Late 2017, I met up with an associate of mine who told me that he was working on a very interesting project, conceptual in manner, using new theories and using recently released information from the Mines Department. He told me that it was in the Wheatbelt areas. I was thinking that this is farm land… people grow wheat on these farms… sure there were some history but there are a lot of these isolated discoveries that were there but nobody would have thought to go and chase them….. As usual, we parted ways and i never followed up…cause I was too lazy or just did not think that it was such a great thing… mind you, at the at that time, the small cap sector was running hot and everything was about Cobalt and the Conglomerate Gold in the Pilbarra. On 15th January, Cygnus Gold Limited (CY5) commenced trading on the ASX. I heard that they raised AUD6M and had over-subscription of another AUD6M. Now I did some research and after another meeting with my friend on another matter, I found that my friend traveled with well healed people…. I am glad he still takes my phone calls 🙂 I met my friend in March 2018 and I remember the stock was still north of 30c. Now, what is most fascinating for me is that the whole concept reminded me of the Gold Road Resources journey. How they ventured into and area that was of similar unloved territory. Now if they made that wild story work, this could be very interesting. Gold Road Resources went after the Yamarna Belt and locked up the whole region. The Yarmana Greenstone Belt was know as something that will not have the endowment of the Norseman-Wiluna Greenstone Belt as it was not of the same age. There were some mineralisation but the believe was that it will never be of the same scale as the Kalgoorlie Norseman-Wiluna Belt (Figure 1). Even the almighty Western Mining thought it was not going to happen because there was no water….. The Yamarna is approximately 1hr and 45min by air from Perth. There is now no argument that it is major goldfield (Figure 2). The resources that they have found is rather amazing. Remember that the company owns nearly the whole 180km of strike…..Yes, the whole belt………… There are two main players in this wheatbelt region, Cygnus Gold Limited (ASX:CY5) and Explaurum Limited (ASX:EXU). CY5 was an IPO and i believe EXU was a RTO done in mid 2015 (I could be wrong on EXU). EXU: Last Traded 10th August 2018 : $0.086 (MC 41M) CY5: Last traded on 10th August 2018 : $0.089 (Market Cap : $4M) The concept for Cygnus was that the Wheatbelt region geologically was similar to the Kalgoorlie goldfields and this area has largely been overlooked. As in most early exploration strategies (many times this is due to the money telling the geologist what to do), the theory was to chase the low hanging fruits. With so much attention given to the Kalgoorlie Goldfields, Leonora-Leinster-Laverton region, the Murchison, and then the Yandal Belt, the rate of exploration in the Wheatbelt area was lost in space. Like the discovery of the Boddington gold mine in the Darling Range in the early 1980s, good explorers with the sense of adventure will find what they are looking for in the end. Think about Tropicana, Sandfire, and Nova. These are all exploration success stories in the last 10 years. The story for Explaurum is very interesting and as I discovered in my research, the company’s history has a connection to me …. this is so wierd…. Explaurum is basically Auzex Exploration, which was one of the previous owners of the Kirwan Tungsten Project (NZ) which I picked up in my past life as the MD of Siburan Resources Limited. The Board of Explaurum has done this before and they come from the land of the Long White Cloud. While writing this, I am now seeing the familiar names of Chris Baker, John Lawton, Gregor Partington. What a small world. Good to see them have the continued success. I know Chris from my doings in NZ during the Siburan days. In May 2018 the Company announced the completion of a Feasibility Study for the development of Tampia, which confirmed it as a high-margin gold project.  In addition, Explaurum announced an initial Ore Reserve of 7.2 Mt grading 2.09 g/t Au (485,000 oz contained). The all-in sustaining cost (AISC) is A$896 oz for the first two years of operations and A$998 oz over LOM, with 104,000 oz Au produced for each of the first two years of operations. Pre-production Capital Cost estimate is A$119 million (including a $10.8 million contingency) and payback in 18 months from commissioning. As you can see in Figure 6, the resource is not too bad for a wheat farm… 🙂 Tampia was first discovered by BHP in 1987 and exploration in the early to mid 1990s established a high grade, shallow resource. Since the mid 1990s, very little exploration was carried till Explaurum acquired the the project in 2012. Typically, the project was generally unloved due to a poor understanding (maybe lack of market perception) of geology, mineralisation and mettallurgy. Like the famous SAS motto, “Who Dares Wins”, Explaurum took on the challenge and has come up looking like a hero. At this stage, things are looking good and I hope they make it good. I love this kind of stories as I am championing exploration. Its where all the added value are found. The moral of this story is listen to good explorers, back companies that spend money in the ground, and companies that don’t pay their CEO $350,000, even if he is sitting on the drill rig, and doing the real geological stuff ( unless that guy is me….). There are no more easy fruits to pick, if someone is telling you that there is a project where you can easily go and mine it, think again. When I look at all these stories of successful exploration I admire and envy them as that is what this game is all about. Being associated with the teams that had the discovery of Bronzewing and Merlin Diamonds in the first 3 years of my dislocated geological career, I had got the bug since then… the discovery. One day it will happen… 🙂 These are the kinds of investments that I like, cheap and have the potential of finding something substantial and when that happens the magnitude of added value will be high. Imagine that CY5 makes a discovery ? This is practically a virgin goldfield to be discovered. Look at the Gold Road story…. The biggest problem with the industry at this point is that lack of support for real exploration and this shows when you look at the fund raising process. investors like to believe that it is easier to re start a mine than to explore for something new. Remember why the mine shut in the first place. If it could not survive last time, it will not now. The cost of mining is at today’s inflation rate and not back 20 years of whatever years ago. Till next time…. Note: I do not hold any shares in any of the companies mentioned at the time of writing. 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

Last week, my wife Sandra and I decided that we would go away for a few days.  The aim of the trip was to find a place that we can just do nothing.  There will be no visits to anything, no wineries, no galleries, no restaurants, no cafes…just accommodation and a good supermarket if required.  The only requirement was that the place had to be nice and comfortable and of course, plenty of nature (well at least some). The result of our search was the Eight Willows Retreat ….. It was fantastic.  We could not have hoped for the best place.  The room was top notch, the kitchen was clean and tidy and we used it for every meal of our trip. The bathroom was the same.  And the place was quiet and absolutely had no distraction. Not even a cafe. The photos of the room below are what we experienced. There was no photoshop happening. (sourced: ( https://www.eightwillowsretreat.com.au ). We wanted a place where we were able to just enjoy each others company and really have a break and we found it. When we arrived on Friday afternoon, we reminded ourselves that we will not go out unless we had to buy supplies.  So we settled down to opening some local wines that we had brought down from my collection. I brought down a Pierro 2005 Fire Gully Shiraz and a Capel Vale Regional Series 2009 Cabernet Sauvignon and the wife brought a dessert wine from the Wise Winery . With one of the most important requirements of comfortable and clean accommodation sorted out, we set out to settled ourselves and started the rest of the holiday.   The aim of this trip was one to enjoy the colder temperatures of the South West and we were not disappointed.  We would have loved a fireplace and that would have been perfect.  We had some very cold nights. When I was booking Eight Willows , I saw a comment and it said that we should visit the Bunbury Fresh Market on our way to buy our supplies. That was a fantastic stroke of luck as when I did stop to check it out, it was a nice surprise. This place is so well stocked and presented and well priced.  The way the whole place was set up just made you feel that you wanted to buy and things are so fresh.  I have driven past this place so many times and never thought about stopping.  It was always the rush to get to the destination. I think this will change now. On Saturday, the next morning was welcomed with a nice black coffee and some nice chilled morning air.  We walked around the place with the camera to get some photos of the native flowers around the accommodation.  Then it was back “home” for a nice warm hearty home cooked breakfast outside on the patio.  This was seriously paradise. No kids, No noise, No rush, No phone calls…just the nice chilly air and the warm wither sun. The rest of the morning we sat down and discussed life things such as family and business.  It just feels like when we are home, things are just doing and no thinking and planning. In some ways when I think back, the trip turned out to be a brainstorming session. Kind of felt like it was one of those company events I read about but never done… 🙂 After doing some work in the morning, we took a trip to Cawaramup to buy some nice ice cream and honey from Gourmet Food Merchant .  This has always been our favourite place to visit as they always have something you want to buy.  I must say that they have a great range of things.  I think most of the range is from the region and this is always the reason for us to visit.  One of the most interesting items that we have bought was from the Truffle Farm, a salt mixture with some truffle.  It is one of my favourite cooking items… 🙂  Spoken like a true convenient cook… 🙂 This is also the first time we took the time to walk around the town of Cawaramup, not that it takes a long time to walk around.  We found a nice place that sells teas and lots of other nice things. It’s like an interconnected shop called Seven Seas Teas .  Very friendly people and they have a good range of teas although we were not interested in the teas, we did end up buying a small pot.  It just gives us a place to walk around and have something to do.After loitering around the town, it was to off to Howard Park.  When we checked into Eight Willows, we were told that Howard Park will give us a bottle of wine if we joined their club.  This is a damn good reason to visit them… 🙂  This we did and we went away with some nice photos and a free bottle of red wine… I know… its the chinaman in me…..   Free is always good.  But we did buy a bottle of Mad Mish Moscato . Prior to picking up our free bottle, we stopped and took some photos. I have always wanted to take some photos of this bridge.  For some unknown reason, I always seem to feel that I had no time to stop for taking photos.  After hanging around Harward Park for a while, it was back home to some finger food and wine drinking. I even ignored a trip to the Grove Distillery which was literally just around the corner from us. The Sunday morning was again a morning of doing nothing but taking on the feeling of freedom and a protein fueled breakfast.  Again I spent more time working and Sandra was doing her knit work, we suddenly realised it was midday.  The problem was that we were not hungry. Determined not to fall into the trap of eating out, we decided to get some fresh air and then come back to Eight Willows before we were starving and will eat anything and everything. Fresh air meant a trip to the Margaret River Chocolate Factory for some free chocolates …again the chinaman ….. and a hot chocolate.  Sandra was commenting that I had been drinking a lot of coffee lately and that I should have something else.  Drinking tea was not going to help as tea has more caffeine than coffee, so hot chocolate it is for a change. Every time I visit this place I always want to take a photo of the Kangaroo Paws out the front.  In fact, I have been taking photos of the Kangaroo Paws since my first visit to this place in 1999.  Not sure why but it seems to be the something I wanted to do :-), must be the bright red colour.  Writing that has made me realise that I have been coming to Margaret River region for holidays since the early 1980s.  Seems to be my comfort place.. :-). After purchasing some chocolate buttons (70% Cocoa), we went back to our place for our version of “tapas” lunch and more wine drinking… 🙂  But seriously, it was a great time of talking, sharing ideas and just connecting without the hustle and bustle of a busy family life. As we were having so much fun, we decided to check if we could extend our stay. Thinking that since we have not seen many people the whole weekend, this is going to be a no-brainer.  To our surprise, the place was booked out !!!! Now that is a sign that this is a place to keep on my come again list. Although it was a disappointment it means we had a great time and this makes us want to come back again. This has been our kind of holiday, just not rushing around and just doing the simple things in life.  When we are doing our rushing around and trying to fit into a life that society seems to dictate, we forget the simple pleasure of just making a cup of coffee and talking to each other. Life is for living and having experiences that make a difference. Sometimes, these simple things add more value to our life than a very expensive item of material. Also check for:- Tungsten – The forgotten Critical Metal Story 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

