Ann: Yandal Gold Project Acquisition, page-11

It seems a nice gesture by the directors to offer this ground to the company. It will also mean directors get another 5-10% of the company between them/their friends. No cash, just shares. So they are putting their money where their mouth is....and on this basis, this is not a disingenuous deal. But it does mean we (HMX) are taking on the expenditure commitments. Hopefully management can farm out some of it to get money to pay for the work commitments. To my mind, whilst it is great ground, HMX does seem spread a bit thin in Qld. WA will add to the burden. HMX needs to do deals to get some cash flow or to ease the expenditure commitment burden. Otherwise, its CRs. I hope this does not diminish any bargaining power we currently have to do deals. I agree with the above posts that with Ziggy involved (remember his GOR days), they will make the most of every cent.