Client Testimonial from Ed Turner, CEO of Kingwest Resources Limited (ASX:KWR) Ed Turner is enjoying his coffee chats with Noel, and he shares his experience of how Coffee with Samso has been helping investors engage more deeply with the company. Ed Turner: "I was first recommended to have a Coffee with Samso by another industry news publication company that thought Kingwest’s story could benefit from this different interview format. Since then I have had numerous Coffees with Samso and it has proved to be beneficial for Kingwest with numerous new shareholders mentioning to me that this was the first place they had heard the Kingwest story and were impressed enough to invest on the back of it. I believe this different format of interview which is a more relaxed and longer chat rather than a short company update, enables us to go into more detail about our past, present and future and about why people should invest in Kingwest. The fact that Noel is a geologist, who has run an ASX company, helps a lot with these discussions and I believe attracts sophisticated investors who take time to consider their investments carefully. I am happy to recommend, and have already, other ASX junior exploration and development companies to have a Coffee with Samso and will continue to do so." About Ed Turner Ed is a geologist with 30 years of experience throughout Europe, South America, Africa and Australia in a range of roles encompassing base, precious and speciality metals for leading mining companies. Technical strengths include exploration, underground mining, resource estimation, feasibility studies and development level work. Ed was previously engaged as the CEO and General Manager of Exploration of Geology for Galena Mining Limited where he delineated the high-grade Abra lead-silver deposit that is shaping up to be a highly profitable mine development. About Kingwest Resources Limited (ASX: KWR) Kingwest Resources Limited (“Kingwest”) is a mining and exploration company focused primarily on gold exploration in the Eastern Gold Fields Region of Western Australia. It will aggressively explore for and extract gold in a mix of advanced, intermediate, and greenfield projects within this highly prospective district. The Menzies Gold Project - MGP With a new team on board and new projects, Kingwest is redirecting its focus on developing the highly prospective Menzies Gold Project. The Menzies Gold Project contains some of the highest-grade historic production in the Eastern Goldfields with the five underground mines producing between 16g/t and 32g/t Au over their respective life of mine for a total of 650,000 oz @ 22.5g/t. The last underground mining ceased in 1943 and there has been limited drilling beneath the historic workings since then. Open Pit mining during the 1990s before the collapse of the gold price in 1999 also produced 145,000 oz at a high-grade average of 2.6g/t Au. A relatively shallow resource comprising 2.42Mt at 2.2g/t Au for 171,300 oz (using 1g/t cut off) has been estimated in recent years. However, the best future economic potential is in targeting the high-grade mineralisation that remains open at depth beneath every deposit. Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Coffee with Samso Episode 139 is with Ashok Parekh sharing with us his experience in Kalgoorlie and the activities within the Mineral Resources sector. Ashok Parekh is an established and well respected identity in the Kalgoorlie community. This is the reason why he is so knowledgeable about the industry. According to Ashok, he has been in Kalgoorlie since 1984 and that is why I sought him out to join us for a Coffee with Samso. There are not many chances where we get to hear from participants who are well entrenched with the ins and outs of this industry. I have heard of Ashok for many decades but this is the first time I have actually spoken to him. Ashok is a legend in Kalgoorlie, a legend in the mineral resource industry as well as a legend in the art of deal making in a sector that has more dangerous creatures than the Southern Ocean. To all those viewers who are investors, this is a great episode to listen to - here is someone who is in the "purple circle". His words of wisdom are priceless. This is a man who has done it all, so I encourage viewers to watch and reach out to Ashok. Chapters 00:00 Start 00:20 Introduction 01:26 Ashok introduces the story. 03:08 What was the Mining Industry like back in 1984? 05:42 What was the exploration industry like in the 1980s and now? 07:42 The lessons learned from the Silverlake Resources Limited IPO. 09:55 The Mystic of Paddy Hannan. 12:16 The success story from Kalgoorlie. 14:42 Race is not an issue in this industry. 15:44 What is Kalgoorlie like now? 17:13 The Industry is all about Boom and Bust. 18:04 The beauty of the Goldfields. 19:47 The potential of the Superpit. 20:27 Silver and Zinc potential in the Goldfields. 21:03 Biggest Issue for the Goldfields. 21:19 The bottle neck of Toll Treatment. 22:15 The Business of Gold Mining. 23:54 The process of making money in the gold mining industry. 25:56 The Rydges Model. 27:57 Understanding Technical and Management. 29:42 Quality people will create good business culture. 32:18 Commodity Price. 33:06 Lithium - The Real deal? 34:45 Is this our generation of a new Industrial Revolution / E-Revolution? 37:05 Vanadium. 39:40 Mount Holland and Red Dirt Metals Limited. 40:32 Uranium. 42:49 What is Ashok doing now? 44:30 Thank you to Ashok. 44:59 Diggers and Dealers. 45:56 Conclusion and Ashok´s work within the Indigenous Community. PODCAST Ashok Parekh Centenary Medal 2003 Recipient: Australian Government (Governor General of Australia and Prime Minister of Australia) Meritorious Service Award 2009: (Institute Chartered Accountants in Australia) Mr Ashok Parekh is a chartered accountant, with over 40 years’ experience, who owns a large Accounting Practice in Kalgoorlie, which he has operated for 33 years. He was awarded the Centenary Medal in 2003 by the Governor General of Australia, and was recently awarded the Meritorious Service Award by the Institute of Chartered Accountants, the highest award granted by the institute in Australia. Mr Parekh has over 33 years’ experience in providing advice to mining companies and service providers to the mining industry. He has spent many years negotiating with public listed companies and prospectors on mining deals which have resulted in new IPOs and the commencement of new gold mining operations. He has also been involved in the management of gold mining and milling companies in the Kalgoorlie region, and has been the Managing Director of some of these companies. He is well known in the West Australian mining industry and has a very successful background in the ownership of numerous businesses in the Goldfields. Mr Parekh was an Executive Chairman of ASX-listed A1 Consolidated Gold Limited (ASX: AYC) from 2011 to 2014. 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. www.samso.com.au Samso creates compelling stories and content giving real insights from business leaders of ASX companies and private businesses that matter to the investment community. 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 Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

