Ann: Change of Director's Interest Notice * 3, page-22

City,

I think it's VERY much in their interest to play nice.

Last time the military government took this project over they screwed it up big time. This time they just have a production agreement/taxes/royalties which are substantial and let the professional run the show. Then there is the China input via Perilya to keep ythe Myanmar govt focused on the end goal.

Yes, anything can fail, BHP and RIO have made a few very big boo boos in their day, but from where I stand and based on what I know I see the country risk as very modest. Management have set this up to be a win win for all stake holders.