Ann: Funding Update, page-5

Hi wb,

if you are able to, may I ask you how much you know of Mr Ren and his mining experience / background?
I too am very disappointed with the current situation, especially as they allowed both the Rights Issue & Share Issue to take place under such a sess-pit situation.

I did ring the Company Secretary expressing my concerns of the potentially 'massive uptake shortfall' and indicated to him that both raisings "should not take place" until the current situation was settled. His reply was very vague, but to a degree acknowledged that there was potential for a large shortfall.

I realise that 'funds' were of paramount importance, but for management to go head long into these capital placements without the support of the majors, is to me utter negligence and total naiive stupidity.
Maybe ego's are a big problem here also!

Appreciate, if you can provide more info, thanks in advance.