Ann: Quarterly Report for the period ended 31 Dec, page-7

re: Ann: Quarterly Report for the period ende... Boofy, yes, that would be perfect for us shareholders, but it would be cheaper for Ample Source to simply takeover CAP.

They could takeover CAP at, say, 45c/s, for just a nip over $35M net due to our cash balance. They would acquire all assets of CAP going down this path.

If they went down the path of buying into the JV, they firstly pay $13M to BMG, then $25M to CAP, and then pay up $23M in a few years once a decision to mine is made, wherein they then free carry CAP to the tune of $600M in capital costs (ie. 20% of CAPEX).

Ask yourself, what would you do? Takeover the entire company for net $35M (hypothetically) or acquire an interest in just one project (albeit the major one) for just as much in the short run, and a whole lot more in the long run!

It pains me to say it, but a takeover seems more likely in my opinion. That said, we would make a handy short term profit from these prices if that indeed was the case!