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A legendary journalist in the Australian Minerals Industry, Ross Louthean has been active in this industry since the 1970s and he has seen everything that has come across the ASX, good and bad. This is a special episode of Samso Insights as I try to get the legendary Ross Louthean to share his thoughts on our mineral exploration industry. Our conversation centered on his experiences over the years and how the industry has changed since the early days of "punting" the stocks that is in the everyday lives of small cap investors today. I will be getting Ross back on Samso Insights as he has many more nuggets of wisdom to share and one episode will not do it justice. So look out for more content from Mr. Louthean in the coming future. Dont forget to check out https://www.australiannickelbook.com/  where you can purchase the book on Australia's nickel Adventure. Video Chapters 00:00  Start 00:20  Introduction 01:11  About Ross 02:35  How do you stand out from the crowd? 04:13  Strength of commodities 07:15  Paid journalism 08:55  Any regrets about past stories? 12:21  Golden years in New Zealand? 15:03  Sharing about a processing hub. 18:15  Is it harder to find discoveries now? 19:53  Long term commodities. 20:36  The Lithium and Rare Earths story. 24:25  The Poseidon Story. 27:55  All-in sustaining costs in mines. 29:08  Looking back at Kalgoorlie and other mining towns. 30:21  How do companies stand out from the crowd? 32:05  Words of wisdom to mining companies. 32:54  What should gold miners do to get up on the podium? 34:01 Words from Ross. 35:43  Conclusion About Ross Louthean Journalist Ross Louthean began his media life in the engine room of WA Newspapers in the early 1960s.  He wrote for the West Australian and Daily News, and then joined the Whyalla News and after 18 months became regional journalist for ABC News in Port Pirie. Ross was then transferred to the same position in Kalgoorlie at the start of the nickel boom and two years later joined the Daily News as a business and political writer, then became a freelance writer with a photographer in Kalgoorlie for several publications. He was later lured to Sydney by Max Newton to edit The Australian Miner but with changes in that empire, he returned to Perth to launch the National Miner and later the Register of Australian Mining for Lang Hancock. Later he started Mining Monthly and Lodestone Press. When this business was sold, Ross developed ASX listed Resource Information Unit. When the company was delisted, he left to develop Louthean Media (later Paydirt Media) before becoming a freelance writer working for overseas publications and websites. This journey led to the partnership with Carl Knox-Robinson to develop NZResources.com which ran for several years before the changing political views in New Zealand made it unviable. Louthean writes for friends' websites and remains on the committee of Diggers & Dealers, and co-wrote three books “The Mining Revolution (on diamonds), “Australia’s Nickel Adventure” and “Doug McGay Story - From Paddy Hannan to Genghis Khan” . Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------ Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

In this episode of Samso’s Exploration Discovery Series, Ian Murray and Justin Osborne of Gold Road Resources (ASX: GOR) recount the journey behind the remarkable discovery of the Gruyere Gold Deposit, now holding nine million ounces of gold. Their story reflects the importance of challenging conventional exploration theories and making critical decisions that led to a significant find in the Yamarna Belt, previously thought to be unmineralised. The conversation dives into the excitement of discovery, the strategic pauses that allowed for thoughtful exploration, and the pivotal joint venture with Goldfields, which propelled the Gruyere project forward. Their insights reveal how successful mineral exploration often involves risk, innovative thinking, and corporate decision-making. This blog is ideal for investors and exploration enthusiasts eager to learn about the decisions and challenges that shape major gold discoveries, showcasing the potential rewards of strategic exploration in untapped regions. Sign up for your membership on Samso Insights on Patreon to read more exciting investment stories. Three types of membership on Samso Insights Choose one or more: FREE : These insights  are free and available to all investors. Subscribe here  for free. PAID MEMBERSHIP : If you are a bold investor and want more, you get access to the latest and most reliable information from experienced sources that are completely unbiased starting from US$10/month. Start accessing our exclusive content to help with your investment research . PAID ARTICLES : Trustworthy source of well-researched and independent information for investors. Choose what interests you and unlock your choice of article from US$10. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso

Samso's driven purpose The Samso experience has always been about identifying a good story and then sharing that on our platform with uniquely acute insights. As Samso developed, one thing has never changed. The motivation has always been to share our Insights with a purpose to showcase the potential of every story that will allow readers, viewers and listeners to understand and DYOR. As the market gets complicated and investors are running for cover, I felt it would be a good opportunity to share my thoughts on companies that have been largely ignored due to a lack of market love. It's something that I feel will give an extra viewpoint that may be of use to readers :-) The Tale of Two Journeys For those readers who have been following the Coffee with Samso  series, they would know of Aurumin Limited (ASX: AUN) . I have been covering Aurumin for a while and I am now more optimistic on their story.   We at Samso are not recommending Aurumin as investment (we are not authorised to recommend any financial products) , but rather, we are showcasing them to create awareness in the community. As an exploration geologist and thinking in that kind of space consistently, I  have said it many times in the videos what I like about Aurumin. What I like about Aurumin Limited (ASX: AUN) The company's latest announcement (Released 31st October 2022)  should give readers good reasons to get some research happening. The basic information is the upgrading of the Two Mile Hill Underground resource to 574koz @ 1.6 g/t Au.  Why is this significant?  Well, when the company took on the project, the Two Mile Hill UG resource was 500,000 ounces at a grade of 1.1 g/t Au. This upgrade is the first step to making the Sandstone project a legitimate mining proposition. When I talk to people about the potential of this acquisition, the consensus was on the ability of Brad Valiukas and his team to show that the Two Mile Hill UG resource could be upgraded. According to Brad, what will be required to make Two Mile work is this: 800oz/vm at 2g/t works well. So long as we can keep the bulk (30m high, 20m wide stopes). We are currently at 1,400 ounces per vertical meter at 1.6g/t, but there is no allowance in that for extraction percentage (pillars). Cut off grade at current gold prices is about 1g/t (plus or minus depending on the mill size), so both the resource and target have some margin. We are close, hence we will      start some internal scoping work. I think there is still upside with the UG. There is room for some extension north and south, and more data could bring the grade up again. As the company manages its exploration activities, one of the main questions is, what are the steps moving forward? What will Aurumin be doing in the coming 12 months? 2Mile Hill is currently still inferred. I really want to see what I can get out of some scoping work before making a call on the next expenditure. The best place to drill it from is UG, probably from in the tonalite and drilling perpendicular to the ore zones and veins, hitting the contacts both east and west. At the moment, drilling from UG is as cost effective as drilling it out from surface, plus we would be UG at the top of the ore body, ready to mine. Some big calls to make. One of the most important aspects of any mining proposition is the combination of grade and resource.  