Bombora is a fantastic story to showcase why we do mineral exploration…  The fact that the someone did the research, applied for the tenement, did the work and ultimately had success is the reason why I am sharing the story. The company involved is Breaker Resources Limited (ASX:BRB). I was reading the news with the headlines “ Breaker back in favour with Bombora gold bounce ” written by Stuart McKinnon .  Upon reading the article, I thought, this is an exciting project.  Hence, I continued spending more time reading it and I was right… it is a fascinating story. The Bombora gold projec t is  100km east of Kalgoorlie.  It is a large tenement holding, 550 km2,  and completely 100% owned by Breaker Resources (ASX: BRB). The cool part of this story is that it has been unexplored for the last 20 years and have had little historical exploration.  The best part of that is that it has only about 5-10m of cover. Over the last 10 years when I have been doing lots of project evaluation, I remember seeing so many projects with the same style. Those characteristics are not unique.  All they needed was some drilling but with the equity market the way it was during those times, they never made it. If you look at the state of the exploration market, there has not been any real exploration since probably the 1990s.  What exploration that did attract money found some great things but in general, there has been very little money going into the market.  However, I did see a lot of money starting to flow into the market in the last 12 months which is very encouraging. Mineral Exploration – The Historical Story On the 17th July 2015 ,  the company announced that the drilling at Lak Roe would commence. The main target was a 4km-long zone of supergene gold mineralisation defined by historical drilling as see in Figure 1 and Figure 2.  Eighty holes were to be drilled for a total of 3,200m.  The historical data consisted of drilling from 1991 to 1998. The maximum depth of mineralisation was within 30m.  Everything else was untested.  Drill chips from these drilling showed clear evidence of sulphide and carbonate alteration within the dolerite (— It is pretty amazing that this project lasted this long and has been ignored over all these years.   There would have been geologists and prospectors walking over these things and nobody had pushed for more work to be done.  And to top it all off, I believe that they picked this project up by applying for it, meaning it was basically free.—).  The was no drilling within the salt lake and the lake cover appeared to be thin as they could see outcrops within the lake to the immediate west of the dolerite. The aim of the drilling is to test any potential structural zones. In a layman’s explanation, the place where there is a weakness (lots of faulting/shearing) will lead to fluid movement and hence mineralisation.  I should have listened more when I was in university in those structural classes… On the 26th August 2015 , Breaker Resources announced that they had found a new Gold System at Lake Roe. The headline news was that they had found bedrock mineralisation (Figure 3).  This means for those who are not clear is that they have found mineralisation in the basement, basically where you want to find it. The comment by the Managing Director of Breaker Resources basically sums up the situation, “the drilling has exceeded all of our expectations. The coherence, grade and extent of mineralisation encountered in a reconnaissance drill program of this nature is unusal and indicates a potentially significant new gold system” Although at this stage I don’t think that anybody is talking about the future or possible future size (well, not formally anyway…) it could become in the future, no can deny that these are encouraging results.  Remember, there is not a resource definition in sight, no JORC (my SEA associate/investors, please take note), but these are super encouraging results.  Remember that it was this kind of persistent exploration that discovered many supersize deposits in the past. The announcement continues to describe that bedrock mineralisation is best developed over a 2km-long zone in an area of structural complexity to the south where it is open along strike.  it has an overall strike length of 5.5km (Figure 4; 8-m drill hole spacing).  Mineralisation is up to 300m wide and hosted by a dolerite unit up to 800m wide (Figure 5). Remember that the initial drilling program was just a look and test thought and the drilling was to “refusal” (basically meaning as far as the drill rig can go, which is usually on top of bedrock) The photos below are from that Phase 1 drilling program. Phase  1 means that there is a Phase 2.  Phase 1 was a test of the new found gold system.  Another 181 holes for just under 8,000m. Results 3.3m @ 3.48 g/t Au 15m @ 1.46 g/t Au 9m @ 1.63 g/t Au Alteration observed 30{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5} of drill holes end in +50ppb Au in relatively fresh rock with grades up to 12.87g/t At this stage, the Phase 2 results, I assume (and we all know what happens when you assume…) that the results would have been more than encouraging and there would probably be some sort of excitement that something big may be around…  I think to put myself in their shoes, I would be thinking what could I do to stuff this all up….. I would be more nervous than excited… 🙂 At this point, the systematic drilling that followed, as we know now, resulted in what is a rather large gold resource. The key point I am trying to make here is that without the drilling program that the management persisted with, there would be no discovery.  The initial work was in applying for the ground as vacant ground in 2014.  Upon grant, the company had progressed in one year, a project with very little historical drilling to a project with a future 1M ounce resource. Breaker Resources Limited listed on the ASX in 2012 and today in 2018, they are looking at a 1M+ ounce gold project within 60km of two mills and 100km from Kalgoorlie.  Now that is what I call a good job.  Looking at the presentation in July 2018, the market cap of the company was around AUD$38M,  I think at the time of writing the market cap was USD$41M. Figure 6 shows clearly the journey taken over the years and the highlights of each significant step taken.  You would think that at this stage of the resource drilling, this share price must be pretty much ready for revaluation.  I will point out that at this stage, I am not a shareholder of this company.  I will say that as I write and as I do my own research,  I am thinking hard about whether I should take a position or not. (Update: 10th September 2018, shares are up 5c as we publish) The overall grade may be low but if they can make money getting it out, it is still AUD1600 an ounce.  We are in Australia and in this part of the Goldfields, I don’t think we will see too many issues with things such as unpronounceable bats, or bees or yellow flowers…etc. However, I do worry about the fact that the resource is at a grade of 1.6g/ t.  I do keep reminding me that Millennium Minerals Limited had very low grade too and they got that to work. Although, I do wonder if all the investors ended up making money over all those years … :-). The super pit is also at the very low grade end but that is a very very big hole in the ground. In the back of my mind, I keep hearing this very important quote ” Grade is King…Grade is King…”  This does worry me but at this point in time, I will say that there is still plenty of time to solve that “issue”.  I don’t mean that it will get better but I think if they can pay themselves into the higher grades and chase those underground grades, it would be a good story.  After all, its all about cost per vertical metre.  Just like selling noodles… I learned a lot when I was with Silverlake Resources .  Listening to the miner’s talk was a good education and I will not say that I know enough to run a mining project. What I learned did give me a good appreciation of what needs to be done, what is required and what is most likely to work or not. As you can see in Figure 7, the location of the project is in good company when it comes to the gold endowment.  In fact, one of my favourite spots in the Kalgoorlie area is the Kurnalpi and the Mount Monger-Randalls district.  Although I think the later is now pretty much taken up by the Silverlake people. ———————————————————————– This reminds me of another place that had bedrock mineralisation and was given up because the directors of the company did not follow through (lack of funds). Now if given a second go with some money for drilling, I am sure they would give it a good go with some drilling. However, that seem unlikely so hopefully one day, someone will find their glory there and make history. ———————————————————————– One of the interesting fact that I like cautiously, is the length of the strike.  Like a rather smart person who used to work with WMC once said, think of an upside-down lightning.  Mineralisation flow to point of least resistance.  Although a large strike is good, I do sometimes think that if it was smaller, then the mineralisation may be more concentrated and not so spread out. Of course, you could also say that if you had a big lightning, then you could have a very concentrated large strike. I agree with that statement also, however, 1M ounces in one spot is a lot easier and cheaper to mine than a large area… 🙂 Another potential issue could be with the fact that 58{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5} of the resource in the Indicated range. This will mean more drilling and how long that takes will be interesting.  There is definitely a bear in the gold price and how long that bear hangs around may affect the journey.  Mind you with the strengthening of the USD, this could help the gold price. However, if this bear takes the gold price near to that USD$1,000 mark like back in 2014, it would certainly make things interesting when they have to raise money.  Market sentiment seems to follow the USD pricing. Silly as it may seem, but the market seems to do that historically. I know I have mentioned this already but this low-grade thing is important in a bear market. I understand that these days anything above 1g/t is considered good.   Some will point out that there is the large proportion that is of a higher grade, but I only see the global resource grade.  However, I do want to make it clear that I am not negative on the resource.  I am just trying to give a balanced point of view :-). As for the Bell Porter report and all the broker reports that have come up. I treat them with the amount of salt as those that you may find in Lake Roe.  It is a salt lake right ?… if not then the meaning is lost. Like those reports in 2000,  I remember lots of reports telling us how much things such as One Tel would be worth….etc 🙂 That was just me doing a bitch session… 🙂  I am entitled to do that as I am the author….. 🙂 Basically, my experience is that if the margin works during mining, the rest is just administration purpose.  The key is in the simple business of selling your product for a profit. If you can do that, you will be ok. The exploration upside will be the icing on a very tasty cake when the time comes to converting exploration targets into resources and reserves.  I have seen several companies do that and this is what drilling will do for the health of your project. For me, this journey is all about the process of exploration and the excitement of finding it.  Once that is done, the rest is pretty boring.  Important but boring. Well, I hope you have read this far and I have added some value to 5 minutes of your life.  Thanks for reading and I hope you will be around for the next journey. Unless stated, all information is taken from presentation and announcements from www.breakerresources.com.au 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

A lack of Dementia Awareness in our society is not helping to detect one of the most devastating diseases.  There is a misunderstanding that dementia is all about memory loss.  It is discerning to learn that the average Joe in the street does not know what is dementia. Dementia can strike anyone, and there are so many types of dementia. Research shows that there will be over 65 M people in the world with have dementia by 2030.  This number is expected to increase to 100M by 2050. The Myth Dementia is not a part of Alzheimer’s disease. In actual fact,  it is the opposite, Alzheimer’s disease is a type of Dementia. What is Dementia? According to Dementia Australia , Dementia describes a collection of symptoms that are caused by disorders affecting the brain. It is not one specific disease. Dementia affects thinking, behaviour and the ability to perform everyday tasks. Brain function is affected enough to interfere with the person’s normal social or working life. Types of Dementia According to Dementia Australia, Dementia is the umbrella term for a number of neurological conditions, of which the major symptom includes a global decline in brain function. It is a condition that has been noted in people for hundreds of years. Dementia was a relatively rare occurrence before the 20th century as fewer people lived to old age in pre-industrial society. It was only in the mid 1970s that dementia began to be described as we know it today. We now know dementia is a disease symptom and not a normal part of ageing. There are over 100 diseases that may cause dementia. The most common causes of dementia include Alzheimer’s disease, vascular dementia and dementia with Lewy bodies. Alzheimer’s disease Vascular dementia Lewy Body disease Frontotemporal dementia Alcohol related dementia Down syndrome and Alzheimer’s disease HIV associated dementia Misunderstanding  Dementia As I mentioned above, most people, when asked what dementia is, would say memory loss. This thinking is common, and however as you can see from the definition above,  memory loss is just one small part. From my reading and speaking with some researchers in this field, they all agree that misunderstanding dementia will become a sociological problem for our society. As you can see in the Dementia Australia definition, this disease affects the thinking, the behaviour and ability to perform everyday tasks for the sufferers. The person’s typical social or working life is altered as the brain function is changed, and there is no mention of memory loss.  There are many cases of dementia where the person takes on another identity and leaves loved ones , wondering how they have been isolated in that person’s mind. Personal Experience My wife and I are a “carer” for my mother, who has these symptoms.  Memory loss is prevalent, and its the first thing you observe.  However, it’s the other parts that are hard to manage regarding, not understanding what a real situation is and what is not a real (made up in their mind) situation like did they eat that, take that, move that. What is done or spoken is real or made up? This one is tough because they are not telling untruths on purpose, it is just in their mind, and you have to figure out what is real and what is not valid. Managing the paranoia character? The accusation of anything you could think of and even the things you would never have thought you could ever be accused of in normal life 🙂 Patterned behaviour requirements. Using boxes of tissues in days because they need to wipe the plates and utensils that you are going to wash anyway, washing every item of clothing every day of the week, rain, hail or shine? 🙂 People with dementia symptoms are great pattern followers.   We are told to help create as many new things to do as possible. We are told to help the brain create new paths, to promote the brain do new things, and get out of the regular patterns in their mind. I feel that the best way is not to ask them what they want but to give them what is right for them.  I found that simple things such as asking what they want to eat or asking them if they’re going to do this or not, you are sure to get the same answer. What we did not notice. Looking back, I noticed the “weird” behaviour first but just thought that she was being difficult and being this and that… It was not until the memory issue became apparent that we started thinking about the possibility of dementia.  Again, we have fallen straight into the “misunderstanding dementia” syndrome. When we started reading more, we learned about the paranoia and the odd behaviour were caused by dementia. However, it never really became the light bulb moment until much later because we never really understood what we read. This moment is an awareness problem. I am saying that we thought the part where she was difficult, the annoying behaviours, the annoying things that she would say, was her being difficult.  We now realise that these were clear signs of symptoms already.  That was dementia. Family and friends need to understand and accept the way they are now. Sadly, this is not the case in many cases, as people tend to forget the human side of compassion.  I know that this may appear to be a very unfair statement in many cases but its the raw truth.  Dementia patients will be challenging socially, and they will cause your life severe problems. Care Providers (have to mention them…) The carers we have, from the Chung Hua Association , are the best.  All I can say about them is that they make our lives so much better.  And to top it all off, I see them treating my parents with the greatest of care and respect.  I understand that this care is also exceptional in the community centre as well, with the other aged people.  I have seen it with myself. Unfortunately, I can only vouch for the   Chung Hua Association as they are the only ones I have experienced firsthand. I am sure the other care providers are just as good.  I see lots of care providers around, and I am sure they provide exceptional care. My 5 minutes of Fame and Glory A few months ago, the Chung Hua Association ( Aged Care Providers) asked us to go and participate in a survey. Unknowingly we were the centre of attention with The Australian, The ABC and the WA Miniter for the Age Care, Mr Ken Wyatt being there to talk/interview us.  