Ann: RRL: Market Update - Discussions With Capricorn Metals Ltd, page-18

Roller coaster ride but the project value hasn’t gone anywhere, just the price the market is willing to pay.

Very strange situation also where RRL say they were negotiating a confidential proposal. Well their confidentiality protocols didn’t work to well considering the information leaked and was published in an online article.

This whole situation could have passed the market by without the market ever having found out about it. Both companies should really look at their legal protocols or risk damaging the market and their own reputations. In terms of the market the breach of confidentiality plus the way it was all announced have created a significantly disorderly market, but guess what ASX and AISC won’t be going to figure out the source of the leak and if any insider trading accompanied the leaked information. Maybe the Federal police should stop warming their office seats and check out what has happened behind the scenes here and if anyone has profited from the information because that would be a crime.

Meanwhile the relationship between the board and the major shareholder is untenable now IMO, something has to give. You can’t have such a non-aligned controlling structure. Interesting to see how they resolve their differences and how the project moves forward from here. I’m not happy at all with this situation and think it’s very destructive for the future of the company and the project. Esh