Hi Littlecorn I have re-read last week's presentation and found...

Hi Littlecorn

I have re-read last week's presentation and found the answer to your question on the 700,000 collateral shares. These have been cancelled leaving Kentgrove holding 1% - it is in brackets in the box headed Major Shareholders on page 4. Kentgrove's stake would now be down to around 220,000 shares.

I do not understand the two year trading range question and am not sure the range matters. As I read the charts XTE has fluttered in the last two years between 0.35 in 2014 and 2015 and 0.52 last month. I am not worried about the discount rate because that is what they probably had to take to get underwriting of $1.25m in the present market.

The problem I see is the slippage of sales back into 2016/17 and 2017/18. The Directors warn on page 18 this will mean a significant loss this year before significant improvements in the next two years. This is disappointing but I still think XTE has potential.