Ann: Tucano Update and 2018 Review, page-7

I’m afraid hopes of a VAT rebate out of Brazil carries the same probability of success as the chances of recovering anything from the “one man band” that SJ appointed to carry out the expansion project. No chance! I doubt if they even carried PI insurance which might have been a way to pursue retribution. Our cash flow (or lack thereof) is forcing this arranged marriage with GPL and with no other buyers we will have no other option than to accept their offer in order to survive. Having a great plant with huge exploration potential means nothing when the debtors start calling.......I don’t want to support the GPL deal but I can’t afford to risk liquidation either