Ann: Completion of SPP, page-18

We already had that. Have you been to the EGM in 2017? I had attended because I wanted to make sure my votes get counted (never know with those nominees...) and to get an impression of the guys involved. I would not have hesitated to pull the trigger if that what the other side offered would have been better for shareholders. And I am owning enough shares that it would have been game over.

But it is clear that any change in management brings with it transaction costs. Even if better the new guys are not in the know with lots of details. You will lose time = money. A change in management to better management easily means 10-15m in funds needed. But what was offered was an insult to shareholders, very weak candidates (although first impressions can be misleading).

Then you need to have good relations with locals and government in Guyana. Ken is doing a wonderful job in that regard. Can you even replace him?

The obvious choice if management replacement is not viable and you do not like current management is to sell. So you still have a choice. I did not because I like the current guys. I have 100% faith in them. Troy did not have excess funding for a long time, I think you may be surprised what can be done once financial conditions at Troy are right again.

Sad that investors are freaking out now that the debt is nearly gone. Management offered us a deal that meant some dilution on an excellent project that they brought to the table for next to nothing. At least less shares issued.