Ann: Lifting of Injunction and Strategic Review , page-5

re: Ann: Lifting of Injunction and Strategic ... We will not get much for it without the community approvals and the rights to start drilling. Or at least we will get more if we had those. For me their last timtable was to have these and ready to go over the next 3-4 months (this has been clearly stated for the past year).

If they substantially do not (or cannot) stick to this timetable then I will join your boat. If they can (this time) then the asset should be worth more to someone later in the year.

Plus Cuervo is still yet to play out. And the timetable for this has also been clearly laid out - unless they legally become insolvent don't expect anything to happen here maybe until next January. But it will get interesting come July.

So still too early - just. Another 6-9 months and a further $4-5m spent is not going to make much of a difference and I am prepared to give them this one last roll of the dice. Happily so I will add.

That's my position.