Ann: Investor Presentation, page-87

Hi TagH and all,

Perhaps with the information you share here (many thanks) people will have a better understand the strength of the shareholders of this company. Something you and I and possibly a few others have known for some time. Despite Jeff having the backing of some very deep pockets I still like the way he runs the company on the smell of an oily rag.

Making deals that cost the company little money such as having ore treated on a profit sharing basis being one of them. The non-executive directors drawing minimal wages also helps.

As for the directors selling shares I believe this is due to the directors freeing up cash to take up options previously converted and for those yet to be converted. In my opinion the management team holding some 10% of the shares is reassuring and I feel confident knowing they have their own skin in the game.

Cheers and very best regards: Andy