Results Of General Meeting, page-10

Hi HM,

"The company has no money, the next cap raise will be within 3 months and it won’t be pretty"

My reading of the financial statements was that at end of December 2017 the company had over $4m with the cap raising last year, revenue and tax incentives. Why do you think "the company has no money" and "the next cap raise will be within 3 months"?

I think the financial statements to end of June 2018 will give a more accurate picture.

As for events at the company over board changes the fact is that senior management have withdrawn their resignations and have every reason to work with the new chairman and turn their investment with the company into a success, they are very close IMO. CZM and OIL need each other, they have a huge investment in a collaborative future and I don't see that dissolving.

I reserve my judgement on how things will work out until after the AGM. I am disappointed Ian Mann has lost his directorship, I am still curious about the real issues, but I have a good deal of respect for Mr Mutton and no real knowledge of Jeremy Baldock or Dr Currie. The results of the EGM suggests there is enough shareholder involvement to protect the smaller investors from any predatory behavior IMO.