Ann: Repositioning Mungana - Heads of Agreement w, page-4

re: Ann: Repositioning Mungana - Heads of Agr... Yatchy, the board of Mungana has, in ASX release, supported the deal, subject to the outlined conditions.

Whatever the ceo may say I say, this is a poor deal for Mungana Goldmines. This company was formed several years ago to save the backside of Kagara. Mungana has developed their story well, Kagara has not.Now again, Mungana is set to save Kagara again by giving them the very large Mungana gold ,copper and silver resources, a project with favourable Stage 1 BFS- this all for a pittance.

What does Mungana Goldmines get from this deal- Kagara off their share register. Its the right thing to do given the poor Kagara record. However there has to be another way than to give away the Mungaga project.