Ann: Resignation of Managing Director & Board Changes, page-16

Hey shareholder , were on the same side as far as wanting a good outcome for Phoenix but in any of this correspondence did Jon mention there was bugger all gold in the Kintore pits or what the issues may be on completing the Norton deal .Did he say hang tough were thrashing out a positive deal with Evolution . Happy to be wrong on this but I thought there was a capital raising to in part pay for the purchase of heap leach gear from St Ives , looks like the cap raise will only pay for losses in the Kintore open pits and the plant will be paid for in a series of instalments with funds obtained from who knows where . I don't think anyone disputes Jon is a nice guy but answering emails and taking phone calls from shareholders does not an M.D make .