James E Marsh, Managing Director, clears the air about Andromeda Metals Limited (ASX:ADN) over Coffee with Samso Episode 138 The time has finally come with the release of the Definitive Feasibility Study (DFS) - the long awaited release of the Andromeda business. When I last spoke to Andromeda Metals Limited (ASX: ADN) in late 2021, the company was basically doing its best to keep the momentum going while waiting for the DFS to be completed. Here's the previous Coffee with Samso: The Real Halloysite - Kaolin Story - Andromeda Metals Limited (ASX: ADN) - Episode 124 The premise of the whole business was that it is a simple business that was going to make a lot of money. The initial reaction from the market was not a good one, but I think the temperament of investors needs a strong taste of reality. After talking with James Marsh and learning more about the business, I am convinced that the business has moved on from being a simple bulk commodity business of blending the Kaolin product. What they have now is a sophisticated future in the making. Chapters 00:00 Start 00:20 Introduction 00:46 James updating on the DFS. 02:11 Why the negative sentiment from the market? 05:54 What is the New Strategy for ADN? 10:27 What is the Holy Grail of products? 13:23 Discussion on the resource. 16:09 How much can the Probable be upgraded to Proven in the Ore Reserves? 18:49 How flexible is the plant when grades change? 21:50 How is the Kaolin market now compared to 2019? 25:23 Has the Kaolin-Kaolinite-Halloysite market opened up? 27:09 Important changes in the volume of global annual production. 28:27 The Carbon Capture Potential. 30:35 What is next after the DFS? 35:00 What can throw a spanner in the works? 37:09 Conclusions PODCAST James E Marsh BSc (Hons), MAusIMM James Marsh is an industrial chemist and holds tertiary qualifications in chemistry and physics. He has extensive experience across a wide range of industrial minerals spanning a 25 year period, including senior technical and marketing roles with two global market leaders. He previously worked for 7 years as Business Development Manager for Active Minerals Australia, part of the Active Minerals International group, a worldwide leader in the production and marketing of kaolin and gel quality attapulgite clay minerals. Mr Marsh has been instrumental in developing and launching industrial minerals products into established and new applications globally and has a successful track record in general management and sales. Andromeda Metals Limited (ASX: ADN) Andromeda Metals Limited is an Australian Securities Exchange-listed company (ADN) with a focus on developing the Carey’s Well halloysite-kaolin deposit in South Australia. The company has built a highly prospective exploration portfolio of projects covering 5,374 sq km within 19 exploration licences located in South Australia, Queensland and Western Australia. Andromeda Metals (previously Adelaide Resources) was incorporated on 23 December 1993 and subsequently listed on the ASX on 11 September 1996. The Company’s head office is in Adelaide, South Australia. The vision of Andromeda Metals is to be a sustainable industrial minerals producer of high-quality halloysite-kaolin and high purity alumina material, thus providing shareholders with a sustainable financial return on their investment in the Company. 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. www.samso.com.au Samso creates compelling stories and content giving real insights from business leaders of ASX companies and private businesses that matter to the investment community. 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 Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Coffee with Samso Episode 137 with Robert Mosig, CEO of Caeneus Minerals Limited (ASX: CAD) Caeneus Minerals has been busy since our last Coffee with Samso in September 2021 where Robert Mosig, CEO of Caeneus Minerals Limited, showed us what was happening with the projects. Caeneus has been slowly working the projects in the Pilbara looking for gold and now, base metals. The Pardoo project is now showing some good indications of Ni-Cu-PGE which would be a new style discovery for the area. You can check out the previous Coffee with Samso with Robert Mosig here: Looking for the next Gold Mine in the Pilbara - Caeneus Minerals Limited (ASX: CAD) - Episode 110 Chapters 00:00 Start 00:25 Introduction 00:56 Robert updating on the Caeneus Projects. 01:53 Mineral Exploration is not an overnight process. 02:54 Where is the exploration thinking now on the current projects in Caeneus? 06:19 Why did people think that there is no gold in the Pilbara? 10:03 How much time is Robert spending on the thinking process? 11:51 Caeneus is not just after gold. 14:33 The Pilbara is a polymetallic province. 16:40 Avoiding the 'Jack of All Trades" statement. 18:12 Where is this mineral Industry "boom" going to stop? 20:44 Geopolitical unrest is helping out mineral exploration. 22:02 The news flow going forward. 23:39 Last words from Robert Mosig. 25:02 Conclusions PODCAST About Robert Mosig Mr Mosig is a geologist with over 30 years experience in platinum group metals, gold, diamonds and specialty metals. In 1986 he was the founding Managing Director of Helix Resources (ASX:HLX) and in 2006 he was the founding Managing Director of Platina Resources Limited (ASX:PGM). Mr. Mosig brings to the Caeneus team a strong technical and corporate contribution covering involvement in field programs through to corporate and technical acquisitions and fund raising activities. About Caeneus Minerals Limited (ASX: CAD) Caeneus Minerals Ltd (ASX: CAD) is an Australian-based mineral exploration and development company established for the purpose of acquiring a portfolio of highly prospective exploration projects. The Mallina Province Project The company’s exploration licences at Roberts Hill and Mt Berghaus cover an area of 170 sq km and 179 sq km respectively and are situated approximately 50 kilometres to the south of Port Hedland. The ground is comprised of structurally and chemically altered granitic, intermediate and ultramafic intrusive rocks which are considered highly prospective for additional gold occurrences to the recent discoveries in the region (De Grey’s Hemi). 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. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this 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 on noel.ong@samso.com.au. About Samso Brilliant Investments Samso's compelling ASX stories are also featured on Brilliant-Online.

