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

I knew about the rush on medicinal cannabis but I did not understand … till now -The Hat In simple English, Cannabinoids are a group of active compounds found in all strains of marijuana. Marijuana contains many chemical compounds that create the different characteristics of the plant. Terpenes provide flavours and aromas, while chlorophyll in the leaves makes the plant green. But the essential chemicals in marijuana are the cannabinoids. This link (https://www.leafscience.com/2017/10/25/what-are-cannabinoids/) has an excellent explanation of what it is and how it works in a marijuana plant, so I will not go into the detail. I want to talk about what is happening with this word… I know that this is not a new topic and it is well researched. There is even a whole research centre called The Australian Centre for Cannabinoid Clinical and Research Excellence (https://www.australiancannabinoidresearch.com.au/ ) It’s just something that I think the general public is not aware of, at least aware that there has been a heap of research going on about this new “drug”. Other than that, I have just been living in a cave as I am the only one that has no idea what the fuss is all about. Basic Points Cannabinoids are the chemicals which give the cannabis plant its medical and recreational properties. Cannabinoids like THC and CBD interact with different receptors in the body to produce a wide range of effects, such as feeling high. THC is known for its psychoactive properties and is the reason you feel “high” after ingesting marijuana. CBD is a non-psychoactive cannabinoid and works to counteract the high. CBD also has numerous benefits, such as anti-inflammatory and neuroprotective properties. But what exactly are cannabinoids, and why are they able to interact with the body? The answer has to do with cannabinoid receptors in the endocannabinoid system. Let’s take a more in-depth look at these fascinating compounds. There are more than 113 different cannabinoids in your real plant. THC and CBD are the most prevalent and the most well-understood. Marijuana’s cannabinoids are produced and stored within the trichomes (crystals) of the plant. These trichomes give marijuana flowers their shiny and sparkly appearance (never seen one outside of a photo). While THC and CBD are the most well-known cannabinoids, there are many other cannabinoids in marijuana that offer health benefits. Some of these include cannabigerol (CBG), cannabinol (CBN), and cannabichromene (CBC). I do not profess to know everything about these cannabinoids but from what I have read. It seems that those chemists in this area are having a field day with the possibilities. Good or bad. In summary, its all about how receptors in our system attaching to these cannabinoids in our system and doing chemistry. Interestingly, we humans also produce cannabinoids. Read the link provided. It’s all exciting stuff. What is so fascinating about Cannabinoids? Now as we all know, there is a heap of anti-cancer solutions, but the use of cannabinoids is just too interesting for this rock-licker. This is one very scientific article https://www.sciencedirect.com/science/article/pii/S0278584615001190 that I found. But its just not the anti-cancer, I have seen some videos about its use with Parkinson disease and the result is short of amazing…Being a person who considers the aged with such issues, I am all for this fantastic stuff. I would be very interested in seeing if it can do anything with dementia patients… now this area I am very intimate with, and I tell you, it will make lots of peoples life significantly better. This is the abstract from that paper, It is well-established that cannabinoids exert palliative effects on some cancer-associated symptoms. In addition evidences obtained during the last fifteen years support that these compounds can reduce tumor growth in animal models of cancer. Cannabinoids have been shown to activate an ER-stress related pathway that leads to the stimulation of autophagy-mediated cancer cell death. In addition, cannabinoids inhibit tumor angiogenesis and decrease cancer cell migration. The mechanisms of resistance to cannabinoid anticancer action as well as the possible strategies to develop cannabinoid-based combinational therapies to fight cancer have also started to be explored. In this review we will summarize these observations (that have already helped to set the bases for the development of the first clinical studies to investigate the potential clinical benefit of using cannabinoids in anticancer therapies) and will discuss the possible future avenues of research in this area. In my last blog on Industrial Hemp, I was sparked by this mention of the work on cannabinoid that will push governments to look at more liberal legalisation