I was curious about this and I asked Brad this question, in regards to the Sandstone/Two Mile Hill project. HIs comments were as follows: On a macro scale, it is mostly about grade. But more is always better. More surface resource gives me space to mine the UG while pits are filling the mill. And, as above, some sweeteners would be good. Aurumin is now all about the Sandstone project. According to the website, the Central Sandstone Project is located 12km south of the township of Sandstone, ~520km northeast of Perth, and located on a sealed highway between the mining towns of Mt Magnet and Leinster in the East Murchison Mineral Field of Western Australia. The Central Sandstone Project comprises granted tenure covering 112km2, including two granted Mining Licenses. The Central Sandstone Project also includes a non-operating 500,000tpa CIL processing plant, all associated infrastructure, operating licenses, permitted tailings storage facility and bore field, and camp facilities located on freehold title within the nearby town of Sandstone. History of the Central Sandstone Project (Source: Aurumin Website) In excess of 1Moz of gold has been produced from surface, open pit and underground operations in the Sandstone area since the 1890s. In addition to historic mining activities, more recent gold production is variously attributed to Herald Resources Limited in the 1990s and Troy Resources Limited (Troy) from 1999 to 2010. Troy extracted and processed a combined total of approximately 4.4Mt open pit of ore at an average grade of 3.6g/t Au for production of 508,000oz gold before the operation was placed on care and maintenance in September 2010. Middle Island Resources (Middle Island) acquired the Project in 2016 and explored the Project up until 2021. In December 2021, Aurumin entered into an agreement to acquire the Central Sandstone Project  from Middle Island for $12 million in cash and shares.  This acquisition came with a complete package of a largely disjointed region of ownership previously. Geology of the Central Sandstone Project Gold mineralisation is hosted within the Sandstone greenstone belt within the Southern Cross Province that forms the central spine of the Archaean Yilgarn Block. The Sandstone greenstone belt forms a classic ‘hourglass’ structure at the northern end of the Diemals Dome, where two major trans-current structures, the Edale and Youanmi faults, respectively confine the eastern and western margins of the belt. Source: Aurumin Limited The Story of Aurumin Aurumin is a low market capitalisation company that has hallmarks of greater things.  As I write, the market cap is around AUD11M.  This is a company with nearly 1M ounces of gold in which over 500K ounces is in the Two Mile Hill deposit. I like the gold industry and it is very rare to find a story like Aurumin. I titled this blog "The Tale of Two Journeys" because I feel that Aurumin has two journeys to complete. The production path is very clear but I think the consolidation of all the exploration upside will make them achieve the miner status much faster. The exploration that Aurumin is doing is not grassroots but to consolidate the known resources. The upgrading of the Two Mile Hill resources will continue to take place. Conversations with Brad on our Samso platform are proof that the management of Aurumin has implemented a plan and has executed it well, at this time. Coffee with Samso: Aspiring High Grade Gold Miner: Aurumin Limited (ASX:AUN) Aurumin Limited (ASX:AUN) - The Making of a Gold Miner Aurumin Limited (ASX:AUN) - Developing the Gold Mining Story Rooster Talk: Aurumin Limited (ASX:AUN) - The Beginnings of a Gold Producer. Aurumin Limited (ASX: AUN) - Central Sandstone Resource Update. When Brad and I had the very first conversation in March 2021 (COVID never existed), there were valid reasons to doubt the company strategy. The plans were new and the potential upside were vague and felt a bit far away. It was not that they could not achieve, it was more about time to complete the task at hand. If you have been in this game as long as I have, you will know that acquisition was in the air.  The time to do things in this industry is measured in months, otherwise, your hare price is going to move in the wrong direction, and if that happens, it normally ends in the wrong place. The Solution to the Problem Forward to 2022, the scene is very different. The sentiment for gold may not be as flavourful as Lithium. However, one has to remember that Brad Valiukas comes from big company thinking. Big company thinkers are always looking at expansion and creating economies of scale. The recent upgrade in resources at Two Mile Hill is showing that the numbers will make the league. It's just a matter of drilling and creating more data points. The numbers will improve if the recent drilling program is a precursor of what's to come. The competitive advantage for Aurumin is the potential plus 500K ounces (Two Mile Hill Underground) of near 2g/t dirt and the Mill. Some may say that the Mill is worthless and should be replaced. However, the location of the Central Sandstone Project  makes it strategic to offer a central processing center. If anyone has been in business, location is everything. The figure above will show that a central processing hub is best in the middle. It would make total sense if the central processing Hub has a good resource of gold itself. If you expand the story to include the ounces that may come up from Southern Cross and Johnson Range, you have ounces that cannot be replaced. Here is a good take away -Sandstone is in between the Gidgee and Youanmi region.  A centralised processing center that only really works well for the guy in the middle. The final point is that Brad worked with Northern Star and Focus. Look at how those two companies (different fortunes) grew as a company. Northern Star had Paulsens Gold Mine and that was like a starter project. Do Your Own Research and reach out to management. Aurumin is currently doing a Rights Issue  and this may be a great time to approach the company and get the facts. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------ Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Anna Petts, Program Coordinator - Characterising South Australia's Cover at Geological Survey of South Australia. To many people the Gawler Craton is famous for IOCG deposits (Iron Oxide Copper Gold). The most famous mine, Olympic Dam  started the rush for these giant deposits. When it was announced that there was this monster of a drill intercept, RD10 with 145m at 2.2% copper together with uranium and gold, this news created a rush like the wild west where everyone flocked to the region. Subsequent to the rush, two other famous discoveries were made and they are Prominent Hill  and Carrapateena .  However, it was not until 2001 when Prominent Hill was discovered and in 2005 that Carrapateena was discovered.  All this action was in the eastern region of the Gawler Craton and this region was named the Olympic Metallogenic Belt or the IOCG Belt. Figure 1:   The Olympic Cu-Au Province in the context of the geology of southern Australia. The main lithotectonic units of the Gawler Craton and Curnamona Province are shown and are interpreted from surface observation and geophysical data. The Olympic Cu-Au Province occurs in the eastern Gawler Craton and also indicated is the Central Gawler Gold Province, a gold-dominated metallogenic province formed during the same early Mesoproterozoic tectonic event that formed the Olympic Cu-Au Province. Inset shows the location of the Gawler Craton and Curnamona Province in the context of major Archean and Proterozoic terranes of Australia. (Source:  Reid, Anthony. (2019). The Olympic Cu-Au Province, Gawler Craton: A Review of the Lithospheric Architecture, Geodynamic Setting, Alteration Systems, Cover Successions and Prospectivity. Minerals. 9. 371. 10.3390/min9060371. The complexity of the surrounding area is not for the faint hearted as they are still arguing about the origins and formation of Olympic Dam.  