Ann: Quarterly Activities Report, page-5

The report from Empire Capital gives us a lot more in depth info than quarterly. In particular on sales plan and strategy.

"The Company has also streamlined its diamond selling process with the opening of a sales office in Antwerp, where more than 80% of the world’s diamonds are sold. Moving forward, Merlin plans to sell its polished diamonds from previous production."

Also no diamond production report as promised. Hoping this might be separate to the official quarterly?? and could be sprung on the market any time after processing stockpiles.

The company also doesnt seem to have a problem finding debt arrangements to cover these big ticket capital purchases along with convertable notes. However not a lot of detail provided to the market and still claiming a further $2mill financing facility being negotiated.

Main positive going forward.. every day now company is plowing through fresh ore from pits. There must be a pretty solid stockpile of diamonds waiting to be sold via antwerp and since Gutnick Snr has taken the reigns announcements seem more liquid. Very strange that the momentum from last few very positive announcements will be offset by this rather lazy quarterly.

Management clearly holding back info on a number of fronts. Only once they are willing to show their hand will this really take off.