary complex and basement sediments is therefore complicated.  In addition to base metal deposits, these host rocks also contain several intermediate orogenic (metamorphic) gold and antimony deposits. The gold-antimony-tungsten system at Hillgrove is a thick stockwork-type deposit with over 200 individual veins and has been exploited for over 110 years (Fig. 2).  The favourable geologic setting of these deposits is characterised by the concentration around major structures and intrusive (contact metamorphosed rocks). Late-stage lamprophyric and felsic dykes in the same structures occur as the hydrothermal gold - antimony rich veins. Fig. 2. Figure showing the location of the Hillgrove project in the New England Fold belt. (Source: [2]) The magmatic, hydrothermal, and magmatic-hydrothermal systems host a wide range of metallic minerals including tin (i.e. veins and disseminations in and around the Mole Granite), Mo-W-Bi pipes (e.g. Kingsgate, Deepwater) and Intrusive-Related Gold Systems (Timbarra and possibly Glen Elgin).  Most of the mineralising granites are highly fractionated I-type granites and most are Late Permian to Early Triassic in age. Molybdenum The Australian government listed Molybdenum and Bismuth in the list of 30 critical minerals, which are essential for energy and security purposes. Molybdenum has a broad range of applications including heavy use globally in the development of digital technologies, electronic appliances and electrical vehicles, and computer gadgets, and is aimed to boost the green energy transition.  The prices are going higher as per the hike in demand. Molybdenum-based materials have attracted widespread attention as they are a novel type of green energy storage devices in the superconductors. The historic Kingsgate Molybdenum project is still an asset for investors to put their financial and scientific efforts into revolutionising this globally demanded natural commodity.  The historical work on the Kingsgate project in the late 1880s and early 1900s was revived by Auzex Resources Limited between 2005 and 2010.  This has led to the recent interest by Taiton Resources Limited (ASX: T88)  to look at the project again as market conditions have changed significantly with the decarbonisation and electrification evolution (Fig. 3). "The Kingsgate high-grade molybdenum project  has a lot of historical work completed by Auzex Resources Limited and this will allow Taiton to work more efficiently to take the project to the ultimate goal of creating a producing asset." - Executive Director, Noel Ong. Fig 3. Figures (a and b) show the location of the Kingsgate Molybdenum project in the NEFB executed on the two leased blocks (ELA/6702, ELA6699/EL/9636). (Source: [3] and [4]) The Geologic and tectonic setting of the NSW and NEO promise resource potential for high-grade molybdenum in the thick hydrothermal and magmatic-hydrothermal settings.  A broad range of plutonic rocks, extrusive and dykes including lamprophyres, granites, granitoids, dacites and andesites are pockets for such metallic mineralization (Fig. 4), especially for the Intrusive Related Gold Deposits. Fig. 4. Figure showing the geologic units and positions of key metals under exploration at the Kingsgate high-grade molybdenum project. (Source: [3] and [4]) Intrusive Related Gold Systems (IRGS)  Intrusive Related Gold Systems (IRGS) are newly defined gold deposits associated with moderately reduced, I-type, intermediate to felsic intrusions. The deposit style is zoned and centred on a central mineralising intrusion. The hydrothermal fluids mineralising such types of gold deposits are usually carbonic to rarely saline. These systems are commonly associated with convergent plate margins and the New England Fold Belt (NEFB) is a typical convergent tectonic setting favouring the development of IRGSs (the Tooloom project) (Fig. 5). The IRGSs are characterised by variably a combination of Au with Bi, Mo, Te, W, As, Sn with low sulphide content i.e. <5%, and lack of iron ores (magnetite and haematite). The mineralisation styles are commonly in the form of sheeted veins and stockworks, breccia pipes, disseminated deposits, skarns, and distal base metal-bearing fissure veins.  The gold and molybdenum contents vary along the vertical zonings, with gold anomalies concentrated at shallower depths and molybdenum anomalies at deeper depths. The shallower systems are characterised by breccias and carbonate alteration zones are associated with depths. Laterally, Bi and stibnite are concentrated close and at distal parts of the deposits, respectively. However, these criteria for IRGS and its characteristics are significantly in contrast to the Cu-Au porphyry deposits, though some overlap in the orogenic settings. Fig 5. Figures (a and b) showing the defined gold deposits in the NEFB of Eastern Australia with proven IRGS deposits (the Tooloom project) and the IRGS zoned deposit style with lateral variable anomalies of metals (i.e., Au, Bi, Sb, etc), disseminations, breccias, contact metamorphosed zone, and veins network. (Source: [5]) The IRGS model is defined in a few orogenic belts around the world including the Paleo-Tethys closure (deposits in China, and Kazakhstan) and in the NSW (in the NEFB). Some examples of the intrusion bodies in the NEFB are the Nundle Supersuite, the Uralla Supersuite, Moonbi Supersuite, the Gundle Belt, the Clarence River Supersuite, the Coastal Belt and various unnamed leucogranite intrusions. Veins, stockworks, greisens, pipes, skarns and disseminations are some common deposit styles associated with these intrusions.  