Ann: LoI signed with Chinese Mining Company , page-4

G'day Dan.

"I think you are drawing a long bow to say the letter of intent to co-operate means losing half the company for a few million."

Two other companies that I had holdings in have gone through much the same with the Chinese. They are Norton and Focus. (NGF & FML). Check the terms under which they accepted help.

Western Mining Group will want their pound of flesh, you can bet on that, and good on them, they are in a position of strength, but, they will want control.

I don't know about them paying your figures of $1,600 or $1,700 per oz, as that is assuming that there is no more gold in all that massive holding than what was currently being mined.

I was hoping that every thing would be put on ice until such time as the gold price picked up.

Lockitt