The National Health and Medical Research Council (NHMRC) National Institute for Dementia Research (NNIDR) was making a short video for Dementia awareness, and we were one of the candidates .  I  did not realise that we were the only person who turned up and so we were the single target for all the guests, the VIP guests, and all the media. We also met with Dr Bianca Brijnath and Nick Lee ( both from the National Aging Research Institute) who were doing this project (called Moving Pictures). We learned a lot from speaking to Nick later on in regards to similar behaviour from dementia patients.  It was Nick who talked about needing to give them more pathways, as in disrupting their patterns to help their brains work better. Anyway, we made all these comments to these people.  What surprised me was that everyone was taken back by what we had to say.  I never realised that the lack of awareness was so extensive. I think even Minister Ken Wyatt, was enlightened by our comments.  The whole idea was that we would help make a video.  The video will be distributed to non-English speaking families and friends to help recognise and eventually care for those affected by dementia. The 5 minutes of fame included being written up in the news and being shown on ABC TV. Read the ABC article Read The Australian article. I have included the ABC news segment.  The quality is not the best but its the best I could do 🙂 Something interesting I found this youtube video that I thought I will share.  It is an app that was created to show the world through the eyes of someone with Dementia.  It was created by  AlzheimersResearch UK Read the comments. It is interesting because it gives a sense of what the level and type of care expectations.  The couple is from a loving partner perspective and the character Joe is obviously from another level.  This is what happens when you need care… How we manage our world with Dementia. I will make it implicitly clear at the onset that the following is something that works for us.  There is no argument that every situation is different.  However, I would like to think that the basic principles that I am sharing, will be helpful to other people who are in the same position as Sandra and I. The key for me being in a dementia environment is to make yourself understand that the things that they do are not typical.  Now, this is one of the hardest things to do as it is very reasonable for us humans to react on impulse. We get emotional, and we become sentimental.  Unfortunately, in my opinion, that will make the situation worse.  Ignoring the need to treat them as anything other than being different will detract us from treating them with respect and dignity. I do believe that this is not easy.  Only people who are not in this environment will say otherwise. I have a friend who describes all the same symptoms in her mother. He describes the same “crazy stuff” that is common with dementia.  Generally, the patterns are very similar.  I am no expert in the dementia world, but I will say that every case is different.  Some are severe, and some are milder. The best things to do – what works for us Acceptance and Patience.  We are learning just to let her be who she wants to be in her world.  Again, this is not easy. It is from lots of frustrations, anger and total frustration that has taught us to look at the issue.  However, we have to treat her as she treated us when we were annoying babies, not being able to feed ourselves nor clean ourselves.  This act, I will admit, is a difficult thing to master.  However, as soon as we did that, it became easier for us to deal with the “issues”.  I will say that this is an ongoing learning experience and we are by no means saying that we are saintly and perfect… 🙂 In our case, my parents have been together for 50yrs+, and as far back as I can remember, they were a do everything together couple.  Hence, my mother is the one who cares and does everything so in her old age; she still looks to do that.  In my mother’s case, she still sees that as her role. When this role is replaced (even partly), the defensive nature of the human being (remember at this stage, the person is in and out of “sanity”) comes out.  So it is tough to understand the real reason for that “weird” reaction. The hard part is that the truth is intermingled with the half-truths and the nontruths. So this mix is challenging. The way we manage is to filter what is necessary so that we can try to find the truth. Those thoughts that we filter as “not important”, We agree with them and ignore. In summary, what works for us is learning to have more patience (more than you ever thought you could have) and ignoring the “annoying” ways.   Ignoring these “annoying” behaviours is an ongoing learning experience for us… :-).  As I have mentioned earlier, the best approach is to do what is right for them and not let them do what they want. Their need to do things that do not make sense will drive the average person bonkers… 🙂 We are lucky… We draw on conversations between friends and associates, and readings from the internet to try and make sense. In our case, I feel that the fact that they are still a couple does shield us from more issues.  My father, who has no dementia symptoms, but has mild Parkinson’s, shield us from those behaviours as he is her source of conversation. In many cases, when there is a single surviving parent, and they have dementia symptoms, I believe that it is more complicated. What’s Happening Now. Just this week, I received an email from the National Health and Medical Research Council (NHMRC) National Institute for Dementia Research (NNIDR). The NHMRC was inviting  expressions of interest  from people living with dementia and carers/former carers of people living with dementia to be on their  Consumer and Community Involvement Program Reference Group. I gladly volunteered to see if they would accept me into the Reference Group.  I wanted to join because I feel that it is an excellent way for me to give back to society. — In fact, this prompted me to write this blog as I have the intention to do this for a while now.— The primary purpose for me wanting to join the Reference Group is so that I could give them time and share my exposure to an unfortunate process of growing old.  In truth, there is no possible way for us to improve old respectfully nor in any acceptable, respectful way.  However, a better understanding of what happens to us at that stage of our lives may help the people who will eventually care for us.  I am speaking of the carers that will be the people who will help us finish our life in this world, whoever that may be… HOPEFULLY…. Please feel free to contact me with any comments or questions. I have included lots of links to people and organisations, so they are probably going to know more than me.  I would think that people such as Dr Bianca Brijnath and Nick Lee would be the best point of contact, so I am happy to pass your details and questions to them. To conclude this blog, I want to leave with this perfect message made by Alzheimer’s Research UK I think it is a good message to think about… To end this on a positive note, I found a CNN documentary regarding a village in the Netherlands for people with dementia. source: New film project to raise dementia awareness in migrant communities , by  Nicolas Perpitch https://www.nhmrc.gov.au/research/boosting-dementia-research-initiative/nhmrc-national-institute-dementia-research-nnidr https://www.theaustralian.com.au/national-affairs/health/language-barrier-an-added-problem-for-families-dealing-with-dementia/news-story/af4b524e1a192fd34766cb91061c3a9a Feature photo Also, Check for: –   Best way to find a Gold Mine : A Mineral Exploration Success 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 2016, I started telling people to be excited about Nickel stocks.  First of all, they should start looking at the best Nickel stocks that are unloved now and awaiting a Happy Ending.   The LME (London Metals Exchange) started to show a decreasing warehouse stock level.  Also, the nickel price looked like it was bottoming out.  Most noteworthy, it gave me the impression that the declining curve had taken a slight deviation.  Consequently, the interest for Nickel is now a matter of history thanks to the Cobalt bull run.  In addition, the word was out that the Li-Battery needed more nickel than cobalt …etc  Oh yes,  and suddenly every nickel projects became Ni-Co projects… 🙂 My Thoughts However, my optimism is more related to the whole base metal market rather than just Nickel.  In my opinion, we have just come off one of the worst commodity crises.  So I felt with that prolonged downturn, it cleared out a lot of underperformance.  This normally meant that productivity will slowly set in for the long run.  Certainly a shallower but definitely longer wavelength of growth. Industry people tell me that there is currently about 25 weeks of surplus on the LME.  The stockpile, and according to the industry,  needs to come down to within 10 weeks and that will start to move the price. In regards to the supply issue, the general consensus from industry people is that the supply crunch will come in 2 years time.  This is the kind of timeline that the current producers and near-producers are aiming for their projects to be at maturity.  Companies such as Panoramic Resources Limited are now restarting their  Savannah Underground Nickel Mine in the East Kimberley, Western Australia. So I am guessing that the journey has begun. It is because of this factor that I like some of the lower ranks… The unloved or unknown stocks.  So I came up with the 4 Best that I like. I was going to do 5, but I got lazy… 🙂 Panoramic Resources is a company that I tag as a Valued proposition.  They are miners.  There are the Western Metals, Mincor, Norlisk, BHP, Eramet…. etc. These companies are not what I think are the unloved/unknown stocks.  I am not saying that they are of no good, in fact, I think they are very worth looking at as when things kick on, they are going to be money earners for everyone. I just bought some Western Metals… hopefully, that is a good move :-). No.1 – Legend Mining Limited (ASX: LEG) Legend Mining has come on the scene with the Rockford project, located in the Fraser Range province of Western Australia.  The project is a joint venture between Legend (70%) and Creasy Group (30%) with Legend being the operator.  The concept is to find a Nova-Bollinger style nickel-copper and Tropicana gold mineralisation. The project is has a large tenure. In fact, a total of 12 contiguous Exploration Licences covering 2,792km2.  It is 120km northeast of the Nova-Bollinger nickel-copper deposit, owned by Independence Group NL . As you can see in the diagram below, it lies along the strike of the large Gravity anomaly that house the Nova-Bollinger nickel-copper deposit. Nickel exploration is not easy and finding that Ni-S body is a lot harder than your typical gold deposit.  As a geologist who has limited nickel exploration, I have been told by good authority that finding a Ni-S body is very hard.  However, with the new technological advances in geophysical tools, it is easier now than before. As I am told. The diagram below illustrates why this is a good story.  As you can see, there is good sized mineralisation grade complimenting a decent length of mineralisation.  Always good to see some meterage in your intercepts.  There is no doubt that this is a greenfield project but so was the Nova-Bollinger mine and DeGrussa.  In fact, so was many other projects. The exploration that has been done by Legend is proving that this is a relatively safe bet. Price Chart The price chart activity is certainly more active within the last 12 months. It’s obvious that the activities are clearly related to to the Rockford project.  A joint venture into one of Mark Creasy’s projects seems to be the flavour of the month.  Since cashing out from the Novo-Bollinger project (Sirus Resources LImited), Mr Creasy has had a few more wins so I will envisage that LEG will certainly be on many watch screens in the investing sector. The only disadvantage  I see is the Market Cap of AUD80M.  It is pretty high for an explorer. The most important concept to remember is that Mark Creasy has a 30% stake in the project and a 28% stake in Legend Mining Limited.  This is a Mark Creasy company and if they get a sniff of success, there will be no issue finding new money to continue. No. 2 –  Rox Resources Limited (ASX: RXL) Rox Resources Limited (RXL) is a very interesting company. AUD15M cash EV of 3M Market Cap of 15M. East Fisher Nickel Project – Mineral Resource of 2Mt @2.5% Ni for 50,600 tonnes contained nickel. Mt Fisher Gold Project – Mineral Resource of 973,000T @ 2.75 g/t for 86,000 oz contained gold. (To be divested into another new IPO in 2018/2019). Collurabie Nickel Project – Inferred Resource of 573,000T @ 1.63% Ni, 1.19% Cu, 0.082% Co, 0.85 g/t Pt, 1.49% g/t Palladium. The East Fisher project was discovered in 2012.  In fact, I reviewed the project and wanted to put in a bid to buy it for my previous life.  Originally, this is a gold project and I felt that there were limits to the project.  I still think that is the case.  The location is pretty remote and you would need to find a lot more to make the gold work.  What I did not expect was the discovery of the nickel in the project.  This I feel will make a difference.  The discovery of the nickel is a game changer for RXL and I hope they can make this work.  In addition, with the addition of Collurabie Nickel Project, this company could provide a few surprises. I am surprised that with the discovery, things have not really happened for RXL in the share price department.  I was a shareholder a few years ago and sold out making some coin but it seemd to have stayed pretty much stagnant since that time. The photos above are some samples from East Fisher. I spoke to Ian Mulholland about the prospectivity and he explained that the ore bodies are still open and there many upsides to the story.  The good part of these deposits is that they are shallow and within 70km from the nearest mill. Collurabie is further east but when you look at the final picture, I think this is a workable project.  There are definitely some negatives, but they have the money to do the work required. The mineralisation from a geologist point of view is interesting. For me, at this stage, I am enjoying the whole geological story.  I wished I was this studious when I was doing the geological degree. Price Chart If the nickel price does head north, this will give RXL a lot of room to move.  However, the 5-year chart below shows that there is a disparity between what the potential of the company and what the market values it. This is one of those issues when a company has legacy issues and the market just does not like you. Looking at the stock, there are about 1.3B shares and that does scare some real investors away.  The stock has traded in a downward trend for too many years for a company with AUD15M in the bank.  Just does not make sense. I think they need some chinamen in there to stir the pot… 🙂  Only a chinaman can make leftovers a staple dish… Fried Rice… Long soup…Short soup… No. 3 – Talisman Mining Limited (ASX: TLM) Talisman Mining Limited (TLM) is another company that I feel is worth a good read.  They had the tenement adjacent to Sansdfire Resources Limited and when they announced the discovery of the DeGrussa deposit , and TLM share price went flying.  The management comes from good history, ex Jubilee Mines NL. If I am correct, Jubilee Mines sparked off the last run of nickel discovery in the early 2000s. The industry was having a hangover from the 1999 disaster, and the discovery of nickel was sparking the workflow. After the discovery of DeGrussa, TLM worked on their Springfield project (the one adjacent to DeGrussa) and discovered the Monty Copper Mine.  As I write, they have recently announced that they have sold that project for $AUD70M + to Sandfire with extras. So for a small company, that is a good result.  