Ann: PLA MOVING TO OWNER OPERATOR MINING AT SMOKE, page-4

re: Ann: PLA MOVING TO OWNER OPERATOR MINING ... Yes, this would seem to be very good news and goes a long way to explain what management have been up to over the past six months! Should seal the right issue too - perhaps Patersons wont get much of the short fall after all. HaaHaa!

It's also worth noting that this time under point 4.10 (page 23) of the prospectus and underwriting agreement that - the 'Share Price' clause has been removed - hence why Patersons have chosen to only part-underwrite this time around (as well as bringing in Acorn Capital to sub-underwrite).

It's a shame Management could not of come clean regarding these operational developments at Smokey Hills sooner and then we probably would not have seen as much of the wealth destruction we have had to endure over the past two months.

It will be a slow re-build of shareholder confidence, but this certainly feels like the real turning point we're been waiting for. Hopefully the Share Price will start creeping back.

What we need now is something like a rock solid strategic company presentation as part of the prospectus sales pitch - outlining the new future state of PLA.

Gus