Coffee with Samso Episode 136 is with Michael Jardine, Managing Director of Ironbark Zinc Limited (ASX: IBG). When I first came across Ironbark Zinc, I was intrigued by the Citronen Zinc-Lead project in Greenland. It is a project that has basically ticked all the boxes for mining and production to happen immediately. The Bankable Feasibility Study (BFS) was released in July 2021 which looked pretty good. I reached out to Michael to see if we could have a Coffee and showcase what I think is a ready made project. It is not every day that you come across a project that seems to have all their ducks lined up in a row yet nothing is happening. Chapters: 00:00 Start 00:20 Introduction 00:56 Michael introduces the Ironbark Story. 01:42 Geology of the Citronen Zinc Project. 02:47 How has the market reacted to the BFS? 04:38 Zinc Price. 07:24 What is the process of breaking dirt for Ironbark? 09:55 How do you manoeuvre through the potential cost of Arctic mining? 13:10 Why Citronen is easier than other "Arctic" mining projects. 14:53 The Jurisdiction Question. 17:32 The Uranium Spanner in the Works. 18:15 Exploration upside of Citronen. 19:52 Greenland is a good place for a mining project. 21:22 The Green - ESG Zinc conversation. 24:55 What are the drivers of the Zinc market? 26:39 Substitution of Metals. 27:29 Can Citronen be a Green process? 29:44 Why invest in Ironbark? 31:45 The marketcap of Ironbark is low. 32:44 Conclusions PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Michael Jardine Managing Director Mr. Jardine has a strong background in Corporate & Project Finance, Strategy Development and Minerals Marketing and his previous experience includes Board & Executive roles at a number of junior ASX listed resource Companies. Mr. Jardine has previously served as a Director of Atrum Coal Limited (ASX:ATU) and Pegasus Metals Limited (ASX:PUN, now Scorpion Minerals Limited). Mr. Jardine also served as the General Manager, Corporate Development for formerly listed General Mining Corporation (ASX:GMM) from 2013-2016, and Eastern Goldfields (now Ora Banda Mining, ASX:OBM) during the same period. About Ironbark Zinc Limited (ASX: IBG) Ironbark Zinc Limited (ASX:IBG) is developing the 100% Owned Citronen Zinc Project 30 Year Mining Licence Granted Bankable Feasibility Study Complete Pathway to Funding Supportive Partners – Nyrstar & Glencore Strong Zinc Price Ironbark is focused on developing its 100% Citronen Zinc-Lead Project in Greenland. In late 2016, a 30 Year Mining Licence was granted by the Greenland Government and in September 2017 Ironbark released a cost update to its 2013 Feasibility Study. The results of the study demonstrated compelling economics of an NPV of US$1,035M (US$909M post tax), IRR 36% (post-tax 35%) and life of mine revenue of US$6,364M. Please refer to the announcement of 12 September 2017 for full details and price assumptions. The Feasibility Study Update (2017) was based on the original 2013 Feasibility Study but has incorporated a recent review of capital and operating costs. Several major changes that have been highly favourable include improved global benchmark smelter treatment terms, lower fuel prices (which represents one of the Projects´ largest forecast costs of operation), and the long-anticipated recovery in the zinc price. There have been some cost increases, including wages and some materials, however, the result is a far more robust project than ever before which is reflected in a post-tax NPV of US$909 million, placing Ironbark in a strong position to become a major new zinc producer. Citronen represents one of the world’s largest undeveloped zinc deposits with 12.8 billion pounds of zinc defined in its open-ended JORC compliant resource. Current mine life stands at 14 years. However, the project is at this stage only limited by drilling and is open in most directions. The ore zones are simple, flat and continuous which lead to a simple room and pillar underground mining operation. The higher grade underground mine is supported by open-pit fresh sulphide ore with a low strip ratio. Proven DMS and flotation techniques will produce separate zinc and lead concentrates. The project benefits from a mining friendly government with low sovereign risk. Mining will take place all year round with a three month shipping window. Ironbark is supported by its major shareholders Nyrstar – a major global zinc smelter group, and Glencore International AG – the world’s largest zinc trader, major zinc miner and smelter. The price of zinc has remained exceptionally strong throughout 2017, and rose steadily throughout the September quarter, reaching 10 year highs. Zinc, the fourth most mined metal by volume, is mostly used for galvanising steel, and has run hard since June 2017 reaching a peak value of US$3,264/tonne on 3 October 2017. LME zinc stocks are currently below 270,000 tonnes, which is down by over 40 percent from a mid 2016, which suggests market tightness. The Chinese Shanghai stockpiles are following the same trend and are also substantially lower. Lower Chinese treatment charges and better zinc payability terms being offered by the smelters also point to a genuine market tightness. It has been widely forecast that zinc prices may continue to trend upwards in the near future driven by increasing tightness in the concentrate market, following the closure of several major mines and healthy and growing zinc demand. This has been observed already with increasing Chinese refined metal imports. Overall tightness in the market and the major metal warehouses such as the London Metal Exchange (LME) and the Shanghai Exchange with regards to falling stocks are likely to be supportive and drive zinc prices even higher. In the context of Ironbark, this should prove to be a very supportive financing environment. 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 Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