As you can see in the price chart below, it is not a bad investment/punt for the investor. The discovery of Monty would make a good read too. Maybe I will see if I can do something about that in the future. The Sinclair Nickel Project This is located in the famous Agnew-Wiluna Greenstone belt.  Probably the best known world-class district for Ni mineralisation.  It is a historic mine. It has produced 1.58Mt @2.44% nickel for 38,599t of nickel from 2008 to 2013.  The site has all the infrastructure for a working mine and has been under care and maintenance since the downturn of the nickel price. I am no expert in Nickel but my understanding is that as these lodes are very small but have high grades, so the chances of finding more are very high.  Look at the Kambalda nickel mines.  They have been producing for decades. Assuming that the management is not planning to mine the market and are really making an effort to make this work, I would bet money on finding more workable lodes of nickel sulphides. What I do know about nickel sulphides is that they are damn hard to find.  As a result, when you do find them, they tend to be something that can work.  Consequently, from an exploration point of view, I would say that I will rather be exploring at a place where there is much smoke and have been known to be flammable.  Furthermore, always remember that they are in a well know nickel province. I know I sound like I am repeating myself,  the reason I like Talisman very much now is that they are going to have a heap of cash and they have good ground to drill. To top it all off, there is a great chance that the nickel price will go up. Looks like a good combination to me. From the last published presentation, I like the look of their interpretation,  strike extension and the grades look very consistent. No. 4 – Poseidon Nickel Limited (ASX: POS) Poseidon Nickel is something of an oddball.  I actually know very little but the latest corporate moves make me think that I am missing something.  I know what they have technically.  How anyone would want to pump lots of money into the company makes me think that there is something that I have not understood.  Most importantly, I know that they a very high-grade Nickel mine, Silver Swan which is within the Black Swan Project. Price Chart Looking at the price chart, there is nothing there that will excite most people.  For instance, the lack of spikes and I mean noticeable spikes is boring.  However, I do know that there are a lot of big wigs in this stock. So if there are corporate moves, one must take note and start asking questions.  The latest manoeuvring corporately makes me more than interested. Black Swan The project is 600km east of Perth and 50km northeast of Kalgoorlie, Western Australia.  There are three components to the project, Black Swan open pit Silver Swan underground mine. Black Swan sulphide concentrator (2.15Mtpa) and supporting infrastructure. The Black Swan deposit contains serpentine ore (0.74% Ni) and talc carbonate ore (0.72%). The Silver Swan underground mine contains 147,000T @ 11.48% Ni for 17,000T  contained Ni What’s Happening with the Project First of all, as I have mentioned, there was a flurry of activities the last few months culminating in the latest scenario. There had been many talks in the street that something was happening and as a result, I have sort of kept abreast on the goings of POS.  Not diligently but it was in mind.  The result was the resulting capital raising that made headlines .  The latest fundraising is apparently going into the restart of  Silver Swan and Black Swan.  There are also talks about exploration drilling in several of their prospects.  The good news is that I am bullish on the nickel price.  Companies like POS will be in the box seat with a rising Nickel price. They have the infrastructure and the mines.  Their pricing is unloved and this is why they are on my list of things to watch. They have a Market Cap of AUD100M and I guess for a miner, that is not too high. Share price sucks but if they can make Silver Swan work again, then things may change. Finally, I  recently saw an article by   SmallCaps , regarding the exploration of the Abi Rose high-grade nickel discovery  that made a good read. 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 came across Pointerra Limited (ASX:3DP) in late 2015 when the company was trying to list on the ASX through an RTO (Reverse Takeover). The business is a platform that stores and allow utilisation of 3D data over the internet. The platform also allows 3D data visualisation for users.  In my opinion, it is the only and best 3D company on the ASX. To simplify the story, currently, there is no easy way to handle 3D data due to the large file sizes. The complexity of 3D data has always been an issue for users wanting a cloud experience. Pointerra’s technology allows users to use their real-time dynamic web viewing tools for simple access to their data from any device in any location. Users retain control over their data with the ability to make it public or to monetise for themselves through Pointerra’s secure transaction system. How Does the Business work? It’s quite simple.  The business deals with 3D data instead of the flatter 2D format structure.  In another past life, I was heavily involved in asset management for most of the major local governments in Perth, Western Australia.  So I am very comfortable with what the company is trying to achieve.  In those days, early 2000, the applications for 3D data today was virtually non-existent, and if it were, it was definitely in its infancy stage. Today we have AR (Augmented Reality) and AI (Artifical Intelligence), and companies such as Google now want to use 3D data to complement the Google map experience.  Have a look at the news on Google Earth .  There are companies all over the place now that deal only in 3D data.  It is no longer something that is a futuristic application. If you look at the businesses such as Tensor Flight , you cannot help but think that the 3D data world is only just starting. When you have 3D data to millimetre precision, you can do a lot with the information.  You are talking about survey quality datasets.  As a geologist, when we were using handheld GPS in the field, we were looking at 1-2m errors.  These days, the handhelds are doing centimetres to millimetres, depending on coverage and allowing for correction.  What this means for the geologist is that we do not need to send surveyors out into the field and hence saving money. In the world of engineering, it started with manual labour using laser scanners to capture the 3D information.  Now we have drones and Google.  Companies such as Rio Tinto now consistently updates their 3D data for its internal uses.  When Google collects data for its purposes such as Google maps, they collect 3D datasets as well. The 3D datasets were not well used because no technology was able to handle the logistics.  This missing technology is where Pointerra comes into the picture. When you look at Figure 1, it is a very simple Business Model.  Data is captured or given, uploaded into the system (cloud-based), and you use it.  The user has the choice of using the dataset for its use and also the option to sell that dataset to its customers. How Does it Work, Who uses 3D data? Everyone.  That may seem unlikely to the everyday person, but I keep coming back to this digital world.  What people need to understand is that when they look with their eyes, they see everything in 3D.  That is how our brain works instinctively. When we look at a 2D map, we have to make an effort to process what we see which means that it is easier for a human to interpret 3D view than that of a 2D format. Hence, the digital life that we are going to live in will need 3D data.  Whatever we use to view it will need to be allowed to process and visualise this information smoothly and seamlessly.  The system will need to be able to be used anywhere and on mobile devices. Therefore, if you understand the uses of high-resolution aerial photography and tools such as google maps, you will be excited about the endless possibilities of 3D information.  There are two main parts to this understanding, Storage The user’s visualisation of the data. The capturing of the data is the simple part. Business Model In Figure 2, you can see that entire business and potential income streams for the company.  Just so that I put the potential into context, construction of a building, or a refinery or a bridge will be so much easier to visualise in 3D.  Like when high-resolution photography came into play, it was terrific. For example, when I was using the high-resolution photography for collecting information for asset management. I could see the paving tiles enough to measure it. When you use 3D data, it is not just the visualisation; it’s the ability to calculate things on an engineering accuracy scale. Pointerra claims that they can provide users with the ability to do all these things.  Think of the utility companies and the miners such as Rio Tinto and BHPs of this world doing the uncrewed dump trucks and trains.  They would need to know in 3D, every millimetre of any scenario of their working environment. What is the Technology? I will declare at the outset that the detailed understand of the technology to me is unfortunately not my strength. What I do know is that there seem to be a lot of people out there that understand it and are making enterprise agreements with the company.  Autodesk is one of them and that, to me, speaks volume in this part of the industry.  A giant like Autodesk is a fantastic endorsement.  Pointerra’s patent-pending technology is best summarised in Figure 3, outlining the multiple facets of how things work. What’s the Attraction? If you believe the sales pitch that Pointerra is telling the investor world that there are no competitors out in the marketplace, you will start to see the myriad of income streams (Figure 4). As we continue to live in a world of AR and AI, you can imagine that the use of 3D applications will have no end.  With the onset of 5G, the use of large data format will become more accessible and more widespread.  For example, take the virtual shopping of Alibaba, the use of AR to showcase engineering products such as shipbuilding, large infrastructure projects such as railways, construction of power grids, the study of sun shadows for large urban developments… etc. All of these will require the precision survey and the use of 3D data in applications will be the norm rather than the exception. It is a bit bewildering to think that there is an endless use for 3D data.  From a geographical, technical background, I understand that the use of mapping is critical in everyday use.  The commercial world needs to understand maps to make money. Think about how Uber is to survive if they don’t have a master on maps.  How would companies such as Westfields decide where to put their shopping centre and what content will they need in those centres without maps to tell them population densities, spending habits, age distributions etc. In the City of South Perth, they are running a driverless bus.  You would wonder how does that bus know where to go, how to go…etc without the third dimension information.  In my opinion, the use of 3D data is now just being  accessed by users. Figure 5 below gives a general understanding of some near-term application for the products that Pointerra can provide at the moment. The People I remember when I was at the launch of the RTO, I was listening to the presentation and I was immediately impressed with the fact that the core people are all in the industry. If you look at the team behind the company, they are the people who helped Rio Tinto build the technology to be able to drive a dump truck remotely.  They were involved in the technology to capture and apply 3D data in pit surveys.  Just remember that to have a truck drive uncrewed, you need exact data.  Now if you are a company that lives in this world, you want your team to be vested in the business.  The founders of the company are part of the main shareholding. To me, this is critical.  If you have the best technology and the people working it has no interest in the well-being of the company, you will have a problem. What is in it for the Investor? The investor is only really interested in the capital growth of the company.  The capital growth of the share price is the only requirement for all things commercial, $$$. As of the 28th September 2018, the share price of the company is not too far from my exit in the stock 18 months ago.  It went for a rally in late 2017 on the back of the announcement of the Autodesk relationship, but it has since dived (Figure 6).  However, I believe that the new reports on the new income stream have put the company on a good momentum upwards. I re-entered the stock late 2017 after the announcement of Autodesk as I felt this was a journey in the right direction.  Unfortunately, the decline has meant that I have been averaging down :-).  I will say that this is a stock that, fortunately, or unfortunately (time will tell), I believe the darn story.  Having been in the mapping industry for the last 25years + as a geologist and a local government consultant in asset management, I can see the potential of the business.  I was a big user of GIS (Geographical Information Systems), so I appreciate digital maps and the wonder of seeing things in 3 dimensions. Peer Comparisons At these prices, the Market Cap of the company is around the AUD20M mark.  If you look at the closest comparison on the market, Nearmap , you have to wonder if there is a lot more growth.  The last time I looked at the Market Cap of Nearmap, it was almost 800M.  It may be of interest to people that Robert Newman, who is the Managing Director and CEO of Nearmaps, is also a Non-Executive Director of Pointerra.  If you want a vote of confidence on the business, that has got to be one.  Remember that Nearmaps was once at these early stages. When I look at Nearmaps and what they are doing, I cannot help myself to think that the flat structure (2D data) cannot compare with what Pointerra is offering. The difference is market awareness and proof of concept.  Nearmap has a great product, and they are doing well, and I think the high-resolution game has a market. Pointerra will be valued at those levels when the proof of commercialisation begins to filter in from the marketplace.  The last few announcements are already giving some signs, so fingers crossed. Another thing, I don’t think Nearmap has made any money yet, and they have a Market Cap of 800M.  Think about that concept.  A few months ago, Nearmap raised AUD$70M at AUD$1.70. My Concerns The company does not get this message out to the commercial world. They run out of money before delivering the message.  A capital raise at these prices again would not be good for the existing shareholding. With such a great story, why are there not more buying into the stock? In their latest Annual Reports, a few Non-Executive Directors are being paid a decent salary- from a chainaman standard; the amount is decent  :-).From experience, many NEDs don’t do anything and are handsomely paid that would add to the cost of doing business.  However, if they are doing things, then that is a different story. Conclusion Pointerra, in my opinion, is going to be a great story. The technology is fantastic and assuming that they can fend off any competition, this will be a tremendous journey. Think about what it means to be able to have precision 3D data that is available to everyone. If you appreciate the use of 2D maps such as those that are being used in Google Maps and used by Nearmaps, what could the possibilities be with one extra dimension? I hope you appreciate my thoughts and enjoy the read. Samso Declaration I am currently a shareholder of Pointerra (ASX:3DP) The purpose of this piece of writing is not to sell Pointerra shares. I have not been paid by anyone to write this article. It is also not to convince the reader to buy the shares. I just thought it is an excellent story to share. Samso is all about sharing thoughts and ideas. NOTE:  The information contained in this article is general information only. Any advice is just general advice. Neither your objectives, financial situation or needs are taken into consideration. You should consider how appropriate the information (if any) is to those objectives, financial condition and requirements, before acting on the advice. Conflict of Interest Notice SamsoPty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios. Any choice to purchase this stock should be made so after the purchaser has made their inquiries as to the validity of any information in this article. Publishers Notice The information contained in this article is current at the finalised date. The information provided in this article is based on sources reasonably considered to be reliable by Samso Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by Samso Pty Ltd. Also Check For:- Possibly the Best Copper Stock on the ASX : Castillo Copper (ASX:CCZ) 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