Figure 1 gives a high level summary of the Gawler Craton and its different geological events. There is no doubt that there is no simple answer, but what the mineral explorers do know very well, is that their Return On Investment (ROI) here is not high. For this reason, the Gawler remains one of the least explored regions on the Australian continent. Hence, this discussion with Anna Petts is all about the prospectivity of the Gawler and what the Geological Survey of South Australia is doing to help explorers have the edge and the resources to understand and explore the region. Gold Discovery in the Gawler Craton In 1995, there was the discovery of a gold mine in the other half of the Gawler Craton - the more "boring" part which birthed the Challenger Gold Mine. This set up a rush to the area, but, till today, there is still no Challenger replica. To me, this has got to be one of the mysteries of Australian mineral exploration. If you draw a radius of 100km from the Challenger Gold Mine, there is nothing that is better than a prospect to be found (Figure 2). It will be pretty safe to say that the lack of discoveries is probably due to the fact that the last 20 years of exploration has been few and far between due to a lack of exploration funding and the historical low ROI in looking for minerals in the Gawler Craton. Figure 2:  The spatial emptiness of big discoveries within the Gawler Craton. The comparison to a typical mining town like Kalgoorlie, there are too many producing assets to count. (Source: Taiton Resource Limited ) Why I like the Gawler Craton My first introduction to the Gawler Craton was way back in 2019 when I looked over the Jumbuck project. Figure 2 was the result of that exercise when I was involved in trying to list a company with the project. I could see that there had not been any serious exploration in the region. The conversation that I had with people was that it is hard to make discoveries. The geophysics were not picking anything up. There was not enough data out publicly that companies could use to make discoveries. The lack of success was biting into exploration funding. Imagine a province like the Gawler Craton that still hides major discoveries. Look at the statistical probability of not finding another Challenger. This has to be a great place for the average mineral explorer who has the courage to test their exploration skills. Looking at the western province of the Gawler, the western part of the Stuart Highway, there are no producing mines currently. There are three deposits (Challenger is closed) that exist and two are currently being drilled out to see if they make the cut to become producing gold mines. In one conversation, I was told that while drilling for iron ore, they came across a Gossan.  This shows the variability of the area. It was only two to three years ago that the south-western part of the Gawler was identified as a new nickel sulphide area. Samso's Conclusion So what do I make out of this conversation with Anna? What I got out of it is that there is now a flow of data that is being made public for explorers. The understanding of the Gawler is going to take a magnitude step forward in the near future, if not already. The testing of theories is now being played out with companies such as: Indiana Resources Limited (ASX: IDA) , Cobra Resources Limited PLC , Investigator Resources Limited (ASX: IVR) , Petratherm Limited (ASX: PTR) , Barton Gold Holdings Limited (ASX: BGD) , Marmota Limited (ASX: MEU) Taiton Resources Limited (ASX: T88) The company that I am involved with is testing the concept that there is an unloved and unrecognised mineral system in between the Olympic Dam Belt and the Gawler Craton gold province (See Figure 3). The concept of a theory like this can be easily considered to be shooting with a long bow, but the recent announcement has made good evidence that there could be some truth to the madness. Figure 3:  The region that Taiton Resources Limited is testing its theory that there is a mineral system in the region (Red) which is now proven to be tapping the same source as the Olympic IOCG Belt (Green). The zircon test has come back with age of 1597.8 Ma, which is atypical of Olympic Dam. (Source: Taiton Resources Limited ) . The concept is that the red region (Figure 3) has been misinterpreted in the past and there lies a mineral system that may be fertile and endowed with mineralisation. This is the postulation and as mineral explorers, we are supposed to be testing the boundaries of belief. The role of the explorer is to come up with the ideas and the concept, and of finding minerals where others have missed. The role of the Geological Survey is to provide the tools and the solutions to aid discovery. After speaking with Anna, I feel that the Geological Survey is contributing a lot at the moment. The theory for  Taiton Resources  came about due to the data release in around 2020. The idea was born and the money was raised to test the theory. As a director of the company and as the person who spoke to the vendor of the Highway project , David McSkimming, I will say that the theory for Highway is the best I have heard. I like the idea that there is a different thinking to understanding the mineral system in this region. What the company has done to date has proven that this theory is still valid. Not only have we proven that our original story is valid, but we also think that we could be on the edge of two tectonic events and that would mean we are sitting on the margin of a major structural feature. We all know that major structural features are the blessings for an exploration project. None of what I had described would have been possible without the work generated by the Geological Survey of South Australia . Anna has clearly described what the Survey is doing and what datasets are now available. The new datasets will allow future explorers to take on what is potentially the last mineral province that has not been searched with intent for the last twenty years. Video Chapters 00:00  Start 00:20  Introduction 01:51  About Anna Petts 02:24  Disclaimer 03:04  The potential at Gawler Craton 06:07  The cover at Gawler Craton 10:39  Uncovering the lack of recent significant exploration stories 16:52  The exploration government initiatives 20:05  Potential mining hotspots 25:17  Understanding the overall complex of the big discoveries 29:01  Prospectively at Gawler Craton 32:31  All about the Ultrafine+ project 44:39  Potential mining location worth looking at 46:10  Conclusion Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------ Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.ure. Coffee with Samso Experience

Embark on an odyssey into the world of Clay Rare Earths, a captivating journey through uncharted mineral potential. In today's Samso Insights, we had the privilege of engaging with Dr. Diana Zivak, a distinguished Senior Geologist from the Geological Survey of South Australia . Dr. Zivak skillfully shares a wealth of knowledge that goes beyond traditional boundaries. Her articulate discourse invites viewers and listeners on a captivating journey as we explore information that resonates with the public. Dr. Zivak, an esteemed expert contracted by the Geological Survey of South Australia, has provided valuable insights into the Clay Rare Earths journey. Her observations have shed light on the remarkable qualities and limitless possibilities of this geological phenomenon. For followers of the Samso story, the hopeful excitement about the geological potential of South Australia is widely recognised. This episode of Samso Insights is an absolute treat for those who are into exploration and innovation. Explore the fascinating world of the Clay Rare Earths Story, where Chemistry and Geology intertwine to reveal new possibilities for progress and prosperity. Dr. Diana Zivak's groundbreaking work has revolutionised our knowledge of geological wealth, sparking curiosity among those who are uncovering the untapped potential of South Australia. Samso's Conclusion The Clay Rare Earth sector is an ongoing learning experience, with few claiming to have complete knowledge. Currently, the market serves as the ultimate judge of this sector's dynamics. Rising stock prices are seen as a sign of success, while falling share prices are viewed as unfavourable. The current knowledge is based on a measurement that may not be the most authoritative. According to Dr. Diana Zivak, the industry is uncovering numerous Clay Rare Earth projects, each with its own characteristics. These projects are not identical, resulting in different enrichment processes for each deposit. The complex terrain adds complexity to the search for the best project formula. West Cobar Metals, through its Salazar deposit, has identified Gallium, which could potentially be a precursor to other valuable by-products in the Salazar project. GALLIUM IDENTIFIED AT NEWMONT REE DEPOSIT In my opinion, it is important to have faith and perspective when considering the long-term outlook for the REE market. I believe that maintaining a positive outlook for all commodities is crucial, especially considering the ongoing efforts towards decarbonisation. During our conversation, Dr. Diana Zivak and I explored the vast possibilities that exist in South Australia. This discussion is of great importance considering the limited amount of focused mineral exploration in this area. Despite valid historical factors, the potential for discovery remains untapped. The geological landscape of South Australia still holds many mysteries waiting to be uncovered. As the Geological Survey continues to release data, those who take early action have the opportunity to reap significant benefits. Video Chapters 00:00 Start 00:20 Introduction 01:48 About Dr. Diana Zivak 06:17 Where is technology today in terms of the analytical part? 09:13 The clay hosted rare earths story 19:19 Is Geomorphology a factor? 