This week I have decided to go off tangent and introduce an associate of mine who works and lives in the exciting city of Dubai. Maria Kanakrieh and I met in 2013 on one of my many investor relations trip and we have kept in touch sporadically. I was surprised to find out that Maria is now an IT guru with the launch of her own App. I was automatically intrigued with what is it and how she started this journey with multiple questions. So I invited Maria to share her thoughts on the journey and her App. Maria Kanakrieh began her career in a specialist marketing role, before shifting to a business development role which services all sizes of businesses in the Middle East. The positions allowed her to gain great relationships with many local and international companies ranging from SME to corporate. After joining the investment industry, Maria has been able to connect and coordinate opportunities ranging from oil and gas, confectioneries and mining. After a few years in the industry, Maria decided to pursue the entrepreneurship road where she is currently focusing on tech business ideas. The End of Outdated Resumes by Maria Kanakrieh Finding the right job might sound like a dream come true to many, whilst finding the right candidate – better yet, team player, is one of employers’ toughest jobs. They say, hire people smarter than you, hence why many dedicated much of their time and resources to go through hundreds if not thousands of resumes and dissect experiences of those beings, on a piece of paper! Fascinating stuff. LinkedIn has successfully been able to cater to the professional world and been one of the most used platforms to connect to potential candidates. They mastered the art of taking an outdated resume and plugging it on the web for easier access, plus added some pretty cool features to make it more social. Major thumbs up where simple creativity had put them on the map of superbly successful companies. The question is, is it not an outdated method? Aren’t many candidates losing their chance of being hired due to reasons such as not enough degrees because of money issues, or, not enough exposure to corporate companies because they did not attend elite schools and colleges, the list can go on. My co-founder (Laith Al Hassan) and I spent some time trying to figure out how we can begin our entrepreneurship journey with a cool business idea that would be useful. That is when some funny and crazy ideas started bouncing off during our brainstorming sessions. A shorter version of the story ends with us thinking about our close friends always asking us to hook them up with job openings. They were all great individuals; smart, presentable, hardworking – the whole package! Why were they unable to secure interviews from sending through their resumes? Because they were not even given a chance to show their personalities. They were only being judged by a piece of paper – that, let’s be real, sometimes includes information that is exaggerated and not interesting. It is, after all, a piece of paper. With social media’s popularity over the past few years, and peoples’ obsession with their smart phones and stalking – I mean, watching other peoples’ moves online, came the idea of our first business. Clipme – think about resume, in a clip form (and yes, it is pronounced similar to resume with the accent). Clipme is an app that allows anyone looking for a job, to upload a 20 second clip of themselves. One can simply pitch themselves and enjoy their 15 seconds of fame (hence why we went with ’20 seconds’ – close enough). Once their clip goes live, employers can simply scroll through the different categories of jobs and double tap on the clips of candidates they fancy to connect with. Sounds interesting? Would you like to know more? Check out www.clipmeintl.com Please feel free to contact Maria through www.clipmeintl.com or email me on noel.ong@samso.com.au and I will make the connection for you. 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. www.samso.com.au 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

In 2009, I sought out to list a company on the ASX with the sole determination to discover the next gold mine or the next commodity mine. I looked at the market and decided that the best commodity is gold for the uncertainty and the fact that it has been over sold. The other was Uranium and that was because I believed that the cleanest and most efficient form of future energy is nuclear. Now, I was correct in predicting that the pricing of gold and uranium (Figure 1 and 2) would rise and the market will be there if you discovered the deposit. Now the fact that we could not find that deposit was the problem…… Although the uranium price did tank after Fukushima so technically, we could have found the deposit but the market was just not interested… :-). My story is not different to that of many explorers looking for a go, some come and go and some come and become monsters, such as Sirius Resources Limited (ASX:SIR), Sandfire Resources Limited (ASX:SFR; Figure 3), and maybe ………….. well nothing else really…….There are many other success stories but I cannot remember any significant discoveries that would fall into a “blind discovery” story, I am more than happy to accept the ones that have forgotten….. just a sign of old age….. I guess, Great Central Mines with Bronzewing and Jundee could well fall into that category but that is going back to the early 1990s. However, in my opinion, the Nova story is the most impressive and I am sure, every exploration geologist would like to write as his or her own. I for one, would have liked that to be my story, but it belongs to Mark Bennett and the Sirus team. The exploration process or sequence is pretty well captured by a article written by Brendan Jephcott in Linkedin. It is a well written article and gives the reader a good understanding of how it went from a grassroot exploration project to a major discovery that is worth every dollar spent in exploration. (https://www.linkedin.com/pulse/nova-bollinger-ni-cu-deposit-brief-history-brendan-jephcott-{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}E4{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}B8{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}81{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}E4{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}B8{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}81) A couple of YouTube videos of Mark Bennett is excellent for those that are interested. The presentation is made to the Australian Institute of Geoscientists