The Kingsgate Mo-Bi deposit (pipes, veins, and dissemination), the Glen Eden Mo-W-Sn deposit (breccia pipes and stockworks) and the Taronga Sn deposit (sheeted veins) are examples of intrusion-related deposits in the NEFB. The widespread occurrence of IRGS-affiliated mineral deposits and the presence of gold systems with the IRGS association, combined with the favourable granite geochemistry, highlights the IRGS prospectivity of the NEFB. Gold stocks as an important part of any investment portfolio, can offer investors exposure to the market without holding any physical gold. Most investors are not familiar with intrusion-related gold systems.  These gold deposits are lower grade, but their large tonnage makes them some of the most productive assets in the world. That means they can be highly attractive prospects for gold-focused companies. However investing in gold-focused companies requires due diligence, as well as an understanding of the factors that can bring these entities success. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------- Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience Reference: 1. Hugo K.H. Olierook, Jasmine Gale, Franco Pirajno, Fred Jourdan, Christopher L. Kirkland, Noreen J. Evans, Bradley J. McDonald, Mark Krejci, Qiang Jiang, Anusha Shantha Kumara, Celia Mayers, R. Adam Frew, Hugo Kaag, Brent I.A. McInnes, Terminal tectono-magmatic phase of the New England Orogen driven by lithospheric delamination, Gondwana Research, Volume 106, 2022, Pages 105-125, 2. Larvoto Resources Limited: https://www.larvottoresources.com/projects/hillgrove-gold-antimony 3. Investing News: https://m.au.investing.com/news/stock-market-news/taiton-resources-ltd-eyes-production-path-at-the-kingsgate-highgrade-molybdenum-project-3147246 4. The Market Bull: https://themarketbull.com.au/2024/01/16/taiton-resources-submits-application-to-acquire-the-kingsgate-project/amp/ 5. McKay, B. A.. “Intrusion-Related Gold Systems in the New England Fold Belt – The Tooloom Example.” (2006). https://www.semanticscholar.org/paper/Intrusion-Related-Gold-Systems-in-the-New-England-%E2%80%93-McKay/78e44d8e2794b71bd71f52e725bcbf7020bf9ff5 d71f52e725bcbf7020bf9ff5

As we welcome 2024, one of the most anticipated settling of dust conversation is what is happening with the lithium sector. Is there going to be a resurgence like that of 2019? Is this the end of the lithium rush? Is this the beginning of the process of the balancing of demand and supply? The past four years can be referred to as the Lithium Years, as there was a significant focus on lithium as a commodity. Investors on the ASX were heavily investing in stocks and taking advantage of the volatility, often without sufficient knowledge. Those who failed to question the technical aspects may have missed out on potential profits. As the lithium sector began to slow down, an article highlighted that many investors had overlooked the fundamental geological aspects of projects during the lithium bull run. The writer mentioned numerous examples of geology that would not have sustained long-term success, but these concerns were largely ignored. Consequently, there has been a lot of negative commentary about companies and doubts about the sector's validity. The writer suggests that this is a common occurrence after a period of intense market speculation, similar to the previous three years. Figure 1: Pilbara Minerals Limited (ASX: PLS) price chart over the last 5 years. Pilbara Minerals Limited (ASX: PLS) is industry standard if one wants to see the valuation of a lithium mining company. As usual, when one looks at a price chart of a producing business, the chart looks positive. However, when you look at Figure 2, which is a chart of both a hard rock and a brine lithium story, which is largely based on the hype, which has no relevancy to the geology and the factual data of a long term sustainable story, it's a different view. Figure 2: A common price chart of lithium explorers over the last 5 years. The top chart is one of a brine story and the bottom relates to a hard rock proposition. As I have been, and am currently involved in ASX companies and am well aware of the promote, I am not pointing fingers at anyone. My point is that there is a need to first understand the geology and then look at the potential of the story. Not all stories will work and not all stories make the first hurdle of discovery. What I think about the Future for Lithium During this time of year, it is common to hear predictions that demand will increase after Chinese New Year. While there is some truth to this, the bottleneck and high pricing in the lithium sector are not helping its prospects. In my opinion, the optimistic outlook that was prevalent in the early stages of the lithium journey has significantly diminished for the medium to long term. However, it is worth noting that a future focused on China is likely to have great potential. My belief in a reduced blue sky perspective stems from the current narrative that the market will witness the emergence of sodium and vanadium batteries in the near