FR, page-20

Hopeful,

We will have to agree to disagree on many of our points so there is no need for us to go back and forwards. I have sufficient knowledge to assess projects and to be honest, I dont really listen to 'experts' like our geo Derek because often they say what they think people want to hear.

I stand by my comments that the FR deal was good for AON because they got it for a good price. What I dont agree with is the valuation that the market is putting on it of a couple of million given both ENT and AON arrived at a price of 200K. Nothing has been done on the tenements since the JV so AON hasnt increase its value.

Im not down ramping and I dont have sour grapes about selling higher than current prices. I am bitter at making a solid loss on this due largely to the competency of management. Management constantly compared their SA prospect to other known IOCG deposits. Dont get caught in that trap again with them comparing FR with Nova!