Recently, I have been looking at renewable energy  applications, especially solar energy.  I wondered what is the cost of applying solutions such as those large solar power farms ? Does it affect the environment, does it alter the climate? I know it sounds strange but like all physical matters, there is always a cost of doing business. Solar energy which is the most common of the renewable space is now the norm when talking about non fossil fuel applications.  Wind power generation is the next biggest and is also very significant part of the renewable space especially in Europe. Has anyone thought about the possibility of all these changes to the natural equilibrium with habitat changes and land uses that may affect the  ecosystem?  Could we alter the climate that we are trying to save? The Renewable Infrastructure. Currently we have the following items that help us become green, Solar – solar farms are today growing rapidly and they are growing larger in size. Some of these farms can power up to 200,000 homes. Wind – Wind farms are now slowlly taking a larger role however, I do think that the visual impact and thier inefficiency may limit their purpose in the future. Hydro – This is old technology and it has a great impact on the environment and society. However, it si better than buring coal, or is it? Wave – A very new technology and the real impact is still unknown. There is a fifth component to that list which I consider is green but the general public would not consider it as a green alternative.  That fifth element is Nuclear.   In 2009,  I found information showing that nuclear power has less carbon impact than any know “green” alternative power generation.  However, at the 2019 International Business Conferrence, I heard a talk mentioned that that is no longer the case.  There is now evedecnce that solar power is getting more efficent and cheaper which is why the use of solar power is growing in popularity. Footprint – Significant or Not ? According to a report entitled “Understanding future emissions from low-carbon power systems by integration of life-cycle assessment and integrated energy modelling” , which I found on www.nature.com ,  the conclusion was that it is not significant unless you talking about Hydro… 🙂 We find that cumulative emissions attributable to upscaling low-carbon power other than hydropower are small compared with direct sectoral fossil fuel emissions and the total carbon budget. Fully considering life-cycle greenhouse gas emissions has only modest effects on the scale and structure of power production in cost-optimal mitigation scenarios. The study took into consideration emmissions including from manufacture, construction and fuel supply.  The study also included nuclear energy.  It is obvious that fossil fuels are the main bad energy source, but comparatively, the use of Hydro and Bioenergy are also considered bad. For a climate protection scenario, we project life-cycle emissions from fossil fuel carbon capture and sequestration plants of 78–110gCO2eq kWh−1, compared with 3.5–12gCO2eq kWh−1 for nuclear, wind and solar power for 2050. Life-cycle emissions from hydropower and bioenergy are substantial (∼ 100 gCO2eq kWh−1), but highly uncertain. What surprised me was the significant differentce between, nuclear,wind and solar and that of hydropower and bioenergy. It one thing to say the economic efficientcy of the different power generation types, but I do think that the impact will be on the footprint. The argument against not having a mine operation becasue it harms the environment when you look at farming is one that I find facinating.  The footprint of a typical mining operation makes is insignificant when compared to farming.  This is the same when you look at solar or wind farms.  The lack of Carbon Debt? When people talk about the carbon debt between types of renewable energy, I think the article above see to be a good answer. However, I do feel that people need to look at the longer term ramification of having these large solar and wind farms.  The visual environmental impact needs to be considered.  Its fine if you have a Sahara desert or a Gobi desert to put these panels.  I would think that the large area that is required for these solar farms will cause damage to flora and fauna. In regards to wind energy, some of the wind turbines are huge.  According to a report by CNBC, GE is building a turbine that is over 260m tall.  It will have a capacity of 12 megawatts and 107m blades.  According to GE, they will spend over USD4ooM developing and building over the next 5 years.  The turbine will produce over 65GWh annually. That will power about 16,000 European households An article in www.sciencing.com published some very interesting facts, For example, environmental reports underestimated the number of desert tortoises that would be displaced by the Ivanpah Solar Generating System in California’s Mojave Desert. The same solar farm also came under scrutiny when an increasing number of bird deaths were reported on its premises. Many of their wings had been melted or burned off by heat from the solar farm’s mirrors. Being a geologist, we are always made to be the anti-environmentalist. When in fact,we are more protective of the environment.  I have always thought that a solar farm is like tree logging, or land farming.  You need to clear lots of land.  We all know that the ecosystem is one that works hand in hand with all species that exist, so if you take one out, you are going to have an issue.  A bit like losing an arm, or a kidney or a liver ?  Sounds all very environmentall difficult but even a geologist thinks there must be an alternative :-). I am not saying that we dont have these alternative energy sources but what I am saying is that maybe having solar farms is very primitive? Should we be looking at better ways to use these solutions. Clean energy changing Climate This leads to the most interesting article I have read which glued together my pontification over this subject.  The fact that a wind or solar farm could actually change the climate. The bad would be what we have just discussed, which is the habitat and wildlife issue.  But there is research going on now that is trying to see if having a solar farm would trigger climate change.  They are trying to discover if solar and wind farms may alter the movement of air to a degree that it could create more moisture and allow vegetation to grow where it was not possible.  The study is made over the Sahara desert. In principle, this area would be ideally placed to house such a project, as it is sparsely populated and well placed to supply the growing energy demands of Europe, Africa and the Middle East. The researchers found that, when installed on a large enough scale, both wind and solar infrastructure would trigger feedback loops that bring more rainfall and promote the growth of vegetation in the desert. In a region that is already feeling the effects of global warming as the Sahara desert creeps further into the fertile lands bordering it , the scientists say the net effect would be surprisingly positive. If readers think that this is something out of Star Trek movie, the attraction of turning the Sahara desert from a non productive patch of dirt into a ocean of solar panels or wind turbines will happen. It is in breed in the human species to be greedy to make that happen.  If that was to happen, the result of more rain, more green will happen. What we dont know is if that is a good thing or a bad thing.  No doubt, the positives is that this ocean of solar and wind energy will create so much cheap and useful power to the region. It will change the whole region to productivity that the world will need to feed ourselves. There is a few articles on the reasons why wind and solar farms can bring significant climates changes to the Sahara desert.  The one that I found had a clear explanation was that in www.theconversation.com . The Future? As technology becomes smarter and cheaper, there are now a series of panels that are made to line buildings in the big cities.  They are classed as smart windows which transfer the sunlight that shines on them to energy.  A company in Australia called ClearVue (ASX:CPV) has come up with a patented advanced glazing technology that sits within an activated interlayer sandwiched between two panes of glass.  This kind of stuff makes good sense and if commercialised, it will be a big money spinner. Through the combination of special compound materials, the interlayer prevents heat and unwanted solar radiation (UV or Infrared) from penetrating the glass pane. This energy is then redirected to the edge of the glass for controlled distribution and harvesting through conventional PV solar cells, whilst allowing the natural visible wavelength light to pass through largely unaltered. — ClearVue Limited (ASX:CPV) There is a video on their website that gives a good explanation of the technology. Another form of smart windows is one that is made of perovskites. Windows with this material allow windows to be clear on cold days but turns them dark in the hot summer sun.  Some groups have mentioned that they can harvest power like solar cells from the windows. Perovskites are materials made of a mix of elements with a particular crystalline structure, and solar cells made from them are nearly as efficient at converting sunlight to electricity as state-of-the-art silicon solar panels: The best ones convert more than 22 of the energy in sunlight to electricity, compared with 25 for silicon. By changing the perovskites’ elemental components, researchers can also control their transparency. What’s more, the starting materials for perovskites are far cheaper than existing solar cells. — www.sciencemag.org Recently, I have also been working on a wave technology concept.  It is still in the early stage of commercialisation testing but I can still see a pretty big footprint too.  It is smaller than the ones I have seen so at least that is working in the right direction.  I have no idea what the solution is but I am sure there are very smart people out there that will have an answer. Conclusion The journey to have a greener energy solution is something that I am in favour.  The reality is that the use fossil fuel will be around for probably two more generations and maybe more.  In my opinion, the uptake of renewable energy will only accelerate if ggovernmentsforce the population to do adopt the changes. For example, in UK and I suppose most of the advanced countries in Europe,  this is very evident and I can see some major changes. However, the point I am trying to highlight is that the human race is damn scared of being extinct.  The rush to be green is really driven by the material greed and not the need to be morally green.  History tells us that humans will eventually make a real mess of it because our so called “greenness” is rushed because we want the green bills.  That's why we continually look back in history and see all the things that we could or should have done better. source: All photos ar sourced from Bing. 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

A combination of sustained high economic growth, government support and financial incentives for new businesses, particularly in the technology sector, has attracted investors and technopreneurs to Asia and in particular, Southeast Asia (“SEA”). These businesses and start-ups generate demand for office spaces. Unsurprisingly, flexible workspace arrangements are favoured for businesses setting up new office locations in the region, where premier real estates in major cities typically command a high rental. Expanding Potential of Flexible Workspace in Asia The convenience of a fully-furnished flexible workspace leasing option can be a very attractive proposition. This is important in the early days of a business start-up or new regional office. Flexible workspaces allow the option to scale up when required.  This distinguishes themselves from traditional office spaces.  The flexible workspace industry in the Asia Pacific is expanding rapidly compared to the rest of the world. Flexible workspace providers in the SEA region are aggressively opening more sites.  They are leasing larger spaces and expanding their foothold.  From 2014 to 2017, flexible workspace inventory across the region recorded a compound annual growth rate of 35.7% in the Asia Pacific.  This is much higher than in the United States (25.7%) and Europe (21.6%) over the same period. The flexible workspace industry in SEA leased more than 8.0 million square feet in the last two years.  Local flexible workspace providers like JustCo, EV Hive and KMC Solutions accounted for more than half of the space leased by all such operators in 2017. KMC alone has more than 50% market share of the flexible workspace industry in the Philippines.  JustCo’s spaces are occupied by some of the region’s leading start-ups. The photos below are examples of what is available in Singapore, for example –  Office Hub  –  Club Co  –  The Working Capital  –   The Collective Works Increasing Trend with Supply of Flexible Workspace Jones Lang LaSalle (JLL) predicted that “the supply of flexible workspace is expected to grow in 2018 and beyond, thanks in part to the ambitions of major global and regional operators.”  Such findings are in line with Singapore-based flexible workspace operator, JustCo’s recent news, where it announced that it has signed an exclusive joint venture partnership with TICON, one of Thailand’s leading property owners and developers that is majority-owned by Frasers Property. JustCo is on a quest to “become the largest flexible workspace network in Asia by 2020.” The company’s ambitious plan is to open 100 centres over the next 2 years. Challenges of Flexible Workspaces One of the key challenges for operators in the Asia Pacific is that the office stock is controlled by a small number of landlords. For example, in the  United States, commercial holdings are much more dispersed.  In the Asia Pacific markets, a handful of landlords dominate the market.  What this means is that if a single landlord decides not to lease space to a particular operator, the impact to the operator will be significant.  This will leave the operator with very limited options to offer sufficient inventory to potential customers. It also means that property owners and developers have enough leverage to determine the scale of the flexible workspace market. Fortunately for operators in Asia, the flexible workspace is becoming an attractive option to those looking to create active, vibrant spaces where collaboration opportunities among tenants abound. Creating more Supply of  Flexible  Workspaces  Many are considering to develop these facilities on their own or in partnership with another operator” — as with the case between JustCo and TICON.  JustCo’s joint venture partnership with TICON will give it an edge and advantage over the competition. This provides them with the stock and first-mover advantage into an increasingly competitive market.  Yet in order to stay ahead of the game, they will need to move rapidly.  JLL predicts that “join ventures of management contracts between landlords and flexible workspace operators are likely to become more common.” Joint ventures are especially attractive for flexible workspace operators seeking to expand and for investors that are interested in entering the market.  JustCo’s strategic partnership will help the company leverage and tap a wider network of industries such as commercial real estate, retail, hospitality, food & beverage, and industrial customers. More photos of Flexible Workspaces in Singapore – The Hive –  The Great Room Mike Ghasemi is the founder and chief analyst of Mike Ghasemi Research Pte Ltd. He’s a retail and hospitality and travel industry futurist, analyzing trends and the use of emerging technologies to digitally transform organizations. Also Check for:-  Tungsten Power- A New Age Metal and The Next EV Story 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