25:22 Heavy rare earth metals 31:56 Discussion about the Gawler 42:22 Multi-commodity processing 45:14 Discussion about lithium in South Australia 49:55 Different mineralisation styles 53:02 Closing comments 56:05 Conclusion About Diana Zivak Diana Zivak, an accomplished geologist with a decade of experience in academia and mining, specialises in diverse geological aspects including tectonics, geochronology, geochemistry, and mineral chemistry. Her proficiency extends to various analytical techniques such as laser ablation, ICPMS, and electron microscopy. Presently a postdoctoral researcher at the University of Adelaide, Diana is leading projects on REE enrichment in Queensland's phosphorites and provenance analysis of Murray Basin's mineral sands. She also contributes actively as a councillor for the Geological Society of Australia (GSA) and co-Chief of GSA's Early Career Geoscientist Advisory Panel (ECGAP), reflecting her commitment to empowering emerging geoscientists. Diana's ethos revolves around embracing complex geological challenges with fervour and resolute determination. About Geological Survey of South Australia The   Geological Survey of South Australia (GSSA)   collect, manage and deliver information and knowledge of South Australia’s geology, particularly for its mineral resources prospectivity. Please click   here   to find out more about the Geological Survey of South Australia. Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------ Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

Andrew Drummond is the author of two books, Rocks In Our Heads and More Rocks In Our Heads. He is a seasoned geologist who has seen and done numerous things that can only be described in a book and on Samso Insights. The book is a compilation of stories that showcase the extraordinary lengths which geologists are willing to go for the love of the job. This is a great insight into the thinking and the passion that make geologists such a special breed. Geologists do what they do for the love of the adventure and the discovery. I think this is the nearest profession that takes the mind into the realms of adventure - the kind of adventure that is promoted in movies such as "Raiders of the Lost Ark". These guys are the "Indian Jones" of the world. The guy sitting in the African, South American, Mongolian pubs after a day's work is what this book brings to the everyday readers. People today think that the guy in the office is the real geologist or the guy sitting on a drill rig logging cores. They are not the ones that make these jobs available. It is the one who goes into the heat, rain, and sometimes dangerous places that makes projects work. A story that I know which is not in any of the books, is that of Caigan Wang, the Managing Director of Tietto Minerals Limited (ASX: TIE)  who has the sheer tenacity of going into the business of Africa to get the project for the company. The story of Caigan Wang is a story that could be in the two books written by Andrew Drummond is all about. If you want to have a good read about how some of these non-Australian projects work and not work, or have an understanding of the amount of work that is required, get these books and get ready for the real adventure of exploration. You can get these books by emailing Andrew Drummond at andrew@ajdrummond.com.au.  or visit www.morerocksinourheads.com.au Video Chapters 00:00   Start 00:20   Introduction 01:29   Andrew Drummond - Introduction. 02:54   The Background of Rocks In Our Heads. 05:52   The Essence of the Book. 06:24   Rob Duncan - A Chopper In Poli, Cameroon, 1975. 10:03   Do the old levels of determination still exist? 11:22   Tony Gates - East Timor, 1999. 14:49   Andrew on the future of the mineral exploration sector. 19:10   Rome was not Built in a Day. 22:11   The rollercoaster ride of a Geologist. 23:34   The exploration surprises. 24:14   Are there still Giant deposits to be discovered? 26:03   Where could be the next Frontier? 28:00   The Wild Card discovery of Julimar. 28:36   The Key of a Mineral System Exploration. 29:09   The Difficulty of Making a Discovery - More Rocks In Our Head. 31:05   More Rocks In Our Heads - Ore Bodies are Hard to Monetise. 33:09   The Hard stories of Real Mineral Exploration. 34:20   How do you Convince the Market you have a Good Project? 37:26   The Opportunities of a Big Brother. 38:30   The Motivation of the Chase to Discovery. 41:26   Andrew's reflection on the two books. 42:22   Conclusions About Andrew Drummond Author and Geologist Andrew has recently retired from the mineral industry. He had a strong and successful background in the identification and acquisition of major mineral properties and projects; promoting and raising and managing of capital for their advancement; and in listing and managing public companies. He has been a, or the, principal driver of ASX-listed Zephyr Minerals NL (now Lepidico Minerals Ltd), Westonia Mines Ltd (now Evolution Mines Ltd), Bonaparte Diamond Mines Ltd, and Minemakers Ltd, for each of which he has been an executive director. He has also been a director of several other ASX-listed and public unlisted companies, and of companies listed on the Toronto or Namibian stock exchanges. Andrew had extensive experience in exploration, feasibility and mining in Australia, New Zealand, Namibia, The Philippines, Russia, China and several other countries. Andrew is a geologist, having graduated with B.Sc (Hons) from Adelaide University in 1973. He is a FAusIMM, MGSA, and MAIG. He has recently collected and edited a suite of stories, by largely Australian geologists concerning their efforts trying to find, deal upon or develop mineral deposits in far flung and exotic parts of the world. The stories have been published as "Rocks In Our Heads". The second book is called "More Rocks In Our Heads". Get Deeper Insights The latest and most reliable information from experienced sources, that are completely unbiased are now available through a Paid Membership. Sign up here  for a more trustworthy source of well-researched and independent information for investors.  ------ Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. ------ About Samso Samso  is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research. Coffee with Samso Experience

As we prepare to wrap up 2023, what better way to end than to have a fresh Coffee with Samso? Episode 193 is with Brett Hazelden, Managing Director and CEO of OD6 Metals Limited (ASX: OD6). The focus of the Rare Earth story has shifted to the realm of chemistry. It is widely believed that companies will disclose mineral resources large enough to support their operations. However, the cost of the chemistry required to generate revenue and profits remains uncertain. In this episode of Coffee with Samso, Brett Hazelden presents a compelling argument for the OD6 Metals story. The market is currently muddled with confusion regarding the ultimate objective of these clay rare earth projects. Brett, an experienced metallurgist, shares his insights on the downstream process in this must-watch episode of Coffee with Samso. If you're interested in the Rare Earth sector, this is a valuable discussion for you. Samso's Conclusion If you have been following the Samso platform, you may have noticed an increase in Rare Earth stories recently. The rare earth industry is undoubtedly complex and confusing, with a cloud of uncertainty surrounding its future. However, after attending the rare earth conference in Canberra, I can confidently say that my doubts have been cleared. It's important to note that my optimism does not mean the sector is heading for a bull run. Rather, I believe that companies that remain focused on their work and can secure funding will benefit from the strong future demand for rare earths. Securing funding during this period is crucial. In a way, the current market can be seen as a reset for the valuation of rare earths. This is the perfect time to do your own research (DYOR) as an investor. If a commodity boom is on the horizon and rare earth metals are part of that trend, conducting thorough research now will be beneficial. Chapters: 00:00 Start 00:20 Introduction 01:03 2023 recap 03:32 Understanding the chemistry 07:14 Lowering the costs of production 09:45 Discussion about ESG 11:27 What is driving the economics of these clay projects? 15:46 Difference between Australia and South America - grade and processing route? 19:38 Takeaways from the Canberra REECon 26:16 What’s on the cards for 2024? 