so its a geological presentation. What is a good note is that in the Q and A part, you can pick up that the discovery is primarily a test and see method. His title of WHO DARE WIN is exactly what EXPLORATION is all about and that is why I loved the Nova story. Presentation of the discovery by Mark Bennett – https://www.youtube.com/watch?v=TIk3nCBtuC4 Q and A with Mark bennett after his presentation – https://www.youtube.com/watch?v=TGryOpjM2o8 Sandfire has a similar story but my point is that there has not been many major discoveries in recent time that is worth mentioning. There have been success stories where companies have extended mineralisation in old mined deposits or discovery of major deposits within the mineralsied zone. Probably the best is that of Trident Gold Mine which was discovered by Avoca Resources. It had a resource of over 900,000oz. The company discovered the deposit after near mine exploration. The other is the Invincible deposit discovered by Gold Fields Australia just south of “Kambalda Goldfields”, ( http://diggersndealers.com.au/wp-content/uploads/2014/03/GoldfieldsDiggers-Dealers-Invincible-FINAL-for-DD-Presentation-Copy.pdf ). The AUSIMM published a very interesting article in 2015 titled, ” Tackling the crisis in mineral exploration” https://www.ausimmbulletin.com/opinion/tackling-the-crisis-in-mineral-exploration/“ This is a very economic article on the merits of exploration and why exploration is very important, complicated and expensive. I would strongly recommend a good read as this will really caputre the real essence of why we need to explore. It makes a very interesting read and it highlights out the increasing cost of discoveries. I believe that the cost of discoveries are due to many factors such as greater depth, greater difficulties in finding deposits, greater cost of labour…etc However, the lack of discoveries is significant as that means the rate of replenishment is not being met and in many circumstances, the supply is going to be lacking behind demand. With this in mind, expenditure into exploration will need to increase in the near future and all the neglected advanced exploration projects will eventually demand value and those that sit on the sideline now will be regretting this lack of movement now. For those who wants to understand who I consider a modern day prospector who has made persistent prospecting a real success, have a look at this …… Mark was a prospector for almost 20 years before his first major win and that was the Bronzewing Gold deposit which he sold for about AUD150M. It was another 20 years before his next win and that was the Nova Nickel Deposit, and I think he sold his remaining share for a total win with Nova of about AUD600M+. https://www.youtube.com/watch?v=yABf8vBW6LA On a final note, this is what exploration is all about on a small sacle…. just for fun, watch this………. https://www.youtube.com/watch?v=QXahfkEia2g https://www.youtube.com/watch?v=wrz-Qf-WM-c 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. www.samso.com.au 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

This is an updated post from Sam Ulrich. The mining industry mantra “Grade is King” is often used, especially in the gold industry. But is it true? Do higher gold grades automatically mean lower costs, potentially higher profits and possibly better returns for investors? What sounds so simple in theory is not in reality. At the single mine scale, the grade is king holds true. All the costs of extracting the gold and sustaining the operation, known as the All-in Sustaining Cost (AISC) on a per ounce basis varies with gold grade, where at higher grades, AISC is lower and vice versa. But when collectively comparing the Australian gold industry as a whole, such a relationship is not transferable between deposits. For example, in the September 2016 quarter the Gwalia gold mine processed ore grading 10.00g/t producing 67,118oz of gold at an AISC of A$774/oz (US$587/oz) and the Mt Rawdon gold mine processed ore grading 0.99g/t producing 24,878oz of gold at an AISC of A$764/oz (US$579/oz). Both of these mines will be two of the lowest cost gold mines in the September 2016 quarter, and yet their grades are an order of magnitude different. Most mines in Australia will have gold grades between these two mines and will have AISC higher, than these two mines. Collectively as an industry “grade is king” does hold true at the ore processing stage, but not at the ore mining stage (Figure 1). Knowing this, additional geological factors other than grade must have an influence over the operating cost structure of the mining operation. The minable geometry of the orebody generally decides the mining method, which influences costs, what derives this minable geometry? Answer, structure, mineralisation style(s) and grade. These factors combined with scale (size of the orebody) determine the costs. A good way to get a feel for this is what is the average gold ounces per vertical metre. Differences obviously exist between open pit and underground operations and the operations that use both mining methods. Whenever you hear that a gold resource is of good grade and better than, ding, ding, ding projects/mines, ask the additional important questions, what is the underlying structure, mineralisation style, scale of the deposit and how many average gold ounces per vertical metre does that relate to? It is easy to pull out a so-called comparable selection of deposits to show a gold resource in good light with respect to grade, but it does not mean it is any good. For an excellent recent summary of the Australian and New Zealand gold industry for the 2016 June quarter check out. http://www.cet.edu.au/news-and-media/news/news-details/2016/09/02/ravensgate-cet-gold-operations-bulletin The author, Sam Ulrich is a consultant geologist with over 20 years’ experience, primarily in mineral exploration, resource development and mineral asset valuation in Australia and Asia. He is presently undertaking a PhD part-time at The University of Western Australia, investigating the geological controls on the operating cost structure of Australian and New Zealand gold mines. The aim is to link economics with geology to understand the drivers of competitive advantage between gold deposits. He is contactable at sam.ulrich@research.uwa.edu.au LinkedIn Profile https://www.linkedin.com/in/samulrich 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. www.samso.com.au 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

