Ann: SPP Terms and Letter to Shareholders, page-60

We are no longer funding or calling the shots with Uruguay.

Spain is mostly funded and if we are successful there, which we should be, it will open up opportunities with Australia or the next project.

DC’s track record shows he focuses on one project at a time. That was Uruguay and is now Spain.

If Uruguay operations continue, which I believe they will at some point, we will see the benefits.

They will be working hard to get Spain moving now and would be fully aware of the SH sentiment that they have created.

Look to the future, at 0.002 there isn’t much downside for those still involved.

Good luck to all holders - hopefully by Christmas!