of the uses and production of Industrial Hemp. I was not sure what that meant and was not even able to pronounce the word… and then it all clicked… so this is what all the fuss is all about on the stock market. A simple Google search will unearth a plethora of information and people can debate the moral and ethical parts of cannabinoid use. I think if we can extract these “things” naturally and it is a good thing, I am all for it. Interestingly there is a video where one researcher mentioned a study completed where they showed that heavy smokers of “ganja” showed a negative chance of cancer. Heavy smokers of tobacco were 10-fold or 20-fold positive for contracting lung cancer. Whether this is Real or Not, I will leave the decision to DYOR. source:https://atlasofscience.org/the-safety-and-toxicology-of-cannabinoids/https://www.sciencedirect.com/science/article/pii/S0278584615001190 Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Just went on a trip to the Pilbara for a short job with a client and I had forgotten how beautiful this place was, especially in winter. Arriving on a Friday, I did the usual visit the office, drop my gear off and then I went looking for my site and drove down the Tom Price bitumen road. “Do or Do Not. There is No Try — Yoda” I remembered the famous quote by Yoda and took off the road to find an obscure turn off before a Floodway sign where it will lead me to a site I have never seen before, that was the directions given… Luckily being an Exploration Geologist, I found it and never got lost like accountants…… After a day of locating drill sites and talking to the appropriate people to clear drill pads, it was back to see what has changed to the township of Karratha. The last time I was in Karratha (https://goo.gl/maps/chpkAwcWCqL2) for a decent time was in 2007. I had a brief stop nine months ago, but we were in the field all day, and all I saw was the night version. My verdict is that they have taken away the swimming pool and built apartments. Apart from that, it is the same with the addition of KFC, Subway and MacDonalds. Oh and excellent pubs/restaurants that charge like a wounded bull :-). The next day was spent making sure all was good with the earthworks, talk to the drillers and more photography. I went wondering outside the drill area, as I always do, to see what I could be drilling into and I came up with these two beauties. At a temperature in the high 20s Celsius, it was as perfect as you can get to do some geological wonderment. The Pilbara in my opinion is one of the best places to work; it just grows on you. The third morning is when I took my first sunrise photos, and it was a good morning. The drillers were a touch late…. 10 am…but who is counting. Anyway, I enjoyed sitting around the weather and just relaxing, but it would have been good if I could have had a couple of coffee as well. The best part of this trip was the fact that a guy was mapping the area. We had many great discussions on what possibly could be happening here, and I was all ears to his thoughts. I was surprised that I had some excellent insights myself (always under appreciating my talents….). This help is the best part of exploration. “It is a previlage to be an exploration geologist as you get paid to go to places people who pay lots of money will never get to go and experience the wondrous Australian outback.” The job was over in a hurry, and it was back to photography and then having a mellow return to civilisation. I look forward to the next job and hopefully a trip to a nice place and not some boring mine site…… Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

In my endeavour to look at new concepts and creating new networks, I visited the 2018 International Business Festival in Liverpool, UK between the 11th June and the 25th June. The festival took the format of 3 days per week for 3 weeks, so a total of 9 sessions. Although the main components of the talks were about the UK, I picked up a lot of concepts and ideas for the Austalasian sector. There was also the creation of new networks of investors and projects. Each day had a different theme and within each day, there were micro themes. https://www.internationalbusinessfestival.com/ Week 1 1. Global Economics 2. Urbanisation & Cities 3. Sustainable Energy Week 2 4. Future Transport 5. Manufacturing 6. Global Logistics & Shipping Week 3 7. Health & Life Sciences 8. Creative Industries 9. Sport, Culture & Travel The one major story I kept hearing was the aggressive nature of British government spending. The figure of £6B were being spent to generate business in the UK. There were also the numerous government sponsored agencies that were created to aid small businesses to compete and participate within the EU and the rest of the world. I attended one stand and it was showcasing