Ann: Quarterly Activities and Cashflow Report, page-18

Lots of healthy discussions I like it.

11.4c too cheap. RRL or some other party need to step up their offer if they want CMM. Would make more sense to do another extensive drilling campaign at Tramore starting Feb and see where we end up. At least that way any more offers would have to take that into account or funding could be achieved at a higher level. I don't think Im stretching the truth to say we should see at least a 2m oz resource before this is all said and done at a minimum. Therefore either 200k oz/annum for 8.5 years or a 16 year LOM or something in between. Take your pick doesn't matter to me.

I do think it is worth noting the delay in funding announcement which was originally due end of Sept, then Oct and Nov in time for the AGM. I will say that I do not think this related to challenges raising funds and my sneaky suspicion is that they are giving RRL or another party every second they can to reach an agreement.

Again as stated earlier we either get an increased offer or do more exploration and head to production in 12 months ish time.

My view on whether CMM is a good investment is answered relatively simplicity. Is my avg lower that Hawke Point around 9.4c (Y/N) In my case yes so can't see them allowing anything too detrimental happening to me.

Unfortunately for us all we can do is sit on hands until we get more news. In the meantime the world is crashing around us, end not yet in sight, so when the US dollar weakens gold will continue to strengthen which I always thought would happen the back end of this year.

GLA