Ann: Premier Expansion Update, page-2

I have read this Ann and the Investor presentation, whilst information to SH as to gold operations is good and sounds positive, i must say the iron ore side is lacking in clear direction or any real proposal or planing ie: none !!

For CDG to simply say we plan to "spin out" the iron ore assets and not quantify a plan or schedule or mechanism to do this means they have no idea is what it says to me !!

A real plan on what CDG is going to do is required, including funding requirements to keep the project, exploration budgets based on positive findings and marketing (off take domestic agreements).

I think the true value of CDG is in the iron ore projects and the gold projects will never generate the free cash flow iron ore projects will even in this depressed iron ore market.

Spin out the iron ore projects now into ASX (NewCo) raise some funds and offer to existing CDG SH a free option and or discounted share percentage for participation !! That should be the plan and it should be done now whereby maintaining the Fe assets in good order, complete required exploration (minimum $ spend) and tick them along until the market improves !!