a satellite imagery software to monitor mining and environmental projects. It was one of two things i saw that had direct relationship to the mineral resources sector that I seem to live in. However, the lady explained to me what they do and I wondered if we had anything like that in Australia. They were called Catapult – Satellite Applications (https://sa.catapult.org.uk/about-us/) and they were one of 6 or 7 other catapults in the UK. There was one for different “sectors”. Then there was the daily Investor Pitch which was the organized by the UK Business Angels Associations (https://www.ukbaa.org.uk/). These talks were the best thing about the whole festival. I found myself a comfortable couch (yes, they had one) and I sat down and listened to a myraid of 5 minute talks on everything from IT to Hemp building products. While we are all going through our networking, we were graced with the company of Prince William. Apart from the great talks and networking, the 2 weeks had other enjoyable parts, such as my trip around Manchester and Liverpool, my scenery along the journey by train from Manchester to Liverpool and my trip to Anfield… Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Written by Adam Smith Shoe Ask anyone to share with you what they know about economics and chances are Gross Domestic Product (GDP) will get a mention. Ask an economist what is GDP in private, and you will hear that it is a lousy measure but better than nothing. GDP has been around long enough to provide relativity for analysts, commentators and joe-public alike. But it is still a lousy way to measure. Here’s why. I refer to the three letter GDP acronym as a measure that “Grossly Deceives People.” One and all sell it as THE measure of economic health to all and sundry. In reality, it is an easily gamed measure that incentivises poor choice and compounds mal-investment. Take Australia’s record 24+ years of uninterrupted positive GDP. Politicians in government spruik this as a miracle of fiscal government engineering. How long? Note how the line stays above zero after 1992 in the above chart. Peel back the GDP numbers, like most economic measures, and the miracle is how miraculous politicians have been in getting away with the GDP deceit. For the average person a good outcome is to be able to get on with life, contribute their bit, have some R&R in between, and accumulate some wealth. Pretty basic stuff. One would “think out loud” (sic.) that a quarter of a century of faultless positive GDP would translate into a citizens paradise. Surely a nation of utopian wonderment? Far from it, and the public is waking up to the GDP deceit; too late for many. Manipulating the GDP spin is easy. For example, as GDP goes up, so too goes up the nation’s wealth. Great! Take that growing wealth and divide by the population number means not so great for Australia. You see aggregates like GDP are deceitful unless pulled apart and put through comparative analysis. A stagnant population with upward GDP is a population where the benefits per-capita are going up. That’s a good thing; only that is not what happens in Australia. True, GDP has been positive for 25 years or so, but so too has net immigration. And the “net” of net migration dispersal across Australia is narrowed to two cities; Sydney and Melbourne. That means GDP for these population centres in NSW and Victoria is excellent, per-capita GDP, not so. Immigration is just another of the three card tricks in the GDP game. Add more people to a country, and you can add the new arrivals as a percentage directly to the GDP number. What? If GDP was stagnant at 0%, but you allow an influx of migrants, adding 1.5% to the population total, guess what? GDP goes from 0% to +1.5%. Clever isn’t it. Population growth through net positive internal population growth plus positive overseas migration to Australia has subsumed any clarity GDP measurements can provide business and the general public. Back out population stuffing from the GDP number and Australia looks like an ossified economy creeping to a halt. As I type this Australia’s population will reach 25 million souls; 30 years ahead of schedule. Thanks to bringing forward population growth to support the positive GDP narrative, GDP has remained upward, even though Government as a share of the economy now makes up 25% of activity. (Federal – ex-State and Local). Significant manufacturing is all but dead, but for a few outposts, if it wasn’t for extractive industries the whole economy would be transfer payments (welfare), government pork barreling infrastructure like roads, and not much else. What has Australia got to show for 25 years of continuous positive GDP? Infrastructure demand out-weighs the ability of government to deliver or indeed even fund it. One new person requires about $350,000 of