Ann: Updated Presentation, page-9

Chelkn

Looks like your prediction concerning the share price falling away further is proving to be correct.

Based on the 20% discount formula the UK listing share price is now sitting at 2.8p meaning even more shares to be issued to raise the suggested A$20m, more pain/dilution for existing holders.

May need to revise the new share issue from 400m to 500m if the share price drop continues at pace.

So far I have seen nothing in the UK concerning presentation events for Crusader, there are only so many outlets in London, these have to be booked in advance. I do wonder if they will get the listing away at all, if not they will run out of money once again and need another Capital Raise in Australia.

I would not be surprised to see the share price drop below 6c shortly, as mentioned I would not be a buyer until the London listing price is fixed.

No advice intended