Ann: Entitlement Issue Prospectus-MOX.AX, page-2

Well this is a bit ordinary. Per previous comments I've made I fully expected a cap raise but I really thought it would be after pumping a bit on Mt Ringwood. I took my profit on the last run thinking it was early and was looking to buy back at around 1 cent - not now though and maybe not again. This suggests that Mt Ringwood is not going to meet the expectations generated, I suspected that anyway but if it was good they would not be raising today, rather they would wait for drills to come in, report visuals and preliminary assays and then do it before reporting full results in a month.

Frankly the lithium exploration in QLD is a waste of time and money. The market does not want lepidolite and they won't support it with any fervour. It's just a 'mine the dumb shareholder' asset trying to ride the hype. Nothing wrong with trying to get on the bubble I suppose but there is when you don't understand the nature of the bubble under way.