Ann: Brazil Copper-Gold Exploration Progress Update, page-52

Just who or what are you railing against nsw004? CTM is a great buy at these levels and it will take some time to unlock the value ... I think there are hidden upsides that the market is not factoring in ... IO is the big one for me ... they have said for quite some time that they have plans around that ... I think it is a fair question to ask when we might see more movement on that.

As for the ground held. They have done great work at ity which has failed to give a bump but 18 months should take care of that,... pebas was clearly a short term bust and salabo the short-medium term catalyst that has the potential to save the oppies and get some more cash in the door.

This mob have been all over the shop trying to find a viable project. Don't take my word for it, read the various announcements for the past five years. A lot of cash has been burnt, but I think they have done well to still be in the game and holding the ground they do.

It will take a while to unlock the value, but when they do it should be stellar