32:03 Discussion about the rare earth market price 35:14 News flow 36:04 Final thoughts 39:46 Conclusion PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Brett Hazelden Managing Director & Chief Executive Officer BSc, MBA, AICD Mr Hazelden is a Metallurgist who brings over 25 years’ experience serving the Australasian resources industry. His experience includes being a Company Director, Managing Director, CEO, Project Manager, Study Manager and originally a Metallurgist in an operating environment. Mr Hazelden brings a diverse range of capabilities from exploration, project development studies, research and development, project approvals, offtake agreements, equity raising, debt financing plus mergers and acquisitions. He has worked across multiple commodities including potash, gold, copper, zinc, lead, iron ore, tungsten, salt, diamond and now rare earth sectors. Most recently, Brett was the Co-founder and Managing Director/CEO of Kalium Lakes (ASX:KLL). Mr Hazelden was appointed as a Director on 1 April 2022. Mr Hazelden is not considered to be an independent Director as he is engaged in an executive capacity. About OD6 Metals Limited (ASX: OD6) OD6 Metals is an Australian public company with a purpose to pursue exploration and development opportunities within the resources sector. The Company holds a 100% interest in the Splinter Rock Project and Grass Patch Project which are located in the Goldfields-Esperance region of Western Australia, about 30 to 150km north of the major port and town of Esperance. The projects are considered prospective for clay rare earth elements (REEs), with the Company’s aim of delineating and defining economic resources and reserves to develop into a future revenue generating operational mine. Clay REE deposits are currently economically extracted in China who is the dominant world producer. Rare earth elements (in particular, Nd and Pr), are becoming increasingly important in the global economy, with uses including advanced electronics, permanent magnets in electric motors and electricity generators (such as wind turbines) and consumer electronics. Why OD6 Metals? Emerging REE major new clay province in WA, potentially competitive with China’s deposits. Dominant land position with over 4,800 km2 Located close to Esperance port, sealed roads and renewable energy infrastructure. Extensive Clay REE in 10 to 37m thick blanket over very large areas . Wide intersections of TREO with excellent Nd-Pr concentrations of 20% Multiple targets for potentially globally significant REE resources. Excellent regional metallurgy. Clay REEs are typically low capital intensity and high margin product. Significant supply shortage forecast due to rapid demand increase for renewable power, electric vehicles and electronics. Critical metals being prioritised by Governments around the world (need for diversity of supply away from China). Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

Richard Brescianini is back with Coffee with Samso Episode 191 and shares with us the path forward with Heavy Rare Earths Limited (ASX: HRE). I have always said that Richard Brescianini, the Executive Director of Heavy Rare Minerals Limited, is the best person when it comes to understanding how the Rare Earth sector functions. Richard has had a long history of experience within the sector and in this Coffee with Samso, he shares with us what is happening with HRE and about the path forward in 2024. Investors are facing a reality check in the rare earth sector, as they search for viable contenders among the limited number of companies remaining. While there is a growing interest in pursuing "ionic" projects in Brazil, it is crucial for everyone to carefully evaluate the economic feasibility of such ventures. In this episode, Richard and I delve into the key factors that drive the success of a business. We explore the crucial role of acid in metal extraction, as using more acid leads to higher metal yields. However, we acknowledge that the cost of acid extraction poses a significant challenge, and it's important to consider all other aspects of the business as well. When it comes to Australian Clay Rare Earth projects, they may not possess all the advantageous properties typically associated with a strong REE project. However, they do offer lower jurisdiction risks, which in turn present challenges in establishing a sustainable infrastructure. It is essential for projects to maintain consistency across various aspects, including metallurgical factors and grade, within the deposit. Furthermore, we delve into the exploration updates on Duke and Perinjori projects. Our discussion revolves around the merits of the Duke project and the latest developments in its exploration efforts. Samso's Conclusion Investors and companies in the Rare Earth sector must adopt a long-term perspective on commercialization. It is widely acknowledged that working on clay rare earth projects has been a challenging and arduous journey. There have been concerns that companies promoting these projects will face unfavorable outcomes. The prevailing bearish sentiment in the equity market further reinforces these doubts. I must confess that I shared similar reservations. I questioned whether the demand and excitement surrounding this sector would be sustainable. However, my recent attendance at a Rare Earth Conference in Canberra completely changed my perspective. Over the course of three days, I was fully engaged and attentive, only missing one talk. The conference rekindled my enthusiasm for the sector and left me feeling invigorated. The primary reason is that a significant amount of money has already been invested. Additionally, there is substantial funding available to establish a new downstream chain outside of China. Prior to attending the conference, I heard a lot of talk, but it's important to approach such information with caution. However, after attending the conference, I am now convinced that the talk is legitimate and the demand for more rare earth elements (REE) is credible. While the establishment of the downstream process is not yet complete, progress has been made. The amount of money pledged to establish a non-China-aligned downstream chain is astonishing. The projected demand for REE in our electrification journey suggests that companies like HRE will have long-term viability. Therefore, for those interested in this sector, I recommend some DYOR and delving into what is happening beyond the noise of general news. Take the time to explore the developments in the real world of REE. Chapters: 00:00 Start 00:20 Introduction 01:10 Cowalinya Exploration Target 06:03 Could the geology create issues for your Exploration Target at Cowalinya? 09:05 All about the Duke Project 14:03 Do you think Duke could have a different REE chemistry? 17:24 New Project - Perenjori 22:32 Discussion about the clay-hosted space 27:21 A second supply chain for the rare earths market? 37:58 What are the immediate goals for HRE to monetise the business? 44:17 What could disrupt the planning? 47:21 What should investors be looking out for? 52:05 Conclusion PODCAST About Richard Brescianini Executive Director Richard commenced his career in mineral exploration with BHP Minerals in 1987 working in teams focused on the discovery of base and precious metal deposits across Australia and North America from offices in Brisbane, Perth, Toronto and Denver. Richard’s experience extends further, including his time working as the Director of the Northern Territory Government’s Geological Survey in Darwin, and being part of the executive management team for rare earths developer, Arafura Resources. About Heavy Rare Earths Limited (ASX: HRE) Heavy Rare Earths Limited (ASX:HRE) is an Australian rare earth exploration and development company. Rare earth materials are used in a wide array of technology and future facing applications, including smart phones, wind energy, and hybrid and electric vehicles. HRE’s key exploration project is Cowalinya, near Norseman in Western Australia. This is a clay-hosted rare earth project with a JORC Inferred Resource of 28Mt @ 625ppm TREO and a desirable rare earth composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths. The company has completed a 441 drill hole program confirming widespread occurrence of shallow, thick and/or high grade rare earth mineralisation. The Company anticipates a Mineral Resource update and an estimate Exploration Target for the project in Q3 2023. Cowalinya Project - Western Australia The Cowalinya rare earth project is located 70 km south-east of Norseman in Western Australia. It comprises a single 230 km2 exploration licence E63/1972 on unallocated crown land hosting dominantly granitic type rocks in the Central Biranup Zone of the Albany Fraser Orogen. The mineralisation being targeted is shallow, flat lying, supergene concentrations of rare earths present in the weathering profile overlying granitic basement. This mineralisation is similar in style to southern Chinese ionic rare earth clay deposits, the world’s main source of