dear leader, page-3

As right as you both may be, unfortunately as things stand there isn't too much we can do. Trying to look at it from a management perspective, they've struck the deal, the deal that was promised (albeit late) has been delivered, and there are no clear signs that the Canadians will not come up with the money. As naive as it sounds, this was the message given at the AGM, and hence is the way management are looking at it. Frankly, we may never even see the initial $1 million, however, as much as any of us can say the deal is a dud, it remains to be seen whether it will eventuate into s@#t or not.

Why I say this: all of these official complaints to ASIC or the ASX or any other body will not hold any measure, as when questioned, management can simply state what I have said above. The partner may be a minnow in absolute terms, but until they fail to fulfill their end of the bargain, there will be no actions taken as a result of complaints. Share price is one way that displeasure can be showed, and it is being utilized.

I hope you can see where I am coming from. For all we know, the canadians may have every intention and may be successful in coming up with the money, and we may be drilling in less than 12 months!