Ann: RRL: Response to Media Speculation, page-62

Let's see what comes out in the end. As a Regis shareholder, I'm a bit surprised anyway about this CMM offer. Regis has a great project on the angel with the additional possible huge Phillamys project (2 million ounces of reserves at 192,000 ounces of funding per year). They also go in Rosemont in the underground with good gold grades. Regis would (without CMM) rise to a 600,000 ounce gold producer.

Well, Regis will have a reason for this CMM offer. However, I hope as a regis shareholder, they do not offer too much more. That's just my personal opinion.

For CMM shareholders it is clear that they want to have the highest price. This is naturally reversed at Regis. we will see...