Ann: Corporate Update, page-50

They stated in the corporate update that they have several interested parties in Maslins and are in discussions with them with an expectation Maslins will be drilled in the fourth quarter.

They also advised that they plan to acquire a high profile advanced exploration project by the end of 2018 and that a number of projects have been offered independently to them over the past three months. I am hoping they do what they say, that being buy into one of these projects with the aim of establishing a regular cashflow as soon as possible to avoid continued dilution. They may need to raise funds to buy in, however, long term it could be beneficial as it may avoid other large future capital raises. Alternatively they could do some sort of joint venture arrangement.

This would also diversify their assets from silver which is currently on the nose. Not sure Paris will get up and running at these prices. However, I suspect their is still interest in Paris as everyone knows the cycle will turn and silver will once again have its day.

While the other party will also be struggling to get the project up and running I don't think it will be a 2nd class J/V otherwise why do it.

As far as Maslins is concerned the fact that several parties (at least 2 perhaps even 3 or 4) are interested suggests that they will have some negotiating power to arrange a decent deal with hopefully a major BHP, Rio, Newcrest or mid-cap such as S32 or Oz. Perhaps a 75% earn in interest for a commitment to spend a specified amount to feasibility.

The only thing that concerns me is that one of the companies interested in Maslins wants the whole thing and they try and get it on cheap by buying out the company at say 5 cents a share. Holders would then not be able to participate should they actually hit a decent deposit at Maslins.

I note the annual report released at the end of August suggested that nothing has changed since 30 June to the end of August to suggest that the company will not continue operations this financial year and in future financial years. And that they intend to implement what they mentioned in the Corporate update throughout the 2018/2019 financial year. This tells me that they expect the company to continue as a going concern for some time. It has been less than 2 weeks since they stated this so lets hope that this is the case and that one of the organisations interested in Maslins is more interested in being our strategic partner rather than predator.

Thoughts anyone?