Ann: CAP Board and Management Changes September 2015, page-6

Ouch, CAP is not even a shadow of it's former self.

It breaks my heart to think this, CAP looks like a dead company walking,

In this current climate, who will fund a project such as Hawson's? Look at existing, established iron ore miners, GRR, AGO, FMG, BHP, etc. You can buy an existing producer dirt cheap these days.

My SMSF is a shadow of its former self thanks to holding shares in CAP and AGO. That's OK, I took the risk and lost, no one to blame but myself. I still hold a few CAP shares in the SMSF.

With CAP's J/V partner choosing to be diluted rather than inject cash into developing CAPs only real asset (Hawsowns), then CAP will CAP have to scale back the projects "development" or will then makeup the shortfall from their cash reserves, which are extremely minimal. Even with the reduction in Directors fees and reduction in staff numbers at CAP HQ, the cash on hand position is tight to say the least.