future. Although it may take time for the timing and market acceptance to align, there is enough information available to suggest that these power storage solutions will meet the demand. It is undeniable that these new players will have a place in the market. Figure 3: Illustration of the various electrode structures in sodium-ion batteries (Source: By Jang-Yeon Hwang, Seung-Taek Myung, Yang-Kook Sun, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=61410788). The truth is that the lithium story, like any other story, has taken many years to unfold. It may seem like an overnight success, but it has actually been a long time in the making. Therefore, it is reasonable to assume that the new players in the battery storage market, such as sodium and vanadium variants, will also face a similar reality. However, if lithium prices remain high or rise again, alternative and replacement options will emerge more quickly. The ultimate factor that will determine the success of these battery storage alternatives is time. However, history has shown that betting against a market driven by China has been a poor choice in the past. Final Thoughts The lithium market is a crucial component of our daily lives, much like hydrocarbons. While there is a growing movement to reduce the use of hydrocarbons and plastics, it is important to recognise that completely eliminating them would have severe consequences for our world. The continuous growth of the electric vehicle (EV) industry serves as a strong indicator that the lithium market is here to stay. However, this growth also means that there will be a consolidation in the industry, leading to the removal of underperforming projects by various ASX companies. As a result, early players with exploration projects in their early stages may face challenges. Decreasing Lithium Price The decrease in pricing is likely a result of an excess supply due to concerns about reduced Chinese subsidies, rather than a breakdown in the lithium industry. This is commonly referred to as "destocking" in technical terms, and I believe it holds true in this case. It is important to remember that lithium itself is not rare, but finding economically viable deposits is what is truly rare in all commodities. The demand for lithium is driven more by the desire to meet unrealistic timelines and the bottleneck in the downstream process. There is a significant disconnect between investors' rush for profits and the actual understanding of the commercial aspects, as evidenced by the stark contrast between how companies present their downstream processes and the reality of the Chinese process. There is a good interview by Kitco Mining entitled "Lthium supply disappearing - Rodney Hooper on why $1,200 per tonne is a key level of support" with Rodney Hooper. It goes through with great detail the status of the lithium pricing issues. What Does This All Mean for Investors? For those investors who may have missed out on the recent surge in the lithium market or have experienced losses along the way, now is a favourable time to reassess certain stocks and position yourself for the next five to ten years. It is widely acknowledged by credible investors in the media that investing is a marathon, not a sprint, so I won't dwell on that topic. However, I can confidently say that 2024 presents a second opportunity for investment. There are numerous stocks that offer great potential for positioning. Among the small-cap companies, there are a few that I personally find intriguing and believe are worth considering. Please note that this is not a recommendation to purchase these stocks, but rather an illustration of compelling stories that have already proven their worth or have the potential for success. 👉🏻 Delta Lithium Limited (ASX: DLI) Delta is one of those stories that have a lot of promise but in a falling market interest, they are going to be facing cash reserve issues. They have a big operation so if they are going to go into a cash-saving mode, it will be interesting. The share price has taken a battering and I fear it may still have more to go. The project has had some issues and they have been working through it the last couple of years, but with the low pricing, you would have to be cautious on the entry price. For this reason, I think there may be more downsides to come. What I like is that if there is a resurgence of the price, this will be one of the stories that will reap rewards. In my opinion, this is one of the more promising stories on the market. DYOR is a must and keep them on your watch screen. 