immediate infrastructure. Yes, really. All these new souls have brought the miraculous GDP growth rate to a tipping point where growth can’t keep pace for per capita benefits to wash through. Combine the cost per person in new infrastructure demand and it the word Ponzi scheme comes to mind. GDP based on population stuffing ignores positive and negative “externalities”; a clever economists’ word to describe the unseen impacts of an outcome. Constant positive GDP has given rise, in concert with lower inflation, to cheap interest rates. The negative externality of cheap debt causes the maximalist behaviour in house owners; borrowing up to their eyeballs to “climb the property ladder”. Population stuffing has created demand for housing, add low-interest rates, and you get a housing boom, great if you are an existing owner, not so if you aspire to be one. For some, owning a home means moving State or relocating to regional centres far away from familiar family and friendship ties. Theoretically possible, but in an age of me, me, me, there’s little chance we will see wholesale migration out of the bulging State capital in NSW or Victoria any time soon. Positive GDP, great for housing but only if you can afford it. GDP masks productivity changes too. Australia’s productivity index is flattening out at 100. That’s terrible news; productivity should be the primary driver of positive GDP (The P is Product). A quarter of a century of comfortable economic conditions gives rise to inefficiency and idleness. Australia’s workers are going backwards in productivity, at a time when the machine age is encroaching on workers one and all. Not a healthy combination. Negative GDP means recession and recessions are aren’t they? Well, yes recessions are bad, Western Australia has been in one for four years, but thanks to seasonal adjustment revised numbers – another of the card tricks on offer. The data for WA GDP at a State level is massaged monthly so that no two following measures come out negative, thanks to revising the previous one every time the new one comes out. Don’t believe me? Check it out yourself. Laughable. The recession in WA has left households in negative equity territory, retail sales flat to negative and unemployment at around 6-7% depending on the workforce participation rate changes. Greater efficiency and less price gouging are positives for WA out of the four-year contraction in the State economy. Want a house built? Now is the time, the fat in the building industry is gone, gone, gone. For WA the GDP con has delivered a recessionary environment that encourages efficient allocation of resources. Not so in the East. Light rail in Sydney, road contract cancellations with billion-dollar penalties etc, the “other side” of the Federated States and Territories is living in an altered universe. Eventually, the GDP game will be up, no amount of population stuffing and gaming the system can keep it together. Jobs growth is another favourite. Politicians think politicians create jobs. No, they don’t, sorry for the truth syrup. But in taking the credit for the upside politicians must accept they also take the blame for any contraction too. Insofar as successive Governments have hung their shingle on positive GDP as a thing entirely of their making, any shift to the downside is their fault also. Dream on! But dreams, in this case, will come true, in the next term of Federal Government (3 years) the chances of a recession are pretty high. As such, the winner of the next election might turn out to be the loser if the public doesn’t buy the line that the recession was not their fault. The “Gross Deception of People” is about to get more deceptive. Watch this space. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

This is an updated post from Sam Ulrich. The mining industry mantra “Grade is King” is often used, especially in the gold industry. But is it true? Do higher gold grades automatically mean lower costs, potentially higher profits and possibly better returns for investors? What sounds so simple in theory is not in reality. At the single mine scale, the grade is king holds true. All the costs of extracting the gold and sustaining the operation, known as the All-in Sustaining Cost (AISC) on a per ounce basis varies with gold grade, where at higher grades, AISC is lower and vice versa. But when collectively comparing the Australian gold industry as a whole, such a relationship is not transferable between deposits. For example, in the September 2016 quarter the Gwalia gold mine processed ore grading 10.00g/t producing 67,118oz of gold at an AISC of A$774/oz (US$587/oz) and the Mt Rawdon gold mine processed ore grading 0.99g/t producing 24,878oz of gold at an AISC of A$764/oz (US$579/oz). Both of these mines will be two of the lowest cost gold mines in the September 