Ann: Suspension from Official Quotation , page-18

Some valid points SLOGGER.

I cannot determine from the annual reports what the exact remuneration position is but the impression I get is that certain personnel are being paid substantial salaries by the joint venture in Vietnam to manage the (Non performing) JV and to represent the Company JV in Vietnam. These salaries appear to be in addition to the salaries and directors fees already being paid by Hazelwood Resources. The Hazelwood salary agreement extends to December 2012. The agreement with Asia Tungsten Products Co Limited (“ATCHK”) commenced on 1st May 2010 and continues for 5 years. Furthermore, each of the agreements HAZ and ATCHK hands out millions of options (None of which are likely to be exercised at current share price!) Furthermore, the ATCHK agreements provide for 12 months salary if the Company terminates their services (an event likely to happen if the plant doesn't commence production).

I don't need to mention that these payments are from a company that is generating no income.

I quote from the Annual Report dated 27/10/11
"At the time of this report, construction activities have been concluded and mechanical commissioning is essentially complete".

It is now 7 months later and no production!

Also, as an example of the Company's over exhuberant self promotion, I quote "The value of the facility will be duly recognised upon commencement of production, establishing the Company’s presence in the realm of scarce minor ferroalloys."

The shares were suspended on the 2nd May. It's been too long. Like others in this thread I hope for the best but.......