In my endeavour to look at new concepts and creating new networks, I visited the 2018 International Business Festival in Liverpool, UK between the 11th June and the 25th June. The festival took the format of 3 days per week for 3 weeks, so a total of 9 sessions. Although the main components of the talks were about the UK, I picked up a lot of concepts and ideas for the Austalasian sector. There was also the creation of new networks of investors and projects. Each day had a different theme and within each day, there were micro themes. https://www.internationalbusinessfestival.com/ Week 1 1. Global Economics 2. Urbanisation & Cities 3. Sustainable Energy Week 2 4. Future Transport 5. Manufacturing 6. Global Logistics & Shipping Week 3 7. Health & Life Sciences 8. Creative Industries 9. Sport, Culture & Travel The one major story I kept hearing was the aggressive nature of British government spending. The figure of £6B were being spent to generate business in the UK. There were also the numerous government sponsored agencies that were created to aid small businesses to compete and participate within the EU and the rest of the world. I attended one stand and it was showcasing a satellite imagery software to monitor mining and environmental projects. It was one of two things i saw that had direct relationship to the mineral resources sector that I seem to live in. However, the lady explained to me what they do and I wondered if we had anything like that in Australia. They were called Catapult – Satellite Applications ( https://sa.catapult.org.uk/about-us/ ) and they were one of 6 or 7 other catapults in the UK. There was one for different “sectors”. Then there was the daily Investor Pitch which was the organized by the UK Business Angels Associations ( https://www.ukbaa.org.uk/ ). These talks were the best thing about the whole festival. I found myself a comfortable couch (yes, they had one) and I sat down and listened to a myraid of 5 minute talks on everything from IT to Hemp building products. While we are all going through our networking, we were graced with the company of Prince William. Apart from the great talks and networking, the 2 weeks had other enjoyable parts, such as my trip around Manchester and Liverpool, my scenery along the journey by train from Manchester to Liverpool and my trip to Anfield… 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. www.samso.com.au 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

Just went on a trip to the Pilbara for a short job with a client and I had forgotten how beautiful this place was, especially in winter. Arriving on a Friday, I did the usual visit the office, drop my gear off and then I went looking for my site and drove down the Tom Price bitumen road. “Do or Do Not. There is No Try — Yoda” I remembered the famous quote by Yoda and took off the road to find an obscure turn off before a Floodway sign where it will lead me to a site I have never seen before, that was the directions given… Luckily being an Exploration Geologist, I found it and never got lost like accountants…… After a day of locating drill sites and talking to the appropriate people to clear drill pads, it was back to see what has changed to the township of Karratha. The last time I was in Karratha ( https://goo.gl/maps/chpkAwcWCqL2 ) for a decent time was in 2007. I had a brief stop nine months ago, but we were in the field all day, and all I saw was the night version. My verdict is that they have taken away the swimming pool and built apartments. Apart from that, it is the same with the addition of KFC, Subway and MacDonalds. Oh and excellent pubs/restaurants that charge like a wounded bull :-). The next day was spent making sure all was good with the earthworks, talk to the drillers and more photography. I went wondering outside the drill area, as I always do, to see what I could be drilling into and I came up with these two beauties. At a temperature in the high 20s Celsius, it was as perfect as you can get to do some geological wonderment. The Pilbara in my opinion is one of the best places to work; it just grows on you. The third morning is when I took my first sunrise photos, and it was a good morning. The drillers were a touch late…. 10 am…but who is counting.  Anyway, I enjoyed sitting around the weather and just relaxing, but it would have been good if I could have had a couple of coffee as well. The best part of this trip was the fact that a guy was mapping the area. We had many great discussions on what possibly could be happening here, and I was all ears to his thoughts. I was surprised that I had some excellent insights myself (always under appreciating my talents….). This help is the best part of exploration. “It is a previlage to be an exploration geologist as you get paid to go to places people who pay lots of money will never get to go and experience the wondrous Australian outback.” The job was over in a hurry, and it was back to photography and then having a mellow return to civilisation. I look forward to the next job and hopefully a trip to a nice place and not some boring mine site…… 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. www.samso.com.au 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

