Ann: 31 December 2016 Quarterly Report, page-32

Webb, Some of us have been involved with the Co. for a lot longer than 3 years but I appreciate your points.

I'm talking their decisions made in the last 8 months and how they are running the business in the short term, not the last 2 or 3 years.

As a shareholder you surely cant be happy that they sold millions of our PNR shares around 10 cents ... for every million shares they sold it cost our balance sheet $100,000 ... and they sold a LOT of millions! That equates to years of Directors wages!

We had enough in the kitty for day to day running given no project was in the pipeline so selling so much PNR was simply a bad trading decision. They should have sold smaller portions as and when required.

Now they start "investing" S/H funds in other Spec Co.'s (KZR and RNI) just before they may need the cash to invest in a new project ..... Don't get me wrong, the Co. as a shell should provide a good return for new punters so good luck if you are one of those.

I just see some poor decisions and what seems a lack of urgency in recent months and as a sizeable S/H I'm hoping the current trend is not repeated.