Ann: Quarterly Activities Report, page-22

Lets hope you are all right !

One issue which has been on my mind in respect to the JV with  Itapitanga is the earn in percentage.    Why would we seemingly be ' selling of the farm ' with 80% earn in for Simulus and only retaining 20% for ourselves.

Do we see it as non-core to our overall exploration activities ?  I wouldn't think it is the time horizon as the initial terms are like 6 months or something to the first milestone of scoping study and then maiden JORC.

So I ask myself given all the sense of urgency with the ' Airfreight ' samples and the massive 40 tonnes of rock being sent ALL the way across the entire planet.   Could it be that the project is anticipated as being so large - or at least large enough that 20% will do just fine ?

Does get you thinking of their line of reasoning for  IItapitanga..........