heavy rare earths. Although this type of rare earth deposit is low grade, low-cost open pit mining and simple inexpensive metallurgy make them profitable to exploit. The Cowalinya area was primarily chosen on the basis of historical drilling which indicated the presence of anomalous rare earths in fresh bedrock and higher grade supergene concentrations of rare earths in the overlying in-situ weathered saprolite profile. In June 2021 HRE drilled 109 aircore holes at Cowalinya by HRE discovered significant supergene concentrations of rare earths in two areas, Cowalinya South and North. The rare earths mineralisation, occurring as flat lying sheets within the in-situ clay-rich weathered saprolite, is contained within an average ~8-9 m thick layer which starts ~17-18 m below surface. Independent resource consultant JMCT Consulting was engaged to prepare and report Cowalinya’s maiden Inferred Mineral Resource estimate for the project in accordance with the 2012 JORC Code: 28 Mt @ 625 ppm TREO (Total Rare Earth Oxides) using a 300 ppm TREO-Cerium Oxide (CeO2) cut-off grade. Importantly, the resource has a desirable rare earths composition where 25% are the valuable magnet rare earths and 23% the strategic heavy rare earths, and very low average concentrations of radioelements (15 ppm ThO2, 5 ppm U3O8). Mr John Tyrrell of JMCT Consulting is the Competent Person for the Cowalinya Mineral Resource estimate (in accordance with 2012 JORC Code). TREO = La2O3+CeO2+Pr6O11+Nd2O3+Sm2O3+Eu2O3+Gd2O3+Tb4O7+Dy2O3+Ho2O3+Er2O3+Tm2O3+Yb2O3+Lu2O3+Y2O3. Magnet REOs = Pr6O11+Nd2O3+Tb4O7+Dy2O3 ; Totals may not add due to rounding ; Reported above a TREO-CeO2 cut-off grade of 300 ppm The resource at Cowalinya remains open in all lateral directions and currently covers only a small proportion (<1.5%) of the project tenement. Preliminary metallurgical test-work on 40 samples from the 2021 drilling program shows the rare earths are successfully brought into solution using a weak hydrochloric acid leach. Recoveries of >90% for some of the rare earths have been achieved. Upgrade of Mineral Resource Resource Exploration and Expansion Drilling Program – 2023 The Company has successfully completed a 441-hole resource exploration and expansion drilling program at Cowalinya (refer to ASX announcements). These assays confirmed the widespread occurrence of shallow, thick and/or high-grade rare earth mineralisation in clay-rich saprolite over a 14 x 3-kilometre area west and south-west of the Cowalinya South deposit (Figure 1). This Western Zone discovery is open to the north and northwest, has an average thickness of 11.3 metres, and includes the following significant drill intercepts (on a grade-thickness basis) reported during the quarter: 19 metres @ 3190 ppm TREO from 16 metres (AC225) 10 metres @ 2087 ppm TREO from 17 metres (AC221) 26 metres @ 1201 ppm TREO from 19 metres (AC360) 17 metres @ 1069 ppm TREO from 11 metres (AC223) 42 metres @ 790 ppm TREO from 12 metres (AC226) Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso Samso ASX stories are also through the Brilliant-Online channels. Subscribe to Brilliant Investments.

Coffee with Samso Episode 189 is with Mike Haynes, Managing Director and CEO of New World Resources Limited (ASX:NWC). In our previous conversation with New World Resources Limited (ASX:NWC) the focus was on getting mining happening. Today the mining process is in place. While they are currently undergoing necessary procedures, they are also actively pursuing highly promising exploration targets. There is a scarcity of stories on the Australian Stock Exchange (ASX) that revolve around copper, especially high-grade copper. The Antler project, within the copper mineral exploration industry, is widely regarded as a technically robust project. It can now be better classified as a near-producer story as the company progresses into the mine planning stage. Those readers who have watched the earlier Coffee with Samso episode of Mike Haynes introducing the Antler project would be familiar with the high-grade nature of the copper story in 2021 and 2022 (see below). Samso has been showcasing the New World Resources Limited story since March 2021. A VMS Story - The Antler High-Grade Copper Project - New World Resources Ltd(ASX:NWC) - Episode 79 New World Resources Limited (ASX: NWC) - A Near Term High Grade Copper Producer Story | CWS Ep. 166 I have full confidence that the Antler project of New World Resources would successfully pass a rigorous due diligence process. The abundance of technical information and the untapped potential of the resource are undeniable. The only obstacles that remain are the mining process and the stability of the copper price. In this episode, Mike brings to the attention of the Samso community the Antler project and the exciting prospects of other high-grade copper projects in their portfolio. Figure 1: Copper price chart. (source: www.tradingeconomics.com) Mike Haynes provides an overview of the company's upcoming plans, highlighting the exploration targets within the Antler project and the new Javelin project located approximately 75km south-east from Antler. The Javelin VMS project has shown promising exploration results thus far, prompting New World Resource's strong interest in commencing work. Notably, it exhibits robust multi-element anomalies that were defined in May 2023. Furthermore, the project's northern third, which was completed in July 2023, reveals exceptional IP anomalies, further substantiating the project's significance. According to Mike, the project has identified both shallow VMS and deeper 1.2km x 1.0km porphyry copper targets. New World Resources plans to initiate a drilling program in Q4 of 2023. Samso's Thoughts As mentioned earlier, New World Resources is a highly recommended company to include in your watchlist for thorough research. The current bearish sentiment in the market has depressed equity prices in the small-cap sector, which presents a hidden opportunity for new investors in New World Resources. For existing shareholders, this may be a favourable time to consider averaging down their investments. I recall my Coffee with Samso with Rick Rule (Commodities and Equities: Advice from Rick Rule - Episode 70) , where he shared the story of his investment in Paladin Energy Limited (35:54 Rick and Paladin - The story of Investing in Mineral Explorers). Despite the stock price dropping to 1c, he remained confident in the project's quality, the company's management, and the factual truth behind it. If you have watched all the episodes of Coffee with Samso featuring Mike Haynes, you would have noticed the consistent nature of the conversations. Antler stands out in the industry due to its rare technical expertise. When considering technical attributes and potential, the Golden Grove VMS deposit in Western Australia serves as a suitable comparison for Antler. If you are interested in learning more about New World Resources, please don't hesitate to send me an email. I will gladly forward it to Mike Haynes. I highly encourage engaging in a dialogue with the management team, as they are more than willing to take the time to address any queries you may have. Check out this Coffee with Samso with Mike Haynes from New World Resources Limited. Chapters: 00:00 Start 00:20 Introduction 01:15 Updates from New World Resources 02:24 The resource value 03:17 Upsides to the Antler exploration 05:33 Discussion about the recent scoping study 08:07 Discussion about Porphyries 10:36 The mining strategy 14:30 VMS belt clusters 20:16 The Javelin Project 23:48 The next set of drilling 27:45 Discussion about current commodities 30:20 Exceptional IP anomalies 37:29 Any possible risks? 40:34 News flow 43:38 Why should investors look at New World Resources? 