Written by Adam Smith Shoe Ask anyone to share with you what they know about economics and chances are Gross Domestic Product (GDP) will get a mention. Ask an economist what is GDP in private, and you will hear that it is a lousy measure but better than nothing. GDP has been around long enough to provide relativity for analysts, commentators and joe-public alike. But it is still a lousy way to measure. Here’s why. I refer to the three letter GDP acronym as a measure that “Grossly Deceives People.” One and all sell it as THE measure of economic health to all and sundry. In reality, it is an easily gamed measure that incentivises poor choice and compounds mal-investment. Take Australia’s record 24+ years of uninterrupted positive GDP. Politicians in government spruik this as a miracle of fiscal government engineering. How long? Note how the line stays above zero after 1992 in the above chart. Peel back the GDP numbers, like most economic measures, and the miracle is how miraculous politicians have been in getting away with the GDP deceit. For the average person a good outcome is to be able to get on with life, contribute their bit, have some R&R in between, and accumulate some wealth. Pretty basic stuff. One would “think out loud” (sic.) that a quarter of a century of faultless positive GDP would translate into a citizens paradise. Surely a nation of utopian wonderment? Far from it, and the public is waking up to the GDP deceit; too late for many. Manipulating the GDP spin is easy. For example, as GDP goes up, so too goes up the nation’s wealth. Great! Take that growing wealth and divide by the population number means not so great for Australia. You see aggregates like GDP are deceitful unless pulled apart and put through comparative analysis. A stagnant population with upward GDP is a population where the benefits per-capita are going up. That’s a good thing; only that is not what happens in Australia. True, GDP has been positive for 25 years or so, but so too has net immigration. And the “net” of net migration dispersal across Australia is narrowed to two cities; Sydney and Melbourne. That means GDP for these population centres in NSW and Victoria is excellent, per-capita GDP, not so. Immigration is just another of the three card tricks in the GDP game. Add more people to a country, and you can add the new arrivals as a percentage directly to the GDP number. What? If GDP was stagnant at 0%, but you allow an influx of migrants, adding 1.5% to the population total, guess what? GDP goes from 0% to +1.5%. Clever isn’t it. Population growth through net positive internal population growth plus positive overseas migration to Australia has subsumed any clarity GDP measurements can provide business and the general public. Back out population stuffing from the GDP number and Australia looks like an ossified economy creeping to a halt. As I type this Australia’s population will reach 25 million souls; 30 years ahead of schedule. Thanks to bringing forward population growth to support the positive GDP narrative, GDP has remained upward, even though Government as a share of the economy now makes up 25% of activity. (Federal – ex-State and Local). Significant manufacturing is all but dead, but for a few outposts, if it wasn’t for extractive industries the whole economy would be transfer payments (welfare), government pork barreling infrastructure like roads, and not much else. What has Australia got to show for 25 years of continuous positive GDP? Infrastructure demand out-weighs the ability of government to deliver or indeed even fund it. One new person requires about $350,000 of immediate infrastructure. Yes, really. All these new souls have brought the miraculous GDP growth rate to a tipping point where growth can’t keep pace for per capita benefits to wash through. Combine the cost per person in new infrastructure demand and it the word Ponzi scheme comes to mind. GDP based on population stuffing ignores positive and negative “externalities”; a clever economists’ word to describe the unseen impacts of an outcome. Constant positive GDP has given rise, in concert with lower inflation, to cheap interest rates. The negative externality of cheap debt causes the maximalist behaviour in house owners; borrowing up to their eyeballs to “climb the property ladder”. Population stuffing has created demand for housing, add low-interest rates, and you get a housing boom, great if you are an existing owner, not so if you aspire to be one. For some, owning a home means moving State or relocating to regional centres far away from familiar family and friendship ties. Theoretically possible, but in an age of me, me, me, there’s little chance we will see wholesale migration out of the bulging State capital in NSW or Victoria any time soon. Positive GDP, great for housing but only if you can afford it. GDP masks productivity changes too. Australia’s productivity index is flattening out at 100. That’s terrible news; productivity should be the primary driver of positive GDP (The P is Product). A quarter of a century of comfortable economic conditions gives rise to inefficiency and idleness. Australia’s workers are going backwards in productivity, at a time when the machine age is encroaching on workers one and all. Not a healthy combination. Negative GDP means recession and recessions are aren’t they? Well, yes recessions are bad, Western Australia has been in one for four years, but thanks to seasonal adjustment revised numbers – another of the card tricks on offer. The data for WA GDP at a State level is massaged monthly so that no two following measures come out negative, thanks to revising the previous one every time the new one comes out. Don’t believe me? Check it out yourself. Laughable. The recession in WA has left households in negative equity territory, retail sales flat to negative and unemployment at around 6-7% depending on the workforce participation rate changes. Greater efficiency and less price gouging are positives for WA out of the four-year contraction in the State economy. Want a house built? Now is the time, the fat in the building industry is gone, gone, gone. For WA the GDP con has delivered a recessionary environment that encourages efficient allocation of resources. Not so in the East. Light rail in Sydney, road contract cancellations with billion-dollar penalties etc, the “other side” of the Federated States and Territories is living in an altered universe. Eventually, the GDP game will be up, no amount of population stuffing and gaming the system can keep it together. Jobs growth is another favourite. Politicians think politicians create jobs. No, they don’t, sorry for the truth syrup. But in taking the credit for the upside politicians must accept they also take the blame for any contraction too. Insofar as successive Governments have hung their shingle on positive GDP as a thing entirely of their making, any shift to the downside is their fault also. Dream on! But dreams, in this case, will come true, in the next term of Federal Government (3 years) the chances of a recession are pretty high. As such, the winner of the next election might turn out to be the loser if the public doesn’t buy the line that the recession was not their fault. The “Gross Deception of People” is about to get more deceptive. Watch this space. 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. www.samso.com.au 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

