Ann: General Manager Appointment, page-7

The Hatches Creek Tungsten mine has the best tungsten grades, TGN want this mine, the only reason it is being sold to TGN is because they will develop it quicker as a tungsten only Company ,unlike SEI. Four of the board members are on both boards and have worked together on deals in the past .GWR benefit greatly when TGN share price increases, that is why our board keep taking shares instead of a salary every year and never sell any shares. TGN top 20 shareholders hold around 86% it is a very thinly traded stock have a look the last time 416,000 shares were traded in one day it would be a few months and that is with a sliding share price.I look at the end game as I am a long term investor, even the lower share price is good for me as I can buy more shares for the same money like I did today. CHEERS