Dear Hiten Pindoria On the announcement, I thought it was fairly...

Dear Hiten Pindoria

On the announcement, I thought it was fairly self explanatory. Veritas are not buying the shares they are being placed to institutional clients of Veritas. The money raised from the placement is to be used to expedite the Buena Vista feasibility studies currently being undertaken. In terms of more money for the exercise of the option, the Company has just over 20M options that are due to be exercised by the end of the year at 20c, which would bring in another $4M.

I don?t know if this other person you a referring to is a shareholder of the Company but they are more than welcome to send an email to [email protected] if they have a query. It is very hard for me to comment on this other persons remarks when I have not spoken with them before. Please refer to past ASX releases that mention the large data base of data the Company has on the project.

Yours sincerely


Max Nind