2016 quarter, and yet their grades are an order of magnitude different. Most mines in Australia will have gold grades between these two mines and will have AISC higher, than these two mines. Collectively as an industry “grade is king” does hold true at the ore processing stage, but not at the ore mining stage (Figure 1). Knowing this, additional geological factors other than grade must have an influence over the operating cost structure of the mining operation. The minable geometry of the orebody generally decides the mining method, which influences costs, what derives this minable geometry? Answer, structure, mineralisation style(s) and grade. These factors combined with scale (size of the orebody) determine the costs. A good way to get a feel for this is what is the average gold ounces per vertical metre. Differences obviously exist between open pit and underground operations and the operations that use both mining methods. Whenever you hear that a gold resource is of good grade and better than, ding, ding, ding projects/mines, ask the additional important questions, what is the underlying structure, mineralisation style, scale of the deposit and how many average gold ounces per vertical metre does that relate to? It is easy to pull out a so-called comparable selection of deposits to show a gold resource in good light with respect to grade, but it does not mean it is any good. For an excellent recent summary of the Australian and New Zealand gold industry for the 2016 June quarter check out. http://www.cet.edu.au/news-and-media/news/news-details/2016/09/02/ravensgate-cet-gold-operations-bulletin The author, Sam Ulrich is a consultant geologist with over 20 years’ experience, primarily in mineral exploration, resource development and mineral asset valuation in Australia and Asia. He is presently undertaking a PhD part-time at The University of Western Australia, investigating the geological controls on the operating cost structure of Australian and New Zealand gold mines. The aim is to link economics with geology to understand the drivers of competitive advantage between gold deposits. He is contactable at sam.ulrich@research.uwa.edu.au LinkedIn Profile https://www.linkedin.com/in/samulrich Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

In 2009, I sought out to list a company on the ASX with the sole determination to discover the next gold mine or the next commodity mine. I looked at the market and decided that the best commodity is gold for the uncertainty and the fact that it has been over sold. The other was Uranium and that was because I believed that the cleanest and most efficient form of future energy is nuclear. Now, I was correct in predicting that the pricing of gold and uranium (Figure 1 and 2) would rise and the market will be there if you discovered the deposit. Now the fact that we could not find that deposit was the problem…… Although the uranium price did tank after Fukushima so technically, we could have found the deposit but the market was just not interested… :-). My story is not different to that of many explorers looking for a go, some come and go and some come and become monsters, such as Sirius Resources Limited (ASX:SIR), Sandfire Resources Limited (ASX:SFR; Figure 3), and maybe ………….. well nothing else really…….There are many other success stories but I cannot remember any significant discoveries that would fall into a “blind discovery” story, I am more than happy to accept the ones that have forgotten….. just a sign of old age….. I guess, Great Central Mines with Bronzewing and Jundee could well fall into that category but that is going back to the early 1990s. However, in my opinion, the Nova story is the most impressive and I am sure, every exploration geologist would like to write as his or her own. I for one, would have liked that to be my story, but it belongs to Mark Bennett and the Sirus team. The exploration process or sequence is pretty well captured by a article written by Brendan Jephcott in Linkedin. It is a well written article and gives the reader a good understanding of how it went from a grassroot exploration project to a major discovery that is worth every dollar spent in exploration. (https://www.linkedin.com/pulse/nova-bollinger-ni-cu-deposit-brief-history-brendan-jephcott-{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}E4{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}B8{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}81{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}E4{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}B8{e84228ce8c9f7001611629be1db85467cf541581cf1fd5424de0612b3249e3f5}81) A couple of YouTube videos of Mark Bennett is excellent for those that are interested. The presentation is made to the Australian Institute of Geoscientists so its a geological