45:03 Conclusion PODCAST About Mike Haynes Managing Director and CEO Mr Haynes has more than 25 years’ experience in the international resources industry. He graduated from the University of Western Australia with an honours degree in geology and geophysics and has explored a wide variety of ore deposit styles throughout Australia and extensively in Southeast and Central Asia, Africa, Europe, South and North America. Mr Haynes has held technical positions with both BHP Minerals and Billiton plc. He has worked extensively on project generation and acquisition throughout his career. During the past 17 years he has been intimately involved in the incorporation and initial public offerings of numerous resources companies, and in the ongoing financing and management of those and other companies. About New World Resources Limited New World Resources Limited is an Australian company focused on the exploration and development of mineral resources projects in North America. It is listed on the Australian Securities Exchange under the code NWC. On 14 January 2020 New World Resources Limited announced that it had executed an agreement that provides it with the right to acquire a 100% interest in the high-grade Antler Copper Deposit in Arizona, USA. In October 2021, after 18 months of exceptional results, New World exercised its option and took 100% ownership of Antler. About the Antler Copper Project Excellent Location • Located in a sparsely populated part of northern Arizona • Privately-owned land • 70% of all copper produced in the US is from mines in Arizona Proven VMS District • Cluster of 30-40 VMS deposits in northern Arizona; largest: • United Verde – mined 33Mt of ore @ 4.8% Cu (1883-1975) Excellent Infrastructure • 15km from rail and an interstate highway • Mains power to within 700m of the old headframe • 55km by road to Kingman (population ~30,000) • Benefits of existing infrastructure: - Cheaper to build a new mine - Cheaper to operate a mine 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. VMS (Volcanogenic Massive Sulfide) Deposits Explained In simple terms, Volcanic-associated Massive Sulphide (VMS) deposits are caused by underground metal-rich volcanoes rising and creating a cooking environment. I suggest you download this eBook which explains the VMS and How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google. Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

In this episode of Coffee with Samso 188, we have David Groombridge, CEO of Riedel Resources Limited (ASX: RIE) sharing with us an update on exploration activities at the Kingman Project. The Riedel Resources story is one of the few real exploration plays on the Australian Stock Exchange (ASX). In this episode of Coffee with Samso, David Groombridge gives us a quick update on the project and what shareholders and potential investors should be looking out for in the coming months. Listen to our coffee conversation with David Groombridge here: Samso's Conclusion The Riedel journey exemplifies a typical mineral exploration experience. If I had a dollar for every time I mentioned this phrase, "a typical mineral exploration journey," I would be generously compensated. Unfortunately, in today's market, it is disheartening to acknowledge that there is a prevailing misconception within the investing community that profits can be achieved in a matter of weeks. Investors are solely focused on corporate maneouvers that yield shareholder gains, disregarding genuine mineral exploration outcomes. There is a distinct lack of genuine investor interest in the market. Even the mention of lithium, once considered a magical term, no longer holds the same allure. It is now recognised that possessing a pegmatite with spodumene is no longer a guaranteed path to share price appreciation. This means recognising that corporate support and favouritism are the only things that truly matter. It emphasises the importance of the individuals driving the narrative. While it may sound pessimistic, there is hope for a positive outcome. I firmly believe that time is the remedy that other "patient" investors must embrace. The crucial factor for the average investor is allowing projects to develop over time. The current bearish sentiment in the market has led to many companies being significantly undervalued. The key is to align yourself with a well-managed story that possesses the technical merits to thrive during the next bullish market phase. In my opinion, Riedel is one of those companies. Mike Bohm is a no-nonsense operator and the Kingman project is full of potential. The company is now established in the US and as David Groombridge puts it, there are opportunities out there for the taking. It is important to keep in mind that a bear market is a time when projects can be easily dislodged from their positions. The most promising projects are often acquired during bear markets, and they reap the rewards of their hard work when the bull market brings favourable conditions. Tune in to the Riedel story here. Chapters: 00:00 Start 00:49 Update from David Groombridge. 01:22 Any new Learnings at The Kingman project. 02:24 The Tintic - Jims Structural Corridor. 03:19 Any resemblance to Mineral Park? 05:04 What is the Exploration strategy now? 06:25 Exploration is a long-term proposition. 07:32 Any concerns with regulatory issues? 08:04 What would make investors worry and celebrate the Riedel story? 09:25 Any potential acquisition in play? 10:27 When will the resource come out? 10:48 Conclusion PODCAST David Groombridge Chief Executive Officer Qualifications: MEconGeol David is a geologist with a Masters in Economic Geology from the University of Tasmania. His career incorporates 20 years mining industry experience in multiple ore deposit styles, including nickel sulphides, tungsten, SedEx (sedimentary exhalative) and orogenic gold in both underground and surface roles, primarily in resource development and mineral exploration. He spent 12 years across senior management roles at Tectonic Resources and Silver Lake Resources before becoming Exploration Manager for Medallion Metals, where he has worked since 2016, focused on the 1.62Moz Au Eq. Ravensthorpe Gold Project. This WA-based project is a structurally hosted, high-grade gold system similar to the Kingman Project. About Riedel Resources Limited Riedel Resources (ASX: RIE) is an emerging mineral exploration company focused on advancing the historic high-grade Kingman Gold Project in North-West Arizona. The Kingman Project covers an area of historic gold-silver-lead-zinc mines that were in production from the 1880’s through to the early 1940’s. Diamond drilling in late 2019 confirmed the high grades seen in historic mining. RC drilling in early 2021 hits extensive gold, silver, zinc and lead mineralisation including 3.8m at 98.9 g/t gold and 151 g/t silver from 20.6m at Tintic and 4.6m at 8.39g/t gold from 100.6m at Merrimac. Further drilling subsequently confirmed gold, silver, zinc and lead mineralisation in multiple veins at Jim’s. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Subscribe to Samso Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

On today's Rooster Talk 42, Michael Bohm, Executive Chairman of Riedel Resources Limited (ASX:RIE) talks about the prospectivity of the Kingman Gold project. The company has just raised AUD1.8M and is aiming to step up the drilling within the Tintic prospect. The aim is to put some more colour onto the previous drilling program. As successful as it was to the market, Riedel Resources is aiming to better understand what degree of mineralisation exists and how it relates to the geophysical evidence. Michael Bohm shares with us what the company is currently thinking about all the drilling results and piecing together the next phase of drilling that will create more clarity in an evolving mineralised system. Chapters: 00:00 Start 00:10 Introduction 00:36 Michael´s new announcement 01:43 The Mineral Fertility of the Kingman Project 03:24 Michael responds to my thoughts on the project 05:43 Potential of a Hybrid Porphyry / VMS System 07:16 Why Arizona is the place to be 09:05 The real importance of the presence of a Porphyry 09:44 The mineralised nature of the Kingman Gold Project 10:56 Geophysics shows a mineralised structure in place 11:56 What could the project become? 13:36 Polymetallic Mineralisation 13:38 News Flow 16:48 Upcoming drilling will add more structure to the story 18:34 Existing mineralisation is exciting 19:29 Conclusion PODCAST About Michael Bohm Executive Chairman BAppSc (Mining Engineering) Appointed: 12 December 2020 Mr. Bohm is a qualified mining professional with extensive Corporate & Operations experience. Michael has extensive minerals industry experience in Australia, South East Asia, Africa, Chile, Canada and Europe. A graduate of WA School of Mines, Michael has worked as a mining engineer, mine manager, study manager, project manager, project director and managing director and has been directly involved in a number of mine developments in the gold, nickel and diamond sectors. Michael is a current Director of a number of ASX-listed companies and sits on their Audit & Risk and Remuneration Committees. Michael has had previous directorships at Argyle Diamonds Mines, Sally Malay Mining Limited and Ashton Mining of Canada. About Riedel Resources Riedel Resources (ASX:RIE) is an ASX-listed mineral exploration company earning into an advanced high-grade gold exploration project in north-west Arizona. The Kingman Project comprises approximately 200 contiguous mining claims located approximately 30km from the town of Kingman Arizona. The area was mined for high-grade gold and silver from the 1880’s to the early 1940’s and since then very little modern exploration has ever been carried out on the property. The Riedel board has extensive experience in minerals and mineral exploration in Australia, the US and Canada, amongst others. Kingman Gold Project The Kingman Gold Project is located near Kingman Arizona and only 90 minutes drive from downtown Las Vegas. The project was mined for high-grade gold and silver from the 1880s until the early 1940s which coincided with the outbreak of WWII. Following drilling in the 1990s, 11 diamond holes were drilled on the property in late 2019 and which intersected multiple zones of high-grade gold, silver and lead from shallow depths and confirmed the extensive mineralisation potential of the area. Riedel plans to aggressively drill and explore the project area during 2021. 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. VMS (Volcanogenic Massive Sulfide) Deposits Explained In simple terms, Volcanic-associated Massive Sulphide (VMS) deposits are caused by underground metal-rich volcanoes rising and creating a cooking environment. I suggest you download this eBook which explains the VMS and How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso

