Ann: Financing Arrangements - Mt Carbine Quarry & Mining Leases, page-40

Hi Scottm, My understanding or take on it is:

1.It is not only for the stockpile and tailings, but also for the leases. Therefore anything to do with Mt. Carbine.

2. The testing Croniment will do, is only for the tailings.

3.Croniment will buy all the product. Plus, PAY US 2.5% royalties. So we don't have to chase customers, we are dealing with a multi-billion dollar company AND THEY WILL DO ALL THE WORK.

4. There will be a cap raising which is a good thing because shareholders can take part as well as enabling the the company to go into early production, jorc up their resource on other leases and becoming cash positive, which is a good thing.

5. IT WILL ALSO BE THE ONLY TUNGSTEN PRODUCING COMPANY IN AUSTRALIA, FIRST OF THE BLOCK WHICH IS GREAT.