presentation. What is a good note is that in the Q and A part, you can pick up that the discovery is primarily a test and see method. His title of WHO DARE WIN is exactly what EXPLORATION is all about and that is why I loved the Nova story. Presentation of the discovery by Mark Bennett – https://www.youtube.com/watch?v=TIk3nCBtuC4 Q and A with Mark bennett after his presentation – https://www.youtube.com/watch?v=TGryOpjM2o8 Sandfire has a similar story but my point is that there has not been many major discoveries in recent time that is worth mentioning. There have been success stories where companies have extended mineralisation in old mined deposits or discovery of major deposits within the mineralsied zone. Probably the best is that of Trident Gold Mine which was discovered by Avoca Resources. It had a resource of over 900,000oz. The company discovered the deposit after near mine exploration. The other is the Invincible deposit discovered by Gold Fields Australia just south of “Kambalda Goldfields”, (http://diggersndealers.com.au/wp-content/uploads/2014/03/GoldfieldsDiggers-Dealers-Invincible-FINAL-for-DD-Presentation-Copy.pdf). The AUSIMM published a very interesting article in 2015 titled, ” Tackling the crisis in mineral exploration” https://www.ausimmbulletin.com/opinion/tackling-the-crisis-in-mineral-exploration/“ This is a very economic article on the merits of exploration and why exploration is very important, complicated and expensive. I would strongly recommend a good read as this will really caputre the real essence of why we need to explore. It makes a very interesting read and it highlights out the increasing cost of discoveries. I believe that the cost of discoveries are due to many factors such as greater depth, greater difficulties in finding deposits, greater cost of labour…etc However, the lack of discoveries is significant as that means the rate of replenishment is not being met and in many circumstances, the supply is going to be lacking behind demand. With this in mind, expenditure into exploration will need to increase in the near future and all the neglected advanced exploration projects will eventually demand value and those that sit on the sideline now will be regretting this lack of movement now. For those who wants to understand who I consider a modern day prospector who has made persistent prospecting a real success, have a look at this …… Mark was a prospector for almost 20 years before his first major win and that was the Bronzewing Gold deposit which he sold for about AUD150M. It was another 20 years before his next win and that was the Nova Nickel Deposit, and I think he sold his remaining share for a total win with Nova of about AUD600M+. https://www.youtube.com/watch?v=yABf8vBW6LA On a final note, this is what exploration is all about on a small sacle…. just for fun, watch this………. https://www.youtube.com/watch?v=QXahfkEia2g https://www.youtube.com/watch?v=wrz-Qf-WM-c Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Coffee with Samso Episode 5 with Miguel Maron & Bryan Raeburn, Area5football and Australian Minifootball Federation In this episode of Coffee with Samso, we meet Miguel and Bryan, the President and Vice President of the Australian Mini Football Federation. They are are the organisers of the 2019 Mini Football World Cup to be played in October 2019. The World Mini Football organisation announced the go-ahead earlier this year. Viewers will find that this is a great concept. The Mini Football World Cup could be a great way for entrepreneurs to get involved. The last world cup in Tunisia had a worldwide audience of 800M. With this kind of audience, there are a lot of opportunities for brands to get noticed, especially local Brands in Western Australia and Australia. Bryan Raeburn is a director at Area5football and Vice President at Australian Minifootball Federation. Miguel Maron is a director at Area5football and President at Australian Minifootball Federation Australian Mini Football Federation Area 5 Football PODCAST 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

Coffee with Samso Episode 3 with Paul Werndly, our resident food scientist This week, Coffee with Samso is all about superfoods and lupins. An article from The West Australian about a local company making food products from Lupin inspired this episode. In this episode, Samso speaks to our resident food scientist, Paul Werndly, about the good sense of infusing lupin into our diet. Lupins have a low glycemic index and are high in protein. As a product, Lupin is making a lot of business sense for aspiring entrepreneurs to get into this business. Remember that the world population is now facing a diabetic epidemic of hundreds of billions of adults all over the world who are facing Type II diabetes. To ignore this market is like neglecting the business sense of embracing the internet. The message from Coffee with Samso is that there are companies out there that are supplying these healthy alternatives. It sure is more fun snacking on a packed of lupin chips than sliced carrots or slice celery sticks… Well, the thought of munching on “chip” feeling snacks is more appealing. PODCAST 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