👉🏻 St George Mining Limited (ASX: SGQ) This is a pure greenfield play and as much as I am not bullish on lithium exploration plays, they have a good corporate partner, Shanghai Jayson New Energy Co. Ltd. Shanghai Jayson New Energy is the largest shareholder in the company and I am sure they are looking to consolidate in this space. That means they should have no further funding issues. This does not mean that they are guaranteed to find an economic lithium resource. However, it may mean that they will have sufficient resources to give their exploration program a better chance of finding the elusive prize. Their portfolio looks substantial but balancing their funds on the spread of projects will be interesting. Samso Concluding Comments I haven't closely followed this sector due to its rapid and intense fluctuations. I felt that there was little time for a proper understanding of projects or technical assessment. Everything was new, including the methods of exploring lithium. However, I am now interested because the market has re-valued these stocks, making it easier to identify technically attractive options without the distractions of an excessively heated market. I believe that the sector will regain balance, and rational discussions will prevail. The transition to a decarbonised and electrified world is inevitable. Renewable energy and mining will play a crucial role in shaping our future. The importance of lithium and its associated metals cannot be denied. I have chosen Delta Lithium and St George as examples because they represent opposite ends of the lithium spectrum in terms of mineral exploration stories. Delta is at the forefront, having made a discovery and now focusing on developing a downstream process. On the other hand, St George is just beginning its exploration journey but is well-funded, which is a significant advantage. Take your time, make wise choices, and now is a good opportunity to DYOR and enter this space with confidence, knowing that the previously overheated valuations are in the past. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. We are always asking the questions that may sound simple and irrelevant, but these are typically the ones that make sense to you, the one seeking the knowledge. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso News Samso Insights There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Happy Investing, and the only four-letter word you need to know is DYOR. 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Download eBook If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and

The Havieron discovery, made by Greatland Gold Plc in 2018, is now nearing production in a joint venture with Newcrest Mining. Located just 45km from Newcrest’s Telfer mine, the project benefits from using existing infrastructure, significantly reducing costs and environmental impact. The Havieron deposit holds a strong Probable Ore Reserve and Mineral Resource, positioning it as a promising gold and copper mine in Australia. This blog explores the journey behind the discovery, highlighting the challenges, perseverance, and exploration techniques that led to success. Investors interested in exploration success stories and high-potential gold-copper projects will find this a compelling read, offering insight into one of the most exciting discoveries in recent years. Sign up for your membership on Samso Insights on Patreon now to access more exciting investment stories. Three types of membership on Samso Insights Choose one or more: FREE: These insights are free and available to all investors. Subscribe here for free. PAID MEMBERSHIP: If you are a bold investor and want more, you get access to the latest and most reliable information from experienced sources that are completely unbiased starting from US$10/month. Start accessing our exclusive content to help with your investment research. PAID ARTICLES: Trustworthy source of well-researched and independent information for investors. Choose what interests you and unlock your choice of article from US$10. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Experienced investors are well-acquainted with our Coffee with Samso and Samso Insights. The new Samso Insights has deeper, thorough research and invaluable perspectives from industry experts, along with Noel Ong's impartial viewpoints that are crucial for investors' analysis. There are three kinds of insights to meet investors' needs Investment has changed in a big way. Samso has created a platform for passionate investors to explore their interests and hear from important companies in different industries that are making a difference. If you struggle as an investor to find a platform that gives you the latest and most reliable information from experienced sources, then the new Samso Insights platform solves this problem by offering independent content that is completely unbiased.  Choose one or more FREE : These insights are free and available to all investors. Subscribe here for free. PAID MEMBERSHIP : Starting from US$10/month, you get access to the latest and most reliable information from experienced sources, that are completely unbiased. Start accessing these exclusive content to help with your investment research . PAID ARTICLES : Trustworthy source of well-researched and independent information for investors. Each article can be unlocked from US$10. Clarity and confidence in investments Samso Insights on Patreon is a platform that offers exclusive access to industry knowledge and advancements across various business sectors. It provides timely information and updates in one place, giving serious investors a competitive advantage.  Members can immerse themselves in a world of insights that go beyond the ordinary, learning from influential CEOs and thought leaders who are shaping industries.  If you're a dedicated and passionate investor, it's time to embrace a bolder approach and take your investment knowledge, experience, and skills to the next level with Samso Insights as a Member. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------ Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.