Ann: Alternative Proposal from Toho Zinc , page-18

You fellows dont seem to understand...TOHO has been the cnr stone investor for CBH for a longtime...so I say who needs Nystar..I certainly WILL NOT SELL MY SHARES TO THEM..TOHO said they would aquire up to 49.5% of all shares...so you sellers sell your shares as TOHO has allways been a good shareholder...so SELL your shares..I will hold for a MUCH larger SP...and PEM and CBH might still get together in a 2CBH shares for 1 Pem share...so who wants Nystar on board...NOT ME