Ann: Progress Report, page-10

I recall your posts during the SoA and takeover of AOH. Although I thought you were a little unfair about Alastair Cowden, I can certainly agree with you that CMMC were certainly only after the cash that was in AOH, and seem to not have any serious intentions to do anything about the Cloncurry assets, which is a shame as I imagine a lot of AOH holders were looking forward to something actually happening at Mt Roseby after the Glencore and Chinese delays and debacle.

So if we just take our lumps and accept the reality that CMMC only wanted and got our cash, and essentially paid nothing for the Cloncurry assets then I can't see why they just can't get off their butts and either spin-off , JV or sell the Cloncurry tenements to someone who will do something with them. The other really frustrating thing is that the last bunch of exploration done on AOH's exploration tenements was really encouraging and demonstrated the massive exploration potential of the ground, all that potential and momentum is now gone.

That was sort of my point that C6C should either poop or get off the pot, and I hope someone in the Qld Dept of Mines tells them that eventually - because no way would they be fulfilling their minimum expenditure requirements on their exploration tenements.

Important lesson learnt that having lazy cash sitting around in companies balance sheet without a plan to put this cash to work (either in exploration, development or deal-making) is just asking for a cheap opportunistic takeover bid that can't be defended against if investor sentiment is low and/or price suppression is in full control. And that exactly what happened here - the market was asleep at the wheel and CMMC essentially stole AOH shareholders cash.

If you were looking for Copper exposure, as a completely newly minted investor who is new to the market you would be able to find heaps of better copper producers to invest your money in, the management and assets that C6C have are all exceedingly underwhelming value propositions, and unless something changes I can't wait to get out of the small remaining C6C exposure that I do have free carried.