Malaysian Artistic Talent with Soul and it’s Not 1MDB. Who would have thought I would say this…  You would not be wrong to feel that Malaysians are now more known for the 1MDB scandal than anything with soulful artistic talents.  My recent trip to Malaysia has surprisingly shown me that there is some real profound talent in the country. Skills that do not only involve gambling or multi-billion dollar scandals. The now famous  quote by the U.S. attorney-general, Jeff Sessions, “Jeff Sessions calls Malaysia’s 1MDB scandal ‘kleptocracy at its worst’ I am Australian with Malaysian heritage or more specifically, an  Australian Sarawakian ( from Sarawak, Malaysia ).  Some call me a Banana, which in some respect may be right.  There is no denying that we expat Malaysians are full of opinions and we all know how things should be done in Malaysia.  However, I have to say; it is very refreshing to finally see and understand the Malaysia that Malaysians love apart from food.  To finally realise what people have described being as the artistic flair of Malaysia. Maybe I am just becoming an old fart now and blossoming in my appreciation of art? Serena Chiam and Michael Teh – Gold Art Distributors My friend Michael Teh ( Aureo Gallery ) invited me to a charity event where a Korean artist, who mix 24-carat gold with oil and glue to create paintings, was displaying his collection for charity.  Michael had shown me this art late last year, and I have admired from afar since.  This time I was in the same room as the artist himself.  The only downside was that I never thought of getting a photo with the man himself… Micheal Teh and I met late last year when I was asked to meet a guy who was selling Gold Art.  We hit it off immediately as we discovered our passion for ASX mineral companies. Since I have been coming to the SE Asian region, there has not been one person who understood the small-cap resource sector this well.  This guy was a refreshing sight after so many years trying to entertain people in this region with small cap companies. Serena Chiam was the instigator of the distribution of this intriguing artwork.  As I believe,  Michael came into the partnership after buying some of the art pieces himself and becoming a fan of Kim Il Tae.  Serena and Michael are the primary distributors of the art by Kim IL Tae. Having met and spoken to Serena, this is the entrepreneur side of Malaysia.  Tatler Malaysia did an excellent piece on Serena and Aureo Gallery .  In fact, from this first meet, I felt that they were onto something.  Australians are art lovers, and I had a feeling, even at that stage, that this could be a good business. The only problem was that I don’t have the background.  Although, many characters in the mineral resource sector do like to dabble in these art pieces, especially with its association with gold. Doing it the Australian way 🙂 – We adopt everything good. I know the artist is a Korean and not a Malaysian but like good Australian spirit, I have envelope great things and make it Malaysian :-).  I have learnt well from being Australian.  We have claimed, Olivia Newton-John (actually English), Mel Gibson (Born in the USA and came to Australia when he was 12yrs old), Jimmy Barnes (He is Scottish), Keith Urban (New Zealand), Nicole Kidman (Born in Honolulu), Russell Crowe (New Zealand), Naomi Watts (England)…etc. Jokes aside, the entrepreneur spirit shown by Serena and her partners are what I believe is the Malaysian thing… Finding something that is not in vogue and taking it to the market. And the introduction of this kind of art is more than impressive. My inspiration for this blog. My invite to a charity event to raise money for an Autism Centre in the Malaysian state of Perlis was the highlight of my very long roadshow in Asia.  It was like the halfway mark, and we could relax and enjoy some rest and recreation.  To my surprise, I was mentally enlightened and inspired and decided that I must write something about the night and the people I met at the table. When I think of the works by Kim Il Tae, I think of Malaysia. Its kind of silly but the mind works with an association. I am sure that no one cares what my thoughts are but I think that speaks volumes of the work that Serena and Michael are doing.  One can see that there are significant synergies between all the partners.  As a geologist, I can appreciate what Kim Il Tae is trying to do, and as I have mentioned it many times, I am impressed. Kim Il Tae I am drawn to write about Kim Il Tae because his place in time now is a journey of inner self.  Like many people in this planet, the drive to realising one’s inner passion as an artist comes about after a period of submission.  Like many people, the realisation of this passion came later in his life.  The desire is what I call “The Journey”. Kim Il Tae (b. 1956) was born and raised in South Korea. He was good at art since he was a child but did not pursue an artistic career when he graduated from college. It was only in his late thirties that Kim Il Tae rekindled his passion for art when he enrolled at a university in San Francisco to study oil painting. At that time, he harboured a dream of becoming an international fine art artist, to represent an Asian name in the art world. What’s so Special about Kim Il Tae? I admire the passion for Kim to make a difference in the art world and make it unique with the skill to create and innovate.  He has created art that will test time and be as its pristine state even when generations have left this world.  I see his craft in the same light as the creators of IT and all the modern devices in this world or like Leonardo Da Vinci, Michelangelo, Claude Monet, Vincent Van Gogh and all the world-famous artist that have gone by over the years.  The creativity to make the best software, the best app is the same as what Kim Il Tae has done.  The skill required to create and persist on this path to the ultimate goal of acceptance is a testament to his genius. What I am most impressed is that this man sat down at some time and said, what can I do to make this different… What can I do that nobody has done… And then go and create it.  The thought process is no different from the likes of Bill Gates and Steve Jobs.  These two technological maestros have transformed our lives in the area of technology.  Similarly, Kim in time will be at those levels, if he is not already. The Beginning The story – The Journey. Liu Cheng Hua – Malaysia’s Future It was also at this event that I met my first Malaysian artist.  I was seated next to a guy called Liu Cheng Hua , a young bloke who turns out to be a great up and coming artist.  He showed me his collection, and I was impressed. Liu showed me one that he had done on the current Malaysian Prime Minister Mahathir. Mr Liu has created this collection with acrylic on aluminium.  To me, a non-artist buff, this seemed very impressive. As I am the least respected art critic on this planet,  I have to say that I was impressed and thought at that moment, this guy is good. Imaginative, not mainstream, not afraid to explore his boundaries and has a great personality.  I am not sure if all artist is like him, but I suddenly got even more inspiration to write this piece.  As I mentioned, my understanding of Malaysian artist with soul. Liu Chen Hua – The Inspiration The inspiration for these works is very eye-opening.  Mr Liu was born during the Mahathir era. Since when he was young, he was told by his parents that Mahathir is a wise, intelligent and knowledgeable Prime Minister.  Today, he has seen for himself the truth that was spoken and realised that he is the person that was described by his parents.  Personally, over the years I have too learned that Mahathir is an extraordinary person.  There is no denying that there are things which may tarnish his status, but he did manage the country well.  And the recent come back to the Prime Ministerial role cements his greatness.  For Malaysia, I hope he stays around long enough to clean it up. Liu has created a collection of great pieces of art that is related to several Malaysian stories.  There are many collections, and I encourage readers to visit his site .  I am sure many Malaysian artists have this artistic soul that is not related to creating 1MDB. To Liu’s credit, he has featured in many media articles which I am sure is boasting his profile. https://www.star2.com_Liu Cheng Hua: First Sculpture Exhibition – Taiping Here are a collection of media publications. Liu’s most inspiring artists. I asked Liu what his most inspiring piece of art is and his reply was, Andy Warhol’s Two Car Crash. The braveness of the artist to show what looks like an incomplete piece of work. It makes me think that art is not just about the work that is nice or beautiful because every audience sees and think differently. Just do what we like to do! My Conclusion To me, the Andy Warhol piece looked pretty complete, but that shows the shallow understanding I have of this kind of things. Irrespective of my level of knowledge, what I did get out of all the research I had done for this piece of writing, I have really got a better appreciation of the art world, the way the artist thing and I feel that their thought process is not that different to your other inspirational people in the world.  As I mentioned, the Bill Gates, the Steve Jobs, the Elon Musk, the Mark Zuckerberg, the Jeff Bezos and the list goes on… Not seen as an artist but they came up with this thought that this thing that they want to do will change the world. 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 topic has been a burning question for me lately.  About 12 months ago, I started looking into Hydrogen cars.  What I found was the typical issue of  Hydrogen cars?  Are they safe?  How do they work? “.  I started doing some research in preparation to write a blog.  As I read more about it, I slowly understood the complexity of the whole issue.  Like everything in this complex world of ours, its all about money and the protection of what makes money, even though it means we put the existence of the human species at risk.  Why let the progress of humanity get in the way of making a shit load of money. 🙂 Recently, I got inspired to write on the topic again when I started seeing all these news of people taking investments on this technology.  I began to think that maybe I am just too pessimistic about the investment world.. they do care… 🙂  I started thinking that my thinking is not silly but just a bit too early… 🙂 What is a Fuel Cell? Source:  Smithsonian Institution – Fuel Cell Basics A fuel cell is a device that generates electricity by a chemical reaction. Every fuel cell has two electrodes called, respectively, the anode and cathode. The reactions that produce electricity take place at the electrodes. Every fuel cell also has an electrolyte, which carries electrically charged particles from one electrode to the other, and a catalyst, which speeds the reactions at the electrodes. Hydrogen is the basic fuel, but fuel cells also require oxygen. One great appeal of fuel cells is that they generate electricity with very little pollution–much of the hydrogen and oxygen used in generating electricity ultimately combine to form a harmless byproduct, namely water. One detail of terminology: a single fuel cell generates a tiny amount of direct current (DC) electricity. In practice, many fuel cells are usually assembled into a stack. Cell or stack, the principles are the same. How do fuel cells work? The notes from the  Smithsonian Institution – Fuel Cell Basics , has a lengthy explanation and you can read at your leisure.  In summary, the fuel cells are a combination of a combustion engine and that of battery power.  Fundamentally, fuel cells make the energy on the run. The engine uses the hydrogen and combines air to produce electricity which is then used to drive the motor.  This process creates water as a waste product, and it is so pure you can drink it.  So we are told. The vehicle stores compressed hydrogen in a tank, and it is like your traditional fuel in a combustion engine car as opposed to a battery in an electric vehicle. What is the positive news on Fuel Cell cars? Hydrogen fuel cell vehicles will be the greenest form of energy, claiming the zero-emission title.  The hydrogen is produced from water, and the only waste product is water that is pure enough to drink.  The way you fill your car will take the same amount of time as putting in traditional fuel in your car that is running on the combustion engine.  Hydrogen cars will be able to drive much further than your Tesla (although some of the newer EV cars can do that now.)  Fuel cells work best in bigger vehicles and trucks, and this will help with the current environmental issues of pollution.  The clean environment has got to be positive in anyone’s books. Imagine all those soccer mums driving Landcruisers. The other obvious positive is that you do not have to wait hours for your car to refuel.  You drive to a station and fuel up in minutes and not hours.  Your only problem now is that you don’t have a station to drive to fuel up.  But they will come soon. Readers can view other positive effects of using hydrogen fuel cells at a site called Fuel Cell Today . Why has fuel cells technology been slow for uptake? They are expensive to produce (Platinum is a key component. This I did not know), as is hydrogen. The gas is flammable and difficult to store. And while hydrogen can be produced using renewable energy via electrolysis (using a current to separate water into hydrogen and oxygen), it’s more commonly produced from natural gas, releasing carbon dioxide in the process. For those who have read my earlier postings, I talked about the environmental negatives of renewable energy.  Have a read of the blog, Solar Energy – Could we alter the Climate? Tesla’s Elon Musk has called the fuel cell technology “fool cells”. There’s an industry joke: hydrogen is the fuel of the future – and it always will be. The process of making hydrogen from natural gas is called Natural Gas Reforming , and unfortunately, this is not very green.  