In response to the comment regarding the Federal Court...

In response to the comment regarding the Federal Court proceedings, my understanding from announcements and documents filed and available on ComCourts Portal for case NSD363/2013 is:

* Hillam etc is requesting an interlocutory injunction with respect to the sale process of BMG's interest in Hawsons. An interlocutory injunction is a court order to compel or prevent a party from doing certain acts pending the final determination of the case. Hillam etc is wanting to stop the sale process.

* On the other side of Hillam are the Defendants. The First defendant is liquidators, second defendant is BMG. CAP and Pure Metals are thirds and fourth defendants.

* Assuming the application only relates to the sale of BMG's 40% interest, then it has no impact on CAP's 60% interest.

Unlike the past litigation, the handbrake was on and whilst CAP progressed activities towards the BFS, it wasn't as quick as it could have been.

With the proposed heads of agreement re BMG's 40% share, CAP not exercising pre-emptive rights, new JV and funding for BFS, I am hopeful that even if the litigation is not resolved on 10 April 2013 when next before the Courts then CAP and Silvergate/Puremetals will continue to advance Hawsons at a much faster pace.

PS, thanks for the updtate R36!