Colin Kettell

our net asset value right now is about $3.10 per share. And our share price is trading around $2.70.

we have not raised a significant amount of capital at Palisades. Palisades Gold Corp went public via direct listing in 2022. And prior to that time, uh we had probably raised uh less than $15 million from inception.

we've done return of capital distributions directly to our shareholders of $75 million through seven different distributions.

net of share buybacks since going public, we've issued into the tune of about 6 million shares, which is less than 10% dilution to the company.

I own 23% of the company. [...] So, between Mike and myself, we own and control about 45% of Palisades.

our net asset value right now is about $3.10 per share. And our share price is trading around $2.70.

I own 23% of the company. Uh G&A is extremely low or under 2% on the annual basis of the entire portfolio value that goes towards uh G&A. And anytime we can cancel shares out or we can return capital to shareholders, I will note in a tax efficient way, uh we we go ahead and we try to do that. So, if I'm understanding what you're saying, uh you have returned to shareholders roughly five times the cash you've raised. Is that Is my math accurate? That's accurate, yep. Thank you. Uh and if you feel uh entitled to, when you talk about this uh strategic shareholder, does that shareholder have a name that you're prepared to publicly disclose? Yeah, it's it's already disclosed in in press releases. Uh it's just a gentleman out of Arizona named Mike Parker, and he's been a very significant backer for anything that I've done in the space of the last five or six years. So, between Mike and myself, we own and control about 45% of Palisades.

Uh we also have $5 e market. We're noticing that the market has significantly changed since 2024 and 2025. The opportunities that we had to get full warrants on high-quality deals is no longer present. The competition from other parties even through pullbacks is much stronger now to the point where we're not commanding the same terms that we were able to before. The same quality deals are not necessarily seeking capital that has a warrant attached. And so if somebody came to the table today and said I want to run this strategy, whether that's an individual shareholder or company, I would argue that the best of the best is already past and the opportunity therefore is really just to to look at owning portions of Palisades. We have I looked before the interview just to name a few names. We own 98 companies that we have over 3% of the company in warrants alone of venture listed companies. Companies that we own over 5% of just with warrants would be Global Atomic, Silverstorm, Copper Giant

through doing that, we now have a very significant uh, portfolio of warrants. Uh, the the number now exceeds 1.5 billion warrants covering uh, well over 200 companies in the space.