In short, this is the process of exposing a methane source to high-temperature steam (700-1000 degree Celsius) and 3-25bar pressure in the presence of a catalyst. Apart from all the technical issues that are apparent, the biggest stumbling block is the lack of refuelling stations. Will Hydrogen cars blow up? – Hydrogen Fuel Tank Integrity. The big issue with hydrogen cars was the previous belief that the vehicles would repeat the Hindenberg scenario . I read an article about the Honda Clarity and came across their documentation regarding the integrity of the fuel tanks. I have quoted an article on Slash Gear March 19, 2017 . The 2017 Clarity Fuel Cell actually uses two of them, splitting its fuel between a larger tank behind the rear seats and a smaller one underneath them. Each is made of carbon fiber and, in a world’s first, lined with aluminum. They’re designed both to withstand huge pressure – the total 5.46 kg of hydrogen is stored at 10,000 PSI – but also to fail, should the worst happen, in a predictable and manageable way. It’s tested to withstand extremes both of pressure and heat. Should the temperature rise to a point where an explosion could be a possibility, there’s a special valve that’s designed to safely vent the contents before that happens. Known as a thermally activated pressure relief device (TPRD), it’s a one-time-use outlet which can quickly release the hydrogen in a controlled manner. As for the possible consequences of a crash, frankly the hydrogen tank is probably the safest part of the whole car when it comes to sustaining damage. Independent testing by Vancouver’s Powertech Labs of the sort of carbon-fiber tanks Honda – and other fuel-cell vehicles currently on the road, like Toyota’s Mirai – is relying on have found that nothing short of a .50-caliber bullet can make it through. Anything less just bounces off. And if something does manage to pierce the carbon-fiber? The tanks themselves are designed to vent, but not rupture, just as the TPRD is: in effect, they release their pressure in a controlled way, rather than peeling open like a rotten cantaloupe. As the Honda engineers explained to me, it’ll be loud, and give you quite a shock, but it won’t actually explode. Hydrogen sensors scattered near the fuel cell stack and near the tanks themselves keep their electronic noses primed for any escaping gases, shutting the system down if necessary. Vents on the front fenders and at the filler cap avoid any rogue hydrogen building-up. Since it’s lighter than air, it should quickly dissipate; nonetheless, a warning message is flagged up on the dashboard of the Clarity Fuel Cell, advising the driver to contact the dealership. Recent News Recently, in an article published by “The Australian – CSIRO on brink of a breakthrough in enabling hydrogen fuel cell supplies”, where they talked about a new technology that will make hydrogen fuel cell more viable in future vehicles.  According to the article, the technology from CSIRO (Commonwealth Scientific and Industrial Research Organisation, an independent Australian federal government agency responsible for scientific research.) will solve the issue of transporting hydrogen to pumps that will refuel cars. The technology will also make it commercially viable to export hydrogen overseas as ammonia (NH3) for use in fuel cells. Earlier this month, Andrew Forrest of Fortescue Mining announced that they would invest AUD$19M over a five-year period into research at the CSIRO’s Brisbane laboratories.  I am guessing that it is a pleasant diversion for Fortescue Mining to go into something new and different.  Low-grade iron ore industry is not looking great for them at the moment. Andrew Forrest’s Fortescue joins hydrogen push with CSIRO tie-up. Andrew Forrest gives $20m to help kickstart a hydrogen industry in Australia Mining billionaire Andrew Forrest is throwing $20 million behind the CSIRO’s solution to one of the biggest problems holding back hydrogen-powered cars Who is investing in Hydrogen Fuel vehicles? The main visible proponents of hydrogen fuel vehicles have been Toyota, Honda, Hyundai and Mercedes.  The likes of BMW and Volkswagen/Audi are not far behind with prototypes.  In Germany, a program called H2 mobility is planning to build 100 hydrogen fueling stations across the country by 2019. Mercedes has been in the news lately here in Australia with the detailing of its new hydrogen fuel-cell plug-in hybrid vehicle ( www.news.com.au – 14th November 2018 ) Mercedes plans to have up to 25% of their production in electric cars by 2025.  I am sure all the car makers will be doing that, and this is the reason why there are a lot of pf people shorting the profitability of Tesla. For Hyundai, the car that has been making news is the Nexo SUV.  The price of the car would be a deterrent to your everyday folk, and the lack of refuelling station would make the lack of interest. However, like everything new, this will become more affordable with time. ( www.news.com.au –  23rd February 2019 ) What do the financial markets think about all the fuss? Honda like all its competitors are all into green technology. Electric cars are now the future, and everyone is into it. Tesla is no longer synonymous to the phrase electric vehicle.  Interestingly, there are a lot of Wall Street people who are shorting (selling, for those who are not familiar with the terminology) Tesla on the market.  Steve Eisman who is the real Steve Baum in the movie “The Big Short” is one of those guys that do not believe in the longevity of Tesla as the Michael Jordon of electric vehicles. Interestingly I found a rebuttal to this thinking, and it is worth a read. Amusing, entertaining and relatively informative.  Its an article by Clean Technica – “Does Hedgefund Honcho Steve Eisman Not Have A Research Department To Give Him The Facts On Tesla?” by a Maarten Vinkhuyzen . I must say that the recent announcement by Tesla saying that they are back on track with production may be the downfall of Steve Eisman’s issue with their execution.  He was right that they had an execution issue as Elon Musk himself said that they nearly went broke because they could not meet production numbers. Whats the Future? In regards to the hydrogen cells, the fact that all the major car makers are going there even with the whole EV market, tells me that they are all hedging their bets.  I believe that the lottery is like this,  time to charge vs the number of fueling stations.  Whichever wins, will win the war. The war is easier to win with building refuelling stations.  The recent media announcement by CSIRO will mean that the reality of hydrogen energy will be closer than say ten years ago. When you look at the EV market now, it’s not a done deal.  There are still so many factors to consider.  Hydrogen is easier to manufacture once the technology is understood, it will be a smooth ride. A recent report by the Future Fuels Cooperative Research Centre (FFCRC) announced in April 2018, has secured more than $90 million in funding (including $26.5 million from the federal government and $8 million from gas network businesses) to undertake research and development to help transition Australia’s energy infrastructure to low-carbon fuels such as hydrogen and biogas. ( Hydrogen for Australia’s Future ) I have not found any ASX companies that are in this industry so please let me know if anyone does find one. In Conclusion, I must say that two years ago I was looking at a similar project and I will make sure that I contact those guys again.  They had an exciting technology, and after doing all this research, I am very bullish on the sector.  I will revisit those guys and get them to take the technology off the shelf. 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

The Paterson Range which lies in the Proterozoic Paterson Orogen has been a forgotten region of mineral wealth.  It has only been the focus of all punters because of the recent Greatland Gold announcements on Havieron.  In addition to that has been the rumour mill on Rio Tinto possibly finding another “Olympic Dam” style deposit.  Since the discovery of the Telfer gold-copper mine, the region has highlighted its extreme mineral wealth, but in reality, I feel that it has taken a backseat run to all the other provinces regarding discovery excitement. Paterson Range – Mineral Wealth The Paterson range is home to three world-class mineral deposit.  Geologically the area is known as the Paterson Proterozoic Orogen.  The most famous is Telfer Gold-Copper Mine followed by Nifty Copper Mine and the undeveloped Kintyre Uranium Mine .  In amongst these giants are several other gold and base metal projects such as, Warrabarty – Carbonate-hosted Zinc-Lead Woodie Woodie – Mn Magnum – Gold-Copper–Silver-tungsten (Antipa Minerals, ASX: AZY) Goosewacker – Lead-Zinc-Copper vein deposit Maroochydore – Disseminated Copper O’Callaghans – Tungsten Rainbow – Stratiform Copper Moses Chair – Pb-Zn Grevillea – Massive pyrite. Citadel – Cu Finch – Cu These are only the more significant and notable names. There are numerous projects which have had decent discoveries, but due to a lack of infrastructure and the higher cost of exploration and development, not many have advanced.  The O’Callaghans Tungsten project is a good example.  It is one of the most massive known Tungsten project outside of China and yet, it is relatively unknown as it is 300m below the surface and has little chance of being developed at today’s Tungsten price. The projects that define The Paterson Range. Telfer Copper and Gold Mine. The Telfer operations are approximately 400km east-south-east from Port Headland and 1,900km north-east from Perth. Newmont Mining first made a claim to the deposit in 1972.  However this claim is disputed by Jean-Paul Turcaud to this date. Turcaud claims he found the Telfer deposit two years before Newcrest did. In the early 1980s, Turcaud reached a settlement, accepting $25,000 from Newmont’s head office in New York City but continued his claim, demanding a Royal Commission. Turcaud continues to sign posts on Global warming to newspapers as the Discoverer of the Telfer and Nifty Mine. The official story of the discovery states that the deposit was found by Day Dawn Minerals, a small exploration company, who did not stake a claim either. One of the company’s geologists, a man called Ronnie Thomson, then moved on to work for Newmont, in which position he informed David Tyrwhitt, then exploration manager for the company in Western Australia, about the promising gold samples that had been found. Newmont paid Day Dawn $15,000 for the maps of the deposit and Tyrwhitt staked out the claim in May 1972 Despite more than 30 years of exploration, the Telfer deposit remains the only significant gold deposit in the province.  Copper and gold are hosted by veins and stockworks that are concordant in the upper parts of the mine, but crosscutting at depth. Currently, Telfer has the following facts on the mine, 2.4Moz of Gold Ore Reserves 8.2Moz of Gold Mineral Resource 0.21mt of Copper Ore Reserves 0.66mt of Copper Mineral Resources Nifty Copper Mine The mine is approximately 450km east of Port Headland, Western Australia.  Currently, the Nifty mine is owned by Metals X (ASX: MLX).  It has a resource of 21.10Mt @ 1.73% Ni and 539Kt of Copper. The deposit was discovered by Western Mining Limited (WMC, now acquired by BHP Limited) in the early 1980s.  WMC developed a conceptual model for the exploration of sediment-hosted stratiform copper deposits.  Regional fieldwork uncovered coarse-grained sandstone source and laminated dolomitic siltstone and pyritic shales as host In the 1970s,  work began with geophysical and geochemical field work with the discovery coming in the early 1980s.  Geophysical work highlighted a Pb-Zn-Cu target in the western part of the Yeneena basin.  Mapping and lag sampling confirmed the presence of the anomaly and subsequent drilling uncovered the secondary ore body.  Discovery occurred in may 1982.  Mining began in 1992. Interestingly, the Nifty copper deposit is not the most significant copper orebody. It is the only one mined.  The most substantial copper ore body is the Maroochydore disseminated copper deposit. Kintyre Uranium Project. The Kintyre uranium project is 60 km south of the Telfer gold mine and 260 km northeast of Newman at the western edge of the Great Sandy Desert in the East Pilbara region of Western Australia.  CRA Exploration (now Rio Tinto) first discovered the Kintyre deposit in Western Australia in 1985.  Cameco bought the project in 2008 from Rio Tinto in a 70% joint venture with Mitsubishi for US$495M in July 2008.  In July 2012, Cameco announced that the deposit was not economical at current market conditions, stating it required a $67 per pound uranium price. (GSWA Report 97) Maroochydore Copper Project The Maroochydore copper Project is at the western margin of the Great Sandy Desert approximately 100km south-east of the Nifty copper mine (Nifty), 100km south of the Telfer gold mine and some 450km south-east of the Port Hedland concentrate loading facility. Metals X Limited currently owns it. The prospect as 486,000T of Cu metal @1%Cu and 19,000T of Co metal @ 380ppm Co. The 2012 drilling programme, comprising 33 drill holes for 14,971 metres of pre-collared diamond drilling, commenced at the end of April 2012 and was completed in October. Drilling was undertaken over a 5km strike length and included 10,602 metres of diamond drilling at an average hole depth of approximately 453 metres. Stratabound copper sulphide mineralisation of low to medium grade tenor was located in almost all holes and was locally upgraded to narrow high-grade lenses in highly deformed and strongly brecciated folded and faulted structural traps. Note:  I have forgotten where I got the above information. I know that information did not come out of my brain. I tried to source the info but in, my untidy manner, I cannot remember.  It has been a busy weekend. What is the Issue? Like always, the investment world flock to low hanging fruits or perceived low hanging fruits.  Funding for companies is hard to find when you want to explore in “frontiers” such as at the Paterson range.  As I mentioned earlier, the lack of infrastructure for working in this region is a big negative. I remembered in 2009 when I was scouting for projects before listing my previous company,  I looked at a project in the Paterson Range. I liked the potential and the upside. No one was spending money in the region.  I loved the fact that no one was looking to do things in the Paterson Range.  I had a discussion with the vendor, and he mentioned that it would be an expensive journey and being a small company, he advised that I look elsewhere.  Reluctantly I agreed, and it made good sense at that time. Many people would have done the same. Driving over dunes and getting your drill company to do that would be an expensive exercise.  As one associate said to me recently, one dune looks the same as another. Why is the place so mineralised? According to the Geological Survey, there are 130 mineral occurrences recorded.  In my opinion, the proximity of these vast deposits indicates to me that the system source has to be of a significant size.  The Proterozoic Paterson Orogen has always been known to have the potential to be bigger than the existence of those three world-class deposits (Figure 6).  In early 2000, a company announced the discovery of micro diamonds.  Twenty micro diamonds and other indicator minerals were found during exploration.  Regarding geology, this will imply that the mineral-rich mantle source is surfacing into the Paterson Range. In terms of a Proterozoic Orogen (for those who are not geologists, the Proterozoic word describes a period in geological timeline. A quick google search will explain it), there are a lot of significant deposits.  It is one of the most mineralised geological time producing recent discoveries such as the Tropicana Gold Mine (7.9M oz) and the large Nova Nickel-Copper deposit (10MT) . Like all the mineralised fields in Australia, the Paterson Range is only under-explored due to the harshness of the region and the thick cover that exist in most parts of the Paterson Orgen. Regarding structure, the GSA (Geoscience Australia) has made studies that are implying the structures underlying the placement of the Paterson Orogen is deep-seated crustal related.  I don’t think the geological fraternity is arguing against that observation as this is why geoscientist always liked the Paterson Orogen.  If you look at the continent of Australia, thanks to its age, the land is oozing minerals out wherever the land allows this mineral-rich system to surface. So what’s the fuss all about? I only started noticing the fuss after a friend ( the one who had the wisdom to tell me that one dune looks the same as another), sent me the announcement from Greatland Gold PLC .  It was the results from their first drilling program. Greatland Gold PLC HAD001 came back with 121m @ 2.93g/t Au and 0.23% Cu.  It was deep down the hole, from 497m to 618m.  Now the intersection was impressive, but I thought that the intersection was deep down.  As usual, google searching started, and I started to see some news that Rio Tinto may have found something big also, but there was no news about that in the public domain. HAD003 came back with 21m @ 3.78g/t and 0.44% Cu and HAD002 was less significant with 1m @ 5.9g/t with 0.24% and 2m @ 5.44g/t. Greatland believes that they may have an IOCG (Iron Oxide Copper Gold Ore Deposits) on their hands although some proponents in the area think that this could be a variation of a VMS.  