Coffee with Samso Episode 2 with Paul Werndly, Naturopath, Healthy Cooking Coach and Educator In the second episode of Coffee with Samso, Paul Werndly is talking about the Glycemic Index (GI). The term is widely used but not fully understood. It is one of the most important measures that we should have to help us maintain a good diet and stay away from becoming a diabetic. In China, nearly 11% of the population has diabetes and up to 39% are considered prediabetic. That is over 300 million adults that fall into that category. Paul Werndly is a very astute and knowledgable person in the space. I met him over at a function at the launch function held at No Menu Restaurant in Mount Lawley. Fantastic food. We got talking and we found that we had a good understanding of where the health and food industry is heading so we thought that it was a good idea to have a Coffee with Samso. What I want to highlight in this conversation is three main points, firstly it is the understanding of what GI is and what it can do to help monitor our sugar intake. Secondly, it is the topic of what is the consequence of not monitoring our sugar levels. The last point is the commercial upside for companies that are swimming in this space. If you thought that the milk “gold rush” was attractive, you have got to understand what this “diabetic” issue will mean to a company selling products that can reduce this issue. Companies such as Hollista Colltech (ASX: HCT), the Sunrice Group, Ricegrowers Limited (ASX: SGL) and CSR (ASX: CSR) are some of the companies that I have looked at who are supplying low Gi products. I hope you find the information useful and please share and leave comments. What is GI? Rice and Glycemic Index The diabetic problem in China and Malaysian Favourites Conclusion PODCAST You can listen to the conversation via a podcast below. Paul Werndly – Details Paul Werndly ND is a Naturopath, Healthy Cooking Coach and an Educator with 25 years of experience. He has lectured in all areas of Natural Medicine, history and philosophy. Paul has also been a journalist for the West Australian Newspapers and a Natural Health Professional. His speaking experience ranges from corporate presentations, cooking classes, designing and presenting short courses and seminars. He has worked with businesses such as Chevron, Gorgon Project, The City of Perth, Disabilities Services, Red Cross, Royal Flying Doctors Holy Name Child Care and many other corporate entities. Paul has also worked in cafes, organic food stores, restaurants and as a healthy cooking coach for over two decades. He has also authored two books on social psychology and social dynamics. Paul Werndly has the following details, https://www.linkedin.com/in/paul-werndly-625a9b19/ https://www.facebook.com/PaulWerndlyND/ Email: natural.healhcare@hotmail.com What is the Glycemic Index (GI)? According to Diabetes Australia, the following is the definition of GI, The glycemic index or GI ranks carbohydrates according to their effect on blood glucose levels. The lower the GI, the slower the rise in blood glucose levels will be when the food is consumed. The effect may differ from person to person. Diabetes Australia recommends that people with diabetes have moderate amounts of carbohydrate and include high fibre foods that also have a low GI (not all high fibre foods have a low GI). Some research has shown that by eating a diet with a lower GI, people with diabetes can reduce their average blood glucose levels. This is important in reducing the risk of developing diabetes-related complications. GI numbers are to be used as a guide only as individual foods do not have the same response in all people with diabetes. What is low and what is high GI? Low GI foods are foods with a GI less than 55. Intermediate GI foods are foods with a GI between 55 and 70. High GI foods are foods with a GI greater than 70. 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

Rooster Talk Episode 5 with Paul Werndly, Medical Naturopath In this session of Rooster Talk, Samso is talking to Paul Werndly about how to help ourselves while we are dealing with COVID-19. A view from a Medical Naturopath on understanding the issues and what we can do while we are doing Social Distancing. We are hoping to do this as a weekly segment. Let us all try our best to be healthy while doing the right thing in self-isolating. PODCAST 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