I knew about the rush on medicinal cannabis but I did not understand … till now -The Hat In simple English, Cannabinoids are a group of active compounds found in all strains of marijuana. Marijuana contains many chemical compounds that create the different characteristics of the plant. Terpenes provide flavours and aromas, while chlorophyll in the leaves makes the plant green. But the essential chemicals in marijuana are the cannabinoids. This link ( https://www.leafscience.com/2017/10/25/what-are-cannabinoids/ ) has an excellent explanation of what it is and how it works in a marijuana plant, so I will not go into the detail. I want to talk about what is happening with this word… I know that this is not a new topic and it is well researched. There is even a whole research centre called The Australian Centre for Cannabinoid Clinical and Research Excellence ( https://www.australiancannabinoidresearch.com.au/ ) It’s just something that I think the general public is not aware of, at least aware that there has been a heap of research going on about this new “drug”. Other than that, I have just been living in a cave as I am the only one that has no idea what the fuss is all about. Basic Points Cannabinoids are the chemicals which give the cannabis plant its medical and recreational properties. Cannabinoids like THC and CBD interact with different receptors in the body to produce a wide range of effects, such as feeling high. THC is known for its psychoactive properties and is the reason you feel “high” after ingesting marijuana. CBD is a non-psychoactive cannabinoid and works to counteract the high. CBD also has numerous benefits , such as anti-inflammatory and neuroprotective properties. But what exactly are cannabinoids, and why are they able to interact with the body? The answer has to do with cannabinoid receptors in the endocannabinoid system. Let’s take a more in-depth look at these fascinating compounds. There are more than 113 different cannabinoids in your real plant. THC and CBD are the most prevalent and the most well-understood. Marijuana’s cannabinoids are produced and stored within the trichomes (crystals) of the plant. These trichomes give marijuana flowers their shiny and sparkly appearance (never seen one outside of a photo). While THC and CBD are the most well-known cannabinoids, there are many other cannabinoids in marijuana that offer health benefits. Some of these include cannabigerol (CBG), cannabinol (CBN), and cannabichromene (CBC). I do not profess to know everything about these cannabinoids but from what I have read. It seems that those chemists in this area are having a field day with the possibilities. Good or bad. In summary, its all about how receptors in our system attaching to these cannabinoids in our system and doing chemistry. Interestingly, we humans also produce cannabinoids. Read the link provided. It’s all exciting stuff. What is so fascinating about Cannabinoids? Now as we all know, there is a heap of anti-cancer solutions, but the use of cannabinoids is just too interesting for this rock-licker. This is one very scientific article https://www.sciencedirect.com/science/article/pii/S0278584615001190 that I found. But its just not the anti-cancer, I have seen some videos about its use with Parkinson disease and the result is short of amazing…Being a person who considers the aged with such issues, I am all for this fantastic stuff. I would be very interested in seeing if it can do anything with dementia patients… now this area I am very intimate with, and I tell you, it will make lots of peoples life significantly better. This is the abstract from that paper, It is well-established that cannabinoids exert palliative effects on some cancer-associated symptoms. In addition evidences obtained during the last fifteen years support that these compounds can reduce tumor growth in animal models of cancer. Cannabinoids have been shown to activate an ER-stress related pathway that leads to the stimulation of autophagy-mediated cancer cell death. In addition, cannabinoids inhibit tumor angiogenesis and decrease cancer cell migration. The mechanisms of resistance to cannabinoid anticancer action as well as the possible strategies to develop cannabinoid-based combinational therapies to fight cancer have also started to be explored. In this review we will summarize these observations (that have already helped to set the bases for the development of the first clinical studies to investigate the potential clinical benefit of using cannabinoids in anticancer therapies) and will discuss the possible future avenues of research in this area. In my last blog on Industrial Hemp, I was sparked by this mention of the work on cannabinoid that will push governments to look at more liberal legalisation of the uses and production of Industrial Hemp. I was not sure what that meant and was not even able to pronounce the word… and then it all clicked… so this is what all the fuss is all about on the stock market. A simple Google search will unearth a plethora of information and people can debate the moral and ethical parts of cannabinoid use. I think if we can extract these “things” naturally and it is a good thing, I am all for it. Interestingly there is a video where one researcher mentioned a study completed where they showed that heavy smokers of “ganja” showed a negative chance of cancer. Heavy smokers of tobacco were 10-fold or 20-fold positive for contracting lung cancer. Whether this is Real or Not, I will leave the decision to DYOR. source: https://atlasofscience.org/the-safety-and-toxicology-of-cannabinoids/ https://www.sciencedirect.com/science/article/pii/S0278584615001190 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. www.samso.com.au 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