Whatever this may turn out to be, all I feel is that there is something substantial. The discovery by Greatland is exciting, and they seem to have raised funds to continue.  It is probably a good time to be doing all these kind of deep drilling as the market is not at it as high as in 2007/2008. Drilling costs are not prohibitive, and there are now some government incentives that subsidise this kind of “frontier” work. Artemis Resources Limited (ASX: ARV) There are a lot of players in Australia involved, but one of the more interesting ones is Artemis Resources Limited (ASX: ARV) .  The information from their releases is fascinating. The company made an announcement recently highlighting that they have raised more money and they will start exploration work.  Now I get that they have the tenement adjacent to Greatland gold.  The regular nearology play.  However, have a look at Figure 4, and Figure 5 was released with their announcement. Look at the structure, the line leading north into the Armada Prospect.  Remember that Figure 4 is from coarse magnetic data (400m spacing).  There is one going north and another primary structure heading in an SW direction into Armada.  Now if Havieron is something big,  I think Armada has got a lot of chance of turning into something significant as well. Look at the smaller structures in an east-west nature, and if they cut these primary structures, then you are going to get some action. Remember the pure theory. Liquids come spurting out at the point of least resistance.  The point where these lineaments/structures meet will be what we call an extensional point and a point of pressure release. All these assumptions are assumptions only and will be fact if and when they drill those points.  I would suspect that when they get their act together and start doing more detailed geophysics, things will become clearer for the better or the worst… 🙂 Figure 5 has more structures shown and at this stage who knows what may be in store within Armada.  As a punter in this industry for a long time, I like simple fundamental things.  We are dealing with the possibility of one or several elephant type discoveries.  I wanted to highlight in Figure 2 and Figure 6 the proximity of all those world-class deposits.  They are all within 100km from each other.  I cannot make this any clearer that the discovery is building a significant statement. Antipa Minerals Limited (ASX: AZY) The other player in the Paterson Range rush is Antipa Minerals Limited.  As I mentioned, I came very late into the scenario of “who has what?” and “what is the prospects?”.   And because of these unknown factors, I was surprised to see what Antipa had in their tenements.  Remember that Antipa is the company who has the JV with Rio Tinto, and they could be on the verge of a big payday.  With Rio doing lots of things in their tenement and giving everyone heartburn waiting in anticipation for news, the punters are taking positions. The best place to have a look at their project is n their website .  Their share price has taken a great leap in late October from about 1.3c to a high of 3.7c in late November.  However, if you look at their share price over three years, you will notice a long period of no action (Figure 7). I am not sure if shareholders are happy or not, but I have been in those prolonged short-term punts that last longer than its definition,  and I will say, I was not singing for joy. Looking at the three-year chart, you would think that the last two years were pretty dull. I am not sure what is the driver for the recent rise in October 2018 as I am not intimate with the going on of the company.  However, if you look at Figure 7a,  the journey from the Rio Tinto JV announcement till now will be very disappointing for punters (unless you sold out on the run to 6.6c).  A market capitalisation of AUD$51M appears to be high, but I would think that a discovery of the nature we have been discussing would make this company cheap at this stage. What I am understanding is why its share price has not moved with the amount of “assets” that one can see it its tenements. All the smoke that is in their tenements is proof that there is a lot of mineralisation happening and the source is very productive.  This character is consistent with the other mineral-rich provinces such as the Norseman-Wiluna Belt, the Murchison, the Hamersley, the Albany-Fraser Belt, Yamana Belt, The Arunta Block, Mount Isa, Ballarat…etc.  There are multiple big projects mixed among the numerous smaller projects. The other players in the Paterson Range Rush. Looking at Figure 8, you can look at why I am very upbeat on this whole scenario.  When I started researching the region, I was taken back at the prospect of this area. I knew that there was Telfer, O’Callaghans (Tungsten), Nifty and Kintyre but I did not know about the rest. Conclusion I am not saying that Artemis is going to have the elephant nor am I saying that Greatland has the elephant.  For all we know, the elephant may never exist at this stage.  Maybe the elephant is with Rio Tinto.  What I do know is that with the news that is coming out of Greatland and the inference you would make as a geologist,  the prospect of having kilometres of a massive structure going through your tenement is exciting for Artemis. Time will tell what the real story is.  In my opinion, the game is between Greatland Gold, Artemis, Antipa and Rio Tinto.  In a time when our technological advances in exploration are much better than 20 years ago, I think the time for a real discovery in the Paterson Range is not far away.  The Proterozoic Paterson Orogen will uncover a few more world-class mines if not at least one. To add an outsider tip, Fortescue Metals Group who have some tenements in the area may surprise the market.  I say this because this is a game for deep pockets and they have deep pockets. Companies like Artemis may have the best opportunity, but if they cannot continue to tap the market for money, they may indeed exit this game sooner than they wish.  The recent raise that they made undoubtedly is taking the company in the correct direction. Many industry experts have said over the recent years; exploration will be the most critical component of all major miners.  It will be expensive as all the low hanging fruits are taken. The research will need higher technological advancements.  Exploration will be riskier than before, but if you do it correctly, it may be more rewarding.  The rewards will be more substantial as it will be discovered in a place nobody had been before. 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

What is the problem with vanadium?  There is a rush for the product, but the market does not seem to be giving the vanadium companies any slack.  We all know that it’s a complex element and many a company have gone bust trying to master it.  We also know about its special properties that are luring young and old to invest and take that punt hoping for a big payday. Over two centuries have passed since the Spanish scientist Andres Manuel del Rio discovered vanadium in Mexico.  Despite this, we are only now understanding the mineral’s vast potential.  If vanadium is known for anything, it’s steel. Added in small quantities – as little as 0.15% – vanadium is proven to double the strength of the alloy.  Henry Ford was one of the first exponents of the metal, using it to strengthen the Model T – the car credited with introducing the automotive industry to the masses in the early 1900s. Its the unique properties of vanadium that is driving the excitement at the moment. What is Vanadium? According to Wikipedia , Vanadium is a chemical element with symbol V and atomic number 23. It is a hard, silvery-grey, ductile, and malleable transition metal. The elemental metal is rarely found in nature, but once isolated artificially, the formation of an oxide layer ( passivation ) somewhat stabilizes the free metal against further oxidation. Andrés Manuel del Río discovered compounds of vanadium in 1801 in Mexico by analyzing a new lead-bearing mineral he called “brown lead”, and presumed its qualities were due to the presence of a new element, which he named erythronium (derived from Greek for “red”) since, upon heating, most of the salts turned red. Four years later, however, he was (erroneously) convinced by other scientists that erythronium was identical to chromium.  Chlorides of vanadium were generated in 1830 by Nils Gabriel Sefström who thereby proved that a new element was involved, which he named “vanadium” after the Scandinavian goddess of beauty and fertility, Vanadís ( Freyja ). Both names were attributed to the wide range of colors found in vanadium compounds. Del Rio’s lead mineral was later renamed vanadinite for its vanadium content. In 1867 Henry Enfield Roscoe obtained the pure element. Vanadium is the 20th most abundant mineral in the earth crust and occurs naturally in about 65 different minerals.  The metallic vanadium is rare and is known as the mineral vanadium, native vanadium.  Wikipedia has a pretty substantial write up on its uses and other factors.  One should contribute and keep it free :-). Traditional uses of Vanadium. About 90% of vanadium is used to produce speciality steel alloys.  Vanadium pentoxide is a catalyst for the production of sulfuric acid. Uses in the Renewable Sector. The recent rush to find vanadium stems from the introduction of vanadium flow batteries. As reported in altenergymag.com , these batteries allow intermittent energy supplies to be regulated from moment to moment.  This dispatchable energy or dispatchable power enables the grid to balance the amount of energy going into wires. Vanadium flow batteries utilise vanadium’s unique characteristics for rechargeable energy storage, which is critical to renewable and dispatchable power systems. Research facilities around the world are investing in vanadium flow battery research and development to meet the projected global demand.  The vanadium flow battery has virtually unlimited storage capacity with the ability to scale the batteries. As a result, the vanadium flow battery’s value to the emerging renewable energy technology sector is compelling for many utility companies and grid operators. Why is the Vanadium Flow Battery not as famous as the Lithium Battery? Currently, the Lithium Battery (LiB) are more efficient and hence more cost effective for the everyday household.  The Vanadium Flow battery (VFB) close the efficiency gap with the larger storage capacities.  However, at this stage of the technological race, the VFB is still at its infancy.  Like the tungsten battery article that I wrote about in my previous blog, at this stage, the race is still favouring the LiB. Interestingly, when you look at the capacity of the VFB,  I do see them doing well with the massive solar and wind farms.  The way the battery works will be a great benefit in those cases, but I think the cost effectiveness is going to be a big issue. Research does show that these batteries are the most efficient in large capacity requirements. The VFB has up to 40% vanadium content, and this will make the battery vulnerable to price fluctuations.  Imagine what the price of a Cobalt battery now if there was a Cobalt battery.  LiB has already established a big stronghold on technology, and as always, this is going to be hard to change.  No matter how good your technique is, once the mainstream players set their views, they are not going to change in a hurry. So what does that mean for the mineral resource fraternity? For those that have been following this sector, the lack of keen interest is becoming very frustrating.  Many people would have remembered the Windimurra Vanadium project.  The last proponents to take on this project was Atlantic, and that ended in tears.  I believe that was around 2014.  The project had a significant mineral resource.  As quoted on the Atlantic website , the resource was over 235MT.  They claimed to have highest quality ore and was building a plant as well. Recently there was news that the owners of the project are making a comeback with the rising interest in vanadium.  This project had many issues, and the volatile vanadium price did not do them any favours.  However, if my memory serves me well, the main problem was the chemistry and the issues in the plant.  Whether it is a chemistry problem or a lack of management, one will never know.  I remember talking to a few guys about this and they did say that chemistry was the issue. It was because of these issues that I have always maintained,  if you have that large a resource and you cannot get the chemistry right, what hope would any company have without all those positive parameters.  The guys who were in that industry would tell me that it is easier to work with another commodity than to try and work this one out :-).  I am sure that this is now had many technological advances and such issues would have been overcome. Vanadium Companies on the ASX There is a good list of these companies listed on www.smallcap.com.au and it had a good summary of vanadium facts.  I will admit that I have not followed them much because I feel that there is a gap in making the chemistry right.  These boutique stocks are now taking a hiatus on the market, and like all things unique, it needs the market to be hot.  Lithium and Cobalt stocks are a good example. Late last year, you could do no wrong, but now, they are not looking healthy.  Even the ones that have a good story are having a hard time getting the market to get excited. As you can see in the share price charts that I have included, things are not happening.  I have added the stocks that I have some knowledge about so please don’t think that I am favouring any particular companies. My Conclusions The vanadium Flow battery is new technology compared to the traditional Lithium variants.  My thought is that the science behind the technology is very good.  This battery can handle the fluctuation in energy within itself as if it has a living ecosystem. The fact that you have an ever-changing flow of reactions that is comfortably controlled by vanadium with its “living” oxidation states is critical.  Lithium batteries have a tendency to surge and the technology required to manage that is not simple.  This is why we don’t have a rush on electric aeroplanes. The imbalance use of charging and discharging in batteries promotes decay, and that is what these Vanadium batteries can overcome.  I feel that in the long run, the VFB will become significant tools. I read in one article that the New York’s Metropolitan Transport Authority has signed a deal to test vanadium redox batteries . Researchers are developing a prototype that can store electricity generated overnight when the demand is low. The energy stored in the cell could then be used in the morning when the demand for electricity goes up, and this would reduce the amount of power needed during the day. The city would also save money on its electricity bills because power generated overnight costs less than during the day. In the case of the most widely used renewable energy source for everyday households, the solar panels, vanadium-based redox batteries could also help in to be more efficient. Solar panels produce the most electricity in the middle of the day, when residents are often at school or work and when the demand for electricity is low. Vanadium batteries could store this excess electricity and discharge it later in the evening when people are at home to use it. Cost efficiency of these batteries is now what holds it back.  There is a company that makes a “mega-battery” that is as big as a car which sits on top of an office building in Manhattan skyscraper that is charged at night when electricity is cheap and discharge during the day to reduce the amount the building has to pat in daytime prices.  So as you can see, in future, these batteries will be a big player.  It is just a matter of time. 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. 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