Episode 187 of Coffee with Samso is with Guy Le Page, Non-Executive Director of Mount Ridley Mines Limited (ASX: MRD). Mount Ridley is now at the business end of the Rare Earth journey. Mount Ridley Mines is now focusing on the flow chart of the REE business. This is the money end, can you make the processing part cash flow positive? When I had my first Coffee with Samso with Guy Le Page, in July 2022 (Mount Ridley Mines Limited (ASX:MRD) - A Rare Earth Story.), it became evident that the company had a strong focus on optimising their flow chart. The company was confident in their ability to achieve the desired tonnage and grade, but their primary emphasis was on the final stage. In my view, one of the major benefits for companies like Mount Ridley is their project's location in the Esperance region. Numerous discussions have highlighted the region as the ideal site for the government to establish a Rare Earth Hub. Check out the conversation in this Coffee with Samso and, as I always encourage, DYOR. Chapters 00:00 Start 00:20 Introduction 01:10 Updates on the Mia Project 02:45 Beneficiation Results 03:55 Leach Test Results 04:59 Is Mia the main focus of Mount Ridley? 06:01 Mia prospect air-core drilling 06:37 Discussion about the soft REE market 09:05 Q&A from the public 09:19 Is MRD still going to list on the Frankfurt Exchange? 09:46 What is MRD’s strategic roadmap beyond 2023? 10:59 How is MRD taking a position for success amongst Esperance peers? 11:59 Is using HCL costly? And what about government grants? 13:03 Has MRD determined the controls in the clay-hosted REE project? 15:24 Prediction of the path of the REE market as we move forward 17:01 What makes MRD stand out? 18:20 Discussion about the REE market 20:17 Conclusion Samso's Conclusion When investing in the Clay Rare Earth sector, it is crucial to consider the economic viability of the processing flow sheet, and, while the industry has yet to determine its profitability, this does not mean it won't become a viable option. However, it is important to acknowledge that the industry is still in its early stages, and there will be a steep learning curve filled with uncertainty. The industry has successfully identified the process of leaching out the Rare Earth Elements (REE), but the economic outcome in terms of profitability remains uncertain. The REE sector, including both hard rock and "Clay/ionic/alluvial" types, has gained attention in investment circles due to recent geopolitical developments. China's dominance in this sector is widely recognised and understood. The previous discussion on REE in the investment community was short-lived in 2010, as the market experienced rapid fluctuations. However, the current rise of the REE sector has shown more resilience, having been present for a couple of years, largely due to the new "cold war" with China. Balancing the REE sector will require time, and investors in this sector must cultivate patience, akin to the patience required for fishing. It is frustrating to continually emphasize that mining projects are measured in terms of years to decades, while investors, particularly new ones, expect quick results within weeks or months. Unfortunately, such quick results are unlikely to occur. Regarding Mount Ridley, they have a solid strategy, and recent results indicate a viable business. However, the investment community needs to learn to be patient and learn to "PARK" their money. PODCAST About Guy Le Page Non-Executive Director B.A., BSc (Hons), MBA, MAusIMM, FFIN Mr Le Page is currently a Director & Corporate Adviser of RM Corporate Finance specialising in resources. He is actively involved in a range of corporate initiatives from mergers and acquisitions, initial public offerings to valuations, consulting and corporate advisory roles. Mr Le Page was Head of Research at Morgan Stockbroking Limited (Perth) prior to joining Tolhurst Noall as a Corporate Advisor in July of 1998. As Head of Research, Mr Le Page was responsible for the supervision of all Industrial and Resources Research. As a Resources Analyst, Mr Le Page published detailed research on various mineral exploration and mining companies listed on the Australian Securities Exchange. The majority of this research involved valuations of both exploration and production assets. Prior to entering the stockbroking industry, he spent 10 years as an exploration and mining geologist in Australia, Canada and the United States. His experience spans gold and base metal exploration and mining geology, and he has acted as a consultant to private and public companies. This professional experience included the production of both technical and valuation reports for resource companies. Mr Le Page holds a Bachelor of Arts, a Bachelor of Science and a Masters’ Degree in Business Administration from the University of Adelaide, a Bachelor of Applied Science (Hons) from the Curtin University of Technology and a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia. About Mount Ridley Mines Limited (ASX:MRD) Mount Ridley Mines Limited is undertaking the exploration of a significant deposit of valuable clay-hosted rare earth elements in Western Australia. The Project was initially acquired for its nickel and copper sulphides potential and is now recognised as being prospective for ionic clay REE deposits. Currently, this style of deposit is mined and processed only in China and Myanmar. In November 2020 Mount Ridley Mines Limited (“MRD”) commenced a review of data for its namesake Mount Ridley Project and surrounding area. The review concluded that areas of the Biranup and Nornalup geological provinces in south-eastern Western Australia have the potential for REE mineralisation, and in particular, the style of mineralisation referred to as Ionic Adsorption Clay (IAC-REE). Globally, deposits of IAC-REE are most significant in southern China and are the world’s main source of heavy Rare Earth Elements. The Project REE mineralisation occurs as large, horizontal, near surface, sheet-like lenses up to a depth of 89 metres. REE mineralisation is interpreted to be present within the in-situ saprolite clay horizon. Patchy lower grade zones occur within transported cover which may vector towards stronger REE mineralisation deeper within the regolith. Geological Survey of Western Australia (DMIRS) mapping [Figure1] shows that the Mount Ridley Project REE mineralisation occurs within the weathered mantle (regolith) of the Recherche Super-suite, which is described as “granitic and mafic gneiss; may include intrusions of Esperance Super-suite”. While the source of the REE mineralisation is currently unknown, a detailed sample and litho-geochemistry dataset from bottom of hole aircore samples has been established which includes whole-rock chemical analyses, sample pulps and some end-of-hole air core samples. These samples and data are being studied by the Company’s consultant geochemist to identify the primary rock-type and whether units are REE-enriched. Re-assay of 950 air core samples (162 pending) returned significant REE values over an apparent strike in excess of 25 km with over 20 samples returning >1,000 ppm Mineralisation remains open in all directions with a peak value so far at the Keith’s Prospect from MRAC0711 with 10,461ppm (1.05%) from 23m downhole. Significant REE intersections have been identified and grouped into 5 prospects – Winston’s, Keith’s, The Lake, Tyrell’s and Marcellus. Planning underway for a 25,000m aircore program to test newly acquired tenements in addition to step-out and infill holes. 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. 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