Ann: Capital Raising Update, page-73

I am not a down ramper and I am not a shareholder - I want all companies to succeed, but also there has to be some reality to the information being provided.

I am intimately aware of the West Timor Mn ore situation and it is a very political influenced and takes a long time to do things.

You have to know the right people and have the right connections - and I emphasis the RIGHT connections.

I mentioned here before the issue of Intrepid Mining (ex ASX IAU) you can read the announcements on asx.com.au, but they spent $95m developing a mine and a guy from Jakarta came in and took it away. Lots of sovereign risk.

It could be said that Indonesia does not have the robust legal basis found in western societies. Protection of private property.

You only have majority shareholding of a company in Indonesia for 10 years (from memory